	Standard Report	Premium Report
Current State of the Industry
Market Size (industry trends)
Market Forecast (5-year projection)
Products/Services Breakdown
Revenue per State
Financial Metrics
Salary & Compensation Statistics
Public Company Information
Key Private Companies
Government Vendors
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2024 U.S. Industry Statistics & Market Forecast - Veterinary Services

Published: April 2024

Market Size & Industry Statistics

The total U.S. industry market size for Veterinary Services: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics	2019 2020 2021 2022 2023
Market Size (Total Sales/Revenue)		Order at top of page
Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee

Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data

Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.

Forecast / Industry Outlook	2024	2025	2026	2027	2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)

Source: AnythingResearch Economic Analysis

Industry Insights

The Veterinary Services industry has been experiencing significant changes in recent years. One of the key trends affecting the industry is the increasing demand for pet insurance. Pet owners are increasingly aware of the high costs associated with veterinary care and are opting for insurance to cover these costs.

Another trend is the increasing focus on preventive care. Veterinarians are emphasizing the importance of regular check-ups and screenings to prevent illness and disease. This trend is driven by a growing awareness of the benefits of preventive care for both pets and their owners.

The use of technology is also becoming more prevalent in the industry. Veterinarians are using digital records, telemedicine, and other technologies to improve the efficiency and effectiveness of their services. This trend is expected to continue as the industry becomes more reliant on technology to deliver quality care.

Lastly, there is a growing demand for holistic and alternative treatments. Many pet owners are seeking out alternative therapies such as acupuncture and herbal medicine to treat their pets. This trend is driven by a desire for natural and non-invasive treatments.

Overall, these key trends are shaping the Veterinary Services industry and are expected to continue to do so in the coming years. As the industry continues to evolve, it will be important for veterinary professionals to adapt to these changes in order to provide high-quality care to their patients.

Product & Services Breakdown

Research products and services in the Veterinary Services industry generating sales. Note that products are broken into categories with different levels of classification.

Product Description	Number of Companies	Sales ($ millions)	Percent of Total Sales
Industry Total
Pet Care Services
Pet Grooming Services
Pet Boarding Services
Pet Funeral Services
Other Pet Care Services
Veterinary Services
Routine Veterinary Examinations
Surgical Treatment Of Animals
Non-Surgical Treatment Of Animals
Veterinary Laboratory Services
Veterinary Inspection And Disease Investigation Services
Resale Of Merchandise
Resale Of Other Merchandise
Resale Of Pet And Animal Supplies
All Other Receipts
All Other Operating Receipts

U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

	Industry Average	Percent of Sales (Industry Benchmark)
Total Revenue	Order at top of page
Operating Revenue
Cost of Goods Sold
Gross Profit
Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit Net Income

Source: AnythingResearch Analysis of U.S. federal statistics

Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Veterinary Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation Ratios	Industry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Veterinary Services industry is performing.
Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Veterinary Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.

Liquidity Ratios	Industry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories.

Efficiency Ratios - Key Performance Indicators	Industry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.

Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

Title	Percent of Workforce	Bottom Quartile
Management Occupations	2%	Order at top of page
Chief Executives	0%
General and Operations Managers	1%
Healthcare Practitioners and Technical Occupations	41%
Healthcare Diagnosing or Treating Practitioners	16%
Veterinarians	16%
Veterinarians	16%
Health Technologists and Technicians	25%
Health Practitioner Support Technologists and Technicians	24%
Veterinary Technologists and Technicians	24%
Healthcare Support Occupations	23%
Other Healthcare Support Occupations	23%
Miscellaneous Healthcare Support Occupations	23%
Veterinary Assistants and Laboratory Animal Caretakers	23%
Personal Care and Service Occupations	9%
Animal Care and Service Workers	8%
Animal Caretakers	8%
Animal Caretakers	8%
Office and Administrative Support Occupations	23%
Information and Record Clerks	16%
Receptionists and Information Clerks	13%
Receptionists and Information Clerks	13%

Source: Bureau of Labor Statistics

Veterinary Services Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Veterinary Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Veterinary Services industry and adjacent sectors:

Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry	Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries
Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.	Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Veterinary Services industry.