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Who Let the Dogs Out? Unleashing the South Korean Veterinary Market

Elmstedt, Klas LU and Ribbing Kristoffers, Carl LU (2025) MIOM05 20251
Department of Mechanical Engineering Sciences
Production Management
Abstract
South Korea’s veterinary market has shown strong growth over the recent years. The key drivers of this growth include: Increasing pet ownership, urbanisation and a shifting societal view on pets as family members. This shifted view is what’s called a humanisation of pets. The purpose of this thesis is to analyse and describe the potential market demand for a service offering aimed at supporting veterinary clinics in South Korea. The study evaluates the competitive landscape, macroeconomic environment, and current service offerings in the market by combining the theoretical frameworks Porter’s Five Forces, PESTEL and the Value Proposition Canvas.

The research has been conducted in an abductive manner, using both primary data from... (More)
South Korea’s veterinary market has shown strong growth over the recent years. The key drivers of this growth include: Increasing pet ownership, urbanisation and a shifting societal view on pets as family members. This shifted view is what’s called a humanisation of pets. The purpose of this thesis is to analyse and describe the potential market demand for a service offering aimed at supporting veterinary clinics in South Korea. The study evaluates the competitive landscape, macroeconomic environment, and current service offerings in the market by combining the theoretical frameworks Porter’s Five Forces, PESTEL and the Value Proposition Canvas.

The research has been conducted in an abductive manner, using both primary data from interviews and secondary data from industry reports and academic literature. South Korea is identified as a promising market due to its fragmented clinic landscape, and emerging demand for veterinary services. The study highlights both barriers and opportunities, including regulatory constraints, buyer behavior, and potential differentiators such as digital solutions.

At last, strategic recommendations are proposed regarding a potential market entry into South Korea and optimal service offering based on local needs. The findings contribute to both academic literature and practical business applications, offering valuable insights for stakeholders aiming to enter or expand within South Korea’s evolving veterinary sector. (Less)
Popular Abstract
This study identifies a growing market opportunity in South Korea’s fragmented veterinary sector and shows that targeted support services for small clinics hold strong potential.
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author
Elmstedt, Klas LU and Ribbing Kristoffers, Carl LU
supervisor
organization
course
MIOM05 20251
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Veterinary services, South Korea, market analysis, competitive landscape, service offering, urbanisation, pet ownership, pet industry
other publication id
25/5303
language
English
id
9192254
date added to LUP
2025-06-17 16:33:27
date last changed
2025-06-17 16:33:27
@misc{9192254,
  abstract     = {{South Korea’s veterinary market has shown strong growth over the recent years. The key drivers of this growth include: Increasing pet ownership, urbanisation and a shifting societal view on pets as family members. This shifted view is what’s called a humanisation of pets. The purpose of this thesis is to analyse and describe the potential market demand for a service offering aimed at supporting veterinary clinics in South Korea. The study evaluates the competitive landscape, macroeconomic environment, and current service offerings in the market by combining the theoretical frameworks Porter’s Five Forces, PESTEL and the Value Proposition Canvas.

The research has been conducted in an abductive manner, using both primary data from interviews and secondary data from industry reports and academic literature. South Korea is identified as a promising market due to its fragmented clinic landscape, and emerging demand for veterinary services. The study highlights both barriers and opportunities, including regulatory constraints, buyer behavior, and potential differentiators such as digital solutions.

At last, strategic recommendations are proposed regarding a potential market entry into South Korea and optimal service offering based on local needs. The findings contribute to both academic literature and practical business applications, offering valuable insights for stakeholders aiming to enter or expand within South Korea’s evolving veterinary sector.}},
  author       = {{Elmstedt, Klas and Ribbing Kristoffers, Carl}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Who Let the Dogs Out? Unleashing the South Korean Veterinary Market}},
  year         = {{2025}},
}