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 meat products favourably influenced demand... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry into the Veterinary Services industry are at a medium level and relate to start-up costs for setting up a practice, required professional qualifications and skill levels, and the establishment of reputation.
Start-up expenditure relates to surgery fit-out, basic veterinary instruments and equipment as well as specialised equipment including a digital x-ray unit, an endoscopy machine and an ultrasound machine. Farm animal and equine practices can be more expensive to establish and operate than a practice catering to small animals. This is due to the sheer size of equipment, facilities and quantities of drugs that are required to treat larger animals... purchase to read more