Industry Analysis & Industry Trends
The British love their pets. According to the Pet Food Manufacturers' Association, in 2010 there were about 24 million pets in the United Kingdom (excluding fish), with about 47% of all households owning a pet. The demand for veterinary services is increasing due to growing awareness of animal health issues and the availability of advanced surgical and diagnostic procedures for animals. In 2011-12, the Veterinary Services industry is expected to generate revenue of £2.6 billion, down 2.0% in real terms compared with estimated revenue in 2010-11. Industry revenue is expected to increase at an annualised 4.1% in the five years through 2011-12.
During the next five years, revenue is expected to grow by an average 2.8% in the five years through 2016-17 to reach £2.98.. purchase to read more
Industry Report - Starting a New Business Chapter
The costs involved in establishing a private practice depend on the type and location of the practice, and this can represent a barrier for new entrants. According to Vets4Pets, typical new practice start-up costs are about £200,000. Expenditure is required in the areas of surgery fit-out, basic veterinary instruments and equipment, specialised equipment that may include a digital x-ray unit, endoscopy machine and ultrasound machine. Farm animal and equine practices can be more expensive to establish and operate than a practice catering for small animals. This is due to the sheer size of equipment and facilities and the quantities of drugs that are required to treat larger animals... purchase to read more