Emergency Veterinary Services in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4025Revenue
$14.0bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
400k
Businesses
41,687
Wages
$X.Xbn
Emergency Veterinary Services in the US industry analysis
Emergency veterinary services provide care to livestock, equines and domesticated animals. As pet insurance coverage has soared, animal care utilization has increased, raising demand for emergency veterinary services and boosting revenue growth. Strong wage growth in the years immediately preceding the pandemic boosted per capita disposable income. This enabled households to spend more on laboratory tests and other forms of treatment when they took their pets to their local clinic, raising demand for the industry's services. Individuals didn't go out much during the pandemic since stadiums, businesses, bars and other establishments were closed, so people became very lonely. Loneliness increased the number of pets, which increased spending on emergency veterinary visits and caused revenue to rise in 2020.As interest rates have increased, it's become more expensive for farmers to afford essential equipment. They've rationed veterinary services to pay for farm equipment and barns, so demand for the industry's services from livestock has declined in 2022, causing revenue to also fall. Overall, revenue for emergency veterinary service providers is anticipated to surge at a CAGR of 5.6% during the current period, reaching $14.0 billion in 2023. Revenue is expected to increase 5.4% in that year.Despite current challenges relating to high inflation and rising interest rates, economic growth will be strong during the outlook period. High GDP growth will boost per capita disposable income, boosting revenue. As the number of households increase, demand for pets will rise continuously in the near future, increasing demand for emergency veterinary services. Clinics will adopt new treatments such as endoscopy and laser surgery to boost the efficiency of their services. Higher efficiency will enable emergency veterinary service providers to see more customers, raising revenue for the industry. Demand for pet and dog breeding will decline as animal rights groups raise awareness about the industry's cruelty toward animals. As animal breeding falls, so does the number of pets, causing revenue to creep downward. Overall, revenue for emergency veterinary service clinics is forecast to increase at a CAGR of 3.5% during the outlook period, reaching $16.6 billion in 2028. Profit is expected to comprise 9.2% in that year.
Trends and Insights
- Emergency veterinary service providers have performed very well during the current period because of surging demand for pet insurance.
- As nonsurgical treatments have become more affordable for veterinarians, its revenue share has surged recently. Weak demand for pets has reduced the need for surgical treatments at veterinary clinics, so its revenue share has crept downward during the current period.
- The Southeast region comprises the largest share of the nation's population. Places with higher populations have more pets, so the number of veterinary clinics is high in the Southeast.
- Since many clinics exist, there's significant internal competition among emergency veterinary service providers. Clinics compete based on reputation, quality of care, fee rates and the range of services offered.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has grown at a CAGR of 5.6 % over the past five years, to reach an estimated $14.0bn in 2023.
Trends and Insights
Soaring demand for pet insurance has been a boon for the industry
- As technological advancements in healthcare have taken place, procedures originally done on humans (e.g., orthopedics, density, cancer care) have become commonplace for animals, raising the price of veterinary care.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
The US economy will be strong
- Despite current economic challenges related to high inflation, rising interest rates and recessionary fears, GDP is expected to rise steadily during the outlook period.
Biggest companies in the Emergency Veterinary Services in the US
| Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
|---|---|---|---|---|
Vca Inc. | 347.6 | 47.5 | 13.7 |
To view the market share and analysis for all 1 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Surgical treatments, Nonsurgical treatments and Laboratory services . Surgical treatments is the largest segment of the Emergency Veterinary Services in the US.
Trends and Insights
Demand for surgical treatments is dependent on the number of pets
- Surgical procedures for animals comprise more than one-fifth of revenue.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Veterinary Services in the US
Complementors
- Livestock Production Support Services in the US
- Brand Name Pharmaceutical Manufacturing in the US
- Pet Stores in the US
International industries
- Veterinary Services in Canada
- Veterinary Services in Australia
- Veterinary Services in New Zealand
- Veterinary Services in the UK
Table of Contents
About this industry
Industry definition
Companies in this industry provide emergency veterinary services to livestock, equines and domesticated animals.
What's included in this industry?
Performing emergency clinical procedures on animalsPerforming emergency diagnostic tests on animalsPerforming emergency surgical procedures on animalsDistributing medicine for animalsCompanies
Vca Inc.Purchase this report to view all 1 major companies in this industry.
Related Terms
COMPANION ANIMALSDIAGNOSTICLIVESTOCKIndustry Code
NAICS 54194 - Emergency Veterinary Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Emergency veterinary service providers have performed very well during the current period because of surging demand for pet insurance.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
As nonsurgical treatments have become more affordable for veterinarians, its revenue share has surged recently. Weak demand for pets has reduced the need for surgical treatme...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2023
- Product innovation level
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Southeast region comprises the largest share of the nation's population. Places with higher populations have more pets, so the number of veterinary clinics is high in the...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Since many clinics exist, there's significant internal competition among emergency veterinary service providers. Clinics compete based on reputation, quality of care, fee rat...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
There are very few major players in this industry. Small clinics effectively compete with larger companies since they have a strong reputation in their local communities. Thi...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of Vca Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for Vca Inc., and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Regulation for emergency veterinary service providers is very hefty. Veterinarians must have a graduate degree and be certified in a particular state, while accreditation sta...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit responds to demand for pets. As the need for companionship rose during COVID-19, the number of pets increased in 2020, boosting profit. These trends reversed themselve...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Emergency Veterinary Services in the US industry in United States in 2024?
The market size of the Emergency Veterinary Services in the US industry in United States is $14.0bn in 2024.
How many businesses are there in the Emergency Veterinary Services in the US industry in 2023?
There are 41,687 businesses in the Emergency Veterinary Services in the US industry in United States, which has grown at a CAGR of 1.1 % between 2018 and 2023.
Has the Emergency Veterinary Services in the US industry in United States grown or declined over the past 5 years?
The market size of the Emergency Veterinary Services in the US industry in United States has been growing at a CAGR of 5.6 % between 2018 and 2023.
What is the forecast growth of the Emergency Veterinary Services in the US industry in United States over the next 5 years?
Over the next five years, the Emergency Veterinary Services in the US industry in United States is expected to grow.
What are the biggest companies in the Emergency Veterinary Services in the US market in United States?
The biggest company operating in the Emergency Veterinary Services market in United States is Vca Inc.
What does the Emergency Veterinary Services in the US in United States include?
Performing emergency clinical procedures on animals and Performing emergency diagnostic tests on animals are part of the Emergency Veterinary Services in the US industry.
Which companies have the highest market share in the Emergency Veterinary Services in the US in United States?
The company holding the most market share in United States is Vca Inc..
How competitive is the Emergency Veterinary Services in the US industry in United States?
The level of competition is moderate and increasing in the Emergency Veterinary Services in the US industry in United States.
