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Sector

Veterinary

Veterinary CPD training

The market size of the UK veterinary services industry has grown at a compound annual growth rate (CAGR) of 3.2% between 2017 and 2022. This market is expected to increase by 12.1%, reaching £5.1bn in 2022. The expansion has been supported by increased household disposable income, pet ownership rates among UK households, and the continued ‘humanisation’ of pets.

This market is expected to increase by 12.1%, reaching £5.1bn in 2022

Increasingly advanced medical, surgical and diagnostic procedures, along with the growing availability of new drugs, are expected to increase the range of services that vets can provide, further contributing to market growth.

The UK pet population has increased dramatically since COVID-19, growing from 41% in 2019 to 62% in 2022, booming particularly among young people seeking companionship during lockdown.

Increasing consumer awareness on animal health and welfare has provided the industry with a degree of immunity from weak economic conditions, as well as veterinary spend being non- discretionary for most households.

(www.clearwaterinternational.com)

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