Political and policy discussions almost invariably begin with statements on the value – usually expressed in financial terms – of a given activity to the UK economy. This can have a major effect on the priority afforded to the topic. Although many different bodies and interest groups recognise aspects of ‘value’ of the veterinary industry, we have no evidence-based aggregate figure of the financial value of this industry in its entirety, nor even of the total number of people who derive employment through it. A relatively small number of directly employed veterinary surgeons, members of the veterinary team, and those engaged in veterinary science, have a critical role in many large commercial and industrial activities of high economic value. At a time when our sector is seeking to get adequate parliamentary time to introduce new primary legislation governing the regulation of veterinary activities, as well as increased support for veterinary education, and given the importance of biosecurity and food security, and the upcoming report stage of the CMA, amongst other things, a project to estimate the Gross Value Added by the veterinary sector to the UK economy would be hugely valuable. 

 

Since 2024, we have been drafting an outline of such a project and have drawn up a list of activities with an important veterinary dimension. These range from the production of healthy, safe and environmentally sustainable food, maintaining animal health and welfare, support for the equine industries, veterinary pharmaceutical industry and many other activities. An analysis would go beyond the simple financial turnover of a particular activity, but would include the valuation of more abstract concepts such as the value of preventing disease epidemics in both humans and animals - so called contingency evaluation - and the benefit to human wellbeing of animal ownership, for which there are now well-established economic methods. One challenge, of course, is defining the extent of the veterinary sector which in many areas inevitably interacts and overlaps in a complex of Venn diagrams with other activities. But again, economists now have methods to make informed estimations on the contributions of groups to multidisciplinary activities.

 

Not having the resources or expertise to carry out such an analysis and with the agreement of the VPRF’s Board of Directors, we have commissioned an economic consultancy (BiGGAR Economics) with relevant experience in economic impact assessments, to undertake this study in July 2025, and funded by the VPRF using income accrued over the past 12 years. This approach is intended to provide a detailed report which will include descriptions of what assumptions and estimations have been made and what veterinary activities have been included. These results will be made freely available, hopefully by the end of this year. Major objectives are to determine estimates of the economic contribution of the veterinary sector in terms of Gross Value Added to the UK economy, and of the number of people who derive employment through the industry. We anticipate that the study will also highlight the incredible range of activities with a veterinary dimension which, amongst other things, could inspire much wider career aspirations amongst the veterinary community.