Veterinary Industry Analysis/ Veterinary Industry Overview
Veterinary services provide healthcare for animals – especially pets, farm animals, and animals kept in zoos and wildlife parks. Healthcare is required in cases of disease or injury and for health maintenance and management.
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Veterinary Market Statistics
The global pet vet market grew from about $74 billion in 2013 to nearly $100 billion in 2017. This high growth can be attributed to factors such as increased pet spending in recent years, increased pet ownership by new generation, certification to import meat products, and other factors mentioned in the report.
The USA had a dog population of 69 million and cat population of 74 million in the year 2016. Other popular pets owned by households in the USA include fish, ferrets, rabbits and hamsters. Sixty-eight percent of U.S. households, or about 85 million families, own a pet— 60 million households own a dog and 48 million households own a cat.
In the USA, the livestock population includes cattle, goats, sheep, horses and pigs. In 2016, the country had a livestock population of around 181 million. There are currently around 9o million cattle in the USA, and among these are nine million dairy cows, and 30 million beef cows.
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In the USA, there were 117,735 veterinarians in 2017 of which 60.6% privately practiced in clinics and about 15% in public hospitals. Ninety percent of the 28,000 veterinary hospitals in the U.S. are independently owned. Veterinary services are in the early stages of consolidation, with consolidator ownership expected to nearly double by 2025. Companion animals and livestock contribute equally to the veterinary services market in the US.
Some of the major veterinary associations in the USA are American Veterinary Medical Association (AVMA), American Association of Bovine Practitioners (AABP), and American and Association of Veterinary State Boards (AAVSB).
Top veterinary pharmaceutical companies included in the vet market report are VCA Inc., Banfield Pet Hospitals, Greencross Limited, CVS Group Plc, The Bergh Memorial Animal Hospital ASPCA and The Animal Medical Center.
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