Veterinary Services in the US - Industry Market Research Report

Animal house: More owners will purchase pet health insurance, enabling them to pay for high-cost services

In recent years, rising pet ownership and advancing technology in veterinary medicine greatly benefited veterinarians. Improving medical technologies and procedures enabled veterinarians to purchase enhanced diagnostic tools to perform specialized medical procedures in-house. Many practices now offer ophthalmology, internal medicine, surgery, dentistry and other specialty services. Industry-wide revenue has been growing at a CAGR of 4.1% over the past five years and is expected to total $63.6 billion in 2023, when revenue will jump by an estimated 1.2%.

The Veterinary Services industry includes establishments of licensed veterinary practitioners that provide medical, dental or surgical treatment for animals. The industry also includes establishments that provide laboratory and diagnostic testing services for licensed veterinary practitioners. Companies that manufacture medical supplies or pharmaceuticals for animal treatment 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.