4 Interesting Trends In The Veterinary Industry

Love animals? While there is a range of career options for people who absolutely adore animals, many choose to go down the road of becoming a veterinarian. 

The increase in people choosing to undertake a degree that will qualify them to work in the industry only proves this, with course applications at the International Career Institute UK increasing from 430 in 2013 to 599 in 2018. It just goes to show how the pet industry is becoming an increasingly popular industry to work in.

A bit of history

Veterinary medicine is not new. In fact, it’s been around since ancient times, with its early development occurring in Mongolia more than 3000 years ago. Since these early days, humans have relied on animals for service, food, and companionship. 

Today, animals also play a vital role in health and research. Of course, with the advancement of healthcare and technology, the veterinary industry has changed dramatically. Now, there is a whole range of job opportunities afforded to people who study veterinary care.

Today, the veterinary industry is worth more than four billion dollars and employs more than 25,000 people across around 3200 businesses. There is a whole range of opportunity for those wishing to work with animals and a wide range of services offered to patients. There has also been a growth in the number of households actually having a pet. In fact, Australia has one of the highest pet ownership rates in the world.

The trends

As with every other industry, there are various trends occurring through the pet market that will shape and change the future of the industry.

1. Big data

It’s something that is shaping absolutely everything in the world at the moment, and big data and wearables have hit the veterinary industry too. Wearables can be worn by pets to monitor health, and big data is being used to diagnose and assess diseases. 

The wearables are able to monitor temperature, heart rate, pH levels, and respiration rate. This information is then transmitted to owners or farmers and also the animal’s vet so that diseases can be caught early and treated.

2. Hey big spenders

Pets are most definitely even more part of the family now than ever before. As a result of this, owners are spending much more on their pets generally (All About Cats explain just how much on their blog), but also on their pets’ health. 

There’s been a higher pet insurance uptake in Australia and owners are willing to spend more on procedures to prolong the life of their pet. As such, animal hospitals and veterinary facilities are in desperate need for more vets and vet assistants.

3. Increasing livestock population

In the coming years, the global livestock and poultry population is expected to rise, especially in China, India, and Brazil. This rising population is increasing income levels in the industry and as such, the demand for livestock products is increasing. As a direct result of this, the global veterinary market is benefiting.

4. The rise of telehealth

There is an increasing amount of direct communications between vets and clients either via phone, email or even video conference. This is all due to the changes in, and availability of, technology.

Many clients now expect veterinarian clinics to offer telehealth services and expect a certain level of personalised care when it comes to their animals. This not only helps vet/client communication, but it also means clients can attend appointments even if they’re unable to be there in person and vets can treat senior pets who may not be able to travel to the clinic itself. It’s also a great thing for people with companion animals who need frequent checkups, as it decreases the need to physically visit a clinic.

How this will impact the veterinary industry

These trends will have a dramatic impact on the veterinary industry. It’s believed that there will be growth in the industry, which in turn means there’s a dramatic need for more students to enter veterinarian courses. 

According to an industry report, 72% of people consider animals as family members. This is particularly true when it comes to millennials. People are more willing to spend on their animals to ensure they are around for much longer. There’s also a much greater awareness of animal welfare, largely thanks to social media, which means people generally have a unique responsibility to ensure animals are well cared for and facilities are managed correctly.