Navigation Links
Pet Smart: Veterinary Services in the US Industry Market Research Report Now Available from IBISWorld
Date:5/6/2013

Los Angeles, CA (PRWEB) May 06, 2013

The Veterinary Services industry has performed well in the five years to 2013, with revenue rising at an annualized rate of 2.6%. “Although revenue slightly declined during the economic downturn due to a drop in client visits and disposable income, rising pet ownership and a greater willingness to spend on pet health and wellness helped maintain growth over the period,” says IBISWorld industry analyst Austen Sherman. An expected 4.0% boost in 2013 will push revenue to an estimated $31.7 billion by the year's end. This growth not only indicates the industry's resilience, but also the significant influence that changes in per capita disposable income have on demand for veterinary services.

Veterinary service operators have consolidated in an effort to maintain revenue in the face of mounting competition from superstores and online retailers that sell pet products and medications. In the past five years, the number of operators has declined at an estimated average of 1.3% per year to 38,316. According to Sherman, “Consolidation has helped operators reduce costs to remain competitive, though wages have actually increased as a percentage of revenue due to a veterinarian shortage in the United States.” This factor is also partly attributable to the rising use of well-paid veterinary technicians to assist in the use of developing technologies. Nevertheless, consolidation has allowed many operators to share the industry's fixed costs. It is also increasing market share concentration in the Veterinary Services industry. Concentration has increased in recent years due to acquisition activity, particularly by major players, VCA Antech Inc. and IDEXX Laboratories Inc.

Consolidation is projected to continue during the five years to 2018. As consolidation helps operators build economies of scale, in which they can spread costs over a larger customer base, average profit margins are projected to widen by 2018. Similarly, revenue is forecast to increase. This trend will be fostered by continued growth in pet ownership, greater demand for animal products and legislation that will encourage veterinarians to practice in underserved areas. For more information, visit IBISWorld’s Veterinary Services in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

The Veterinary Services industry includes establishments of licensed veterinary practitioners who 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.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Read the full story at http://www.prweb.com/releases/2013/5/prweb10703381.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Penn and Cornell researchers spearhead the development of new guidelines for veterinary CPR
2. Webvet.com Offers Free Promotional Pages for Veterinary Professionals
3. International symposium on veterinary rehabilitation and physical therapy to be held in Vienna
4. 1-800-GO-VAPOR.com to Target Veterinary Hospitals with Ladybug Vapor Steam Cleaners
5. Spectrum Surgical Announces Veterinary Eye Surgery Packs
6. Damariscotta Veterinary Clinic Answers Questions About Animal's Diets
7. Flea and Tick Awareness Month at Assisi Veterinary Hospital
8. Assisi Veterinary Hospital Encourages Heartworm Awareness for Dogs & Cats
9. Texas Veterinary Cancer Registry Expands Nationally
10. National poll: Low cost, lifesaving services missing from most older patients health care
11. SEOMiracle.com Provides SEO Services with PayPal Verified Option
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... , ... June 24, 2016 , ... ... and Scientific Sessions in Dallas that it will receive two significant new grants ... grants came as PHA marked its 25th anniversary by recognizing patients, medical professionals ...
(Date:6/24/2016)... ... 24, 2016 , ... Dr. Amanda Cheng, an orthodontist ... has extensive experience with all areas of orthodontics, including robotic Suresmile technology, ... , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It can be used ...
(Date:6/24/2016)... ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain ... for a minimum wage raise to $12 an hour by 2020 and then adjusting it ... the lost value of the minimum wage, assure the wage floor does not erode again, ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... at the Clinical Decision Making in Emergency Medicine conference in Ponte Vedra Beach, ... journal articles published in Emergency Medicine Practice and Pediatric Emergency Medicine ...
(Date:6/24/2016)... ... June 24, 2016 , ... Puradigm® ... Group (TGIG), has initiated cultivation and processing operations at its production facility, and ... Nevada. , Puradigm is the manufacturer of a complete system of proactive air ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... 2016 Roche (SIX: RO, ROG; OTCQX: RHHBY) ... Elecsys BRAHMS PCT (procalcitonin) assay as a dedicated testing ... With this clearance, Roche is the first IVD company ... for sepsis risk assessment and management. PCT ... PCT levels in blood can aid clinicians in assessing ...
(Date:6/23/2016)... 23, 2016 Research and Markets has ... 52" report to their offering. ... creates a favourable commercial environment for MedImmune to enter. The ... that will serve to drive considerable growth for effective anti-influenza ... to cap sales considerably, but development is still in its ...
(Date:6/23/2016)... INDIANAPOLIS , June 23, 2016 ... Tomorrow,s Leaders Scholarship is any indication, the future is ... online at www.diabetesscholars.org by the Diabetes Scholars ... in the way of academic and community service excellence. ... program since 2012, and continues to advocate for people ...
Breaking Medicine Technology: