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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