The U.S. market for veterinary services is undergoing transformation, according to Packaged Facts’ new report, “Pet Industry Outlook: Veterinary Services and Pet Product Retailing.” The industry has long been the domain of independent practitioners, but recent years have seen significant consolidation in the industry, with veterinary practices being bought up under one umbrella.
Source: Petfood Industry, July 5, 2018. (paywall) Link.
And as big-box pet product retailers seek ways to stave off the loss of sales to e-commerce, they’re increasingly looking to veterinary and non-medical pet services. Most animal hospitals remain independent, but between the aging demographics of the veterinarian profession, the heavy debt load of recent veterinary school graduates, and the money being offered by consolidators, the consolidation wave will continue.