UK only European country that has seen significant veterinary consolidation
In this infographic we look at consolidation levels across various European veterinary markets, using data presented at HBI 2024 in our first ever panel dedicated to the sector.
Based on the data provided by investment bank UBS and presented by Christophe Navarro, CEO of Univet (a 30-clinic veterinary chain in the south of France), at the ‘New sector in focus: Vet services’ panel at HBI 2024, the UK is an outlier, being the only European country where almost half the market is made up of corporate chain clinics. But even in the UK, independent clinics remain a sizeable 41% of the market.
The rest of Europe paints a significantly different picture, with independent clinics representing two thirds of the market at least. Belgium and Spain’s markets are 91% and 92% independent practices respectively.
These independent practices represent a huge opportunity for corporate groups to develop their competitive edge and consolidate markets.
The sector proves to be resilient and has similar drivers to human health clinics as household pet ownership rates are steadily growing, and pets are also living longer lives resulting in more medications and medical procedures at the later stages of their lives.
Those who attended HBI 2024 are able to view a recording of the “New sector in focus: Vet services” session on-demand on the HBI Swapcard app and website.
We would welcome your thoughts on this story. Email your views to Theo Murray or call 0207 183 3779.
