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 and high unemployment constrained spending on veterinary services by pet owners. Meanwhile, weak agricultural income and a fall in the cattle population also limited demand from farms. However, changing attitudes towards pets and a rise in the birth rate increased pet ownership levels since 2012-13, which augured well for industry participants... purchase to read more
Industry Report - Industry Analysis Chapter
The industry faced challenging conditions over the past five years as falls in real disposable income and pressure on household spending hindered 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 2012-13, 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