Industry Analysis & Industry Trends
The industry provides medical advice and treatment for pets and animals in farms. Vets also provide services to other organisations such as breeding institutions, zoos and firms in the racing industry. However, the provision of services to pets and farm animals generates the bulk of industry revenue.
Veterinary service providers faced lacklustre conditions over the past five years as falling real incomes constrained spending on veterinary services by pet owners. Meanwhile, demand from farms also remained restricted, partly due to the fall in the cattle population. Nevertheless, an increase in the poultry population and tightening health and safety regulations relating to meat products favourably influenced demand... purchase to read more
Industry Report - Industry Analysis Chapter
The industry faced dull conditions over the past five years as the economic downturn hampered real disposable incomes and increased pressure on household spending, which adversely affected demand for industry services. Demand from farms also remained constrained and restricted industry growth. However, changes in attitudes towards pet ownership, which caused pet ownership levels to increase since 2012, limited the effect of the poor economic climate on the industry. Meanwhile, radio and TV shows increased consumer awareness of animal health issues. Pet insurance also became more popular and the range of specialised veterinary services available expanded over the period. These factors favourably influenced the industry... purchase to read more