Veterinary Services in New Zealand - Industry Market Research Report

Top dog: Discretionary income and adoption spikes during the pandemic are supporting revenue growth

Over the past five years, the Veterinary Services industry has performed very well, with strong demand and revenue growth. Rising pet ownership has positively affected revenue, as have higher procedure prices, increased uptake of pet insurance, and greater demand from urban households and farmers. New Zealand has one of the highest pet ownership rates in the world. According to Companion Animals NZ, there were almost 2.1 million cats and dogs (or companion animals) in New Zealand in 2020 (latest data available). An estimated 41.0% of New Zealand households own at least one cat, with 34.0% owning at least one dog. In absolute terms, both cat and dog ownership numbers have increased. Veterinary service firms provide veterinary medicine or surgical services for domestic animals or livestock. The industry also includes animal hospitals, animal quarantine stations, and other veterinary and animal services. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.