Feline good: Innovative technologies are expected to enable operators to expand their product portfolio

The Veterinary Services industry in Canada has performed strongly over the five years to 2019. Improving consumer confidence and rising per capita disposable income have boosted demand for veterinary services. Furthermore, developments in medical technologies and procedures have enabled veterinarians to purchase enhanced diagnostic tools to perform specialized medical procedures in-house. As a result, many practices now offer ophthalmology, internal medicine, surgery and dentistry, among other specialty services. With the average lifespan of companion pets on the rise, demand for routine care and chronic disease management of older companion pets has increased as well. Over the five years to 2024, industry revenue is forecast to grow...read more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24
Market Share of Companies

Industry Threats & Opportunities

  • Improving consumer confidence and rising per capita disposable income have boosted demand for veterinary services
  • On average, veterinary prices are lower in the United States than in Canada
  • Pet insurance will likely become more common
  • Industry Report - Industry Products Chapter

    Nonsurgical proceduresNonsurgical procedures are expected to comprise 26.8% of the Canadian Veterinary Services industry's revenue in 2019, according to IBISWorld estimates. These procedures include vaccinations, treatment of wounds and the cleaning of infection-prone areas, such as ears. The majority of nonsurgical procedures is mostly related to prevention practices, including Lyme disease vaccinations and topical flea treatments. This segment tends to fluctuate in line with pet ownership. Since pet ownership has increased over the five years to 2019, this product segment has grown...purchase to read more.

    Additional Insights for the Veterinary Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Veterinary Services Industry are

  • Proximity to key markets
  • Provision of appropriate facilities
  • Effective cost controls
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income and Demand from pet stores in the Veterinary Services industry impact industry performance..

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    What's in this report

    What is the Veterinary Services Industry?

    Operators in this industry provide medical, dental and surgical treatments for animals. This industry also provides laboratory and diagnostic testing for licensed veterinary practitioners. Companies that manufacture medical supplies or pharmaceuticals for animals are not included in this industry.

    Industry Products
  • Routine exams
  • Nonsurgical procedures
  • Surgical procedures
  • Laboratory and diagnostic testing
  • Pet products and food
  • Pet care services
  • Industry Activities
  • Operating animal hospitals
  • Animal disease testing
  • Livestock inspecting and testing
  • Providing small animal veterinary services
  • Operating veterinary surgeons' offices
  • Performing animal vaccinations
  • Operating veterinary clinics
  • Operating veterinary testing laboratories
  • Providing livestock veterinary services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income
  • Demand from pet stores
  • Research and development expenditure
  • National unemployment rate
  • Per capita meat consumption

  • Current Performance
  • Rising competition
  • Sustained demand
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • More of the same
  • Protecting pets and their owners
  • Table: Veterinary Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Veterinary Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Beef Cattle Production in Canada
  • Dairy Farms in Canada
  • Hog & Pig Farming in Canada
  • Consumers in Canada

  • Key Selling Industries
  • Brand-Name Pharmaceutical Manufacturing in Canada
  • Generic Pharmaceutical Manufacturing in Canada
  • Inorganic Chemical Manufacturing in Canada

  • Products & Services
  • Nonsurgical procedures
  • Routine exams
  • Laboratory and diagnostic testing
  • Surgical procedures
  • Pet products and food
  • Pet care services
  • Other
  • Chart: Veterinary Services Industry Products and Services Segmentation

  • Demand Determinants
  • Agricultural demand
  • Domesticated demand

  • Major Markets
  • Companion animal practices
  • Mixed animal practices
  • Farm animal practices
  • Chart: Major Market Segmentation for the Veterinary Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Veterinary Services

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Veterinary Services Industry

  • Industry Globalization
    VCA Antech Inc.,
  • Table: VCA Antech Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Veterinary Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Veterinary Services Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)
  • Wages (2010-2024)
  • Purchases (2010-2024)
  • Profit (2010-2024)
  • Depreciation (2010-2024)
  • Marketing (2010-2024)
  • Rent (2010-2024)
  • Utilities (2010-2024)
  • Other (2010-2024)
  • Per capita disposable income (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • Identifying a particular disease.
  • Equine
  • Being related to horses.
  • Livestock
  • One or more domesticated animals raised in an agricultural setting to produce commodities such as food, fibre and labour.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Veterinary Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Veterinary Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Veterinary Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Veterinary Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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