Industry Analysis & Industry Trends
The Veterinary Services industry provides medical advice and treatment primarily for animals in farms and pets. The industry has recorded moderate growth during the past five years. The number of pets owned increased over the period and propelled demand for industry services. The expansion of services available and the rising popularity of pet insurance also contributed positively. However, household spending pressures restricted spending on veterinary services and curtailed growth to some extent. Meanwhile, growth in demand from farms also remained somewhat 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 Investment Chapter
The level of investment required is determined by comparing the human and capital equipment factors of production, using wages and depreciation costs as proxies. Comparatively high depreciation costs are indicative of a high level of investment in depreciable assets such as buildings and equipment and, therefore, high capital intensity. Conversely, comparatively high wage costs are indicative of high labour intensity.
The level of capital intensity in the Veterinary Services industry is low. This is reflected by the industry's capital-to-labour ratio, which indicates that for every £1.00 spent on capital equipment, an estimated £23.56 is spent on labour... purchase to read more