The wages and salaries of veterinary services in Finland have shown consistent growth from 2014 to 2023, increasing from 49.5 million euros in 2014 to 111.7 million euros in 2023. Year-on-year variation highlights some key trends with significant jumps, notably a 14.3% increase in 2020, a likely result of increased demand due to the pandemic. The compound annual growth rate (CAGR) over the last five years (2019-2023) stood at 10%, indicating a strong upward trend.
The forecasted data from 2024 to 2028 suggest a slower but steady increase, with total wages and salaries expected to reach 150.9 million euros by 2028. The forecast 5-year CAGR is 4.76%, depicting a moderation compared to previous growth rates, but still indicative of healthy industry expansion. Over the long term, the sector is projected to grow by 26.17% from 2023 to 2028.
Future trends to watch for include increasing demand for pet-related services, advances in veterinary technology, and potential labor market constraints which may impact wage growth. These factors could shape the veterinary services landscape in Finland over the coming years.
