Veterinary Services in the UK - Industry Market Research Report

Better Pets: Industry Revenue is Forecast to Rise As Veterinaries Weather Ongoing Economic Instability

Over the five years through 2022-23, industry revenue is expected to increase at a compound annual rate of 2.9% to reach £5.6 billion. Rising pet ownership has boosted demand for veterinary care. The expansion in the range of services, the growing popularity of pet insurance and the law making the microchipping of dogs compulsory in 2016 have also supported growth. In addition, tightening health and safety regulations relating to meat products have supported demand. The industry has transformed, with larger conglomerates acquiring small practices, increasing the market share concentration considerably. The industry has also attracted the interest of private equity firms, contributing to further consolidation during the period, with many of the largest players now majority-owned by UK and international private equity firms.

This industry provides healthcare and control activities primarily for farm animals and pets. Activities are carried out by qualified veterinary surgeons in veterinary hospitals, on farms or in surgeries. The industry also includes animal ambulance activities. Animal boarding activities and artificial insemination are not included in the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.