Veterinary Industry Summary: April 7–13, 2024


Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA

April 7–13, 2024


With the second quarter of 2024 underway, we thought it would be interesting to take a closer look at the breakdown of Q1 2024 veterinary practice revenue by category and visits by type compared to Q1 2023. Here’s what we found.

Compared to Q1 2023, every type of visit on average per practice was down in Q1 2024:

  • Wellness visits: -3.5%
  • Sick visits: -0.4%
  • Surgery visits: -6.8%
  • Product-only visits: -5.3%

However, average-per-practice revenue was up in most categories:

  • Lab revenue: 5.6%
  • Pharmacy revenue: 3.7%
  • Professional services revenue: 3.3%
  • Surgery revenue: 1.1%
  • Vaccine revenue: 6.5%
  • Diet revenue: -1.6%
  • Other revenue: 6.5%

Over the last 12 months, practices have increased prices by 9% on average. While it’s unclear how much price increases have contributed to the decline in visits, it is clear that practices are not realizing the full impact of their price changes due to the decline in patients receiving those services. It is also unclear if the decline is due to a segmentation of services, and pet owners choosing alternative options for care.

Check out the Veterinary Industry Tracker for daily stats.

Revenue per Practice

A bar graph showing revenue per practice for last week, compared to the previous year.



Revenue YoY (Last Week)
Visits YoY (Last Week)



Year-over-year revenue and visits fell last week compared to the week prior, with revenue growth dropping from 2.6% to 1.1% and visits falling to -4.5% from -2.1%.

Months of Parasiticide Protection Dispensed


Heartworm YoY
Flea/Tick YoY


Service vs Product Revenue Breakdown


Services YoY
Products YoY



Year-over-year parasiticide protection also tumbled last week. Heartworm and flea/tick fell from -6.8% each the previous week to -12.6% and -14.1% respectively last week. While year-over-year revenue from services was up 3.4%, it dropped from the previous week’s 4.2%, and revenue from products fell to -5.8% from -2.2% the week prior.

Growth in Revenue and Visits
A line graph showing revenue and visits per practice, for a 14 day rolling period.



Revenue YoY (Last 12 Months)
Visits YoY (Last 12 Months)



The rolling 14-day trendline shows revenue and visits steadily declining since mid-March.

Revenue Growth by State
A U.S. map, using color shades to show revenue growth by state.


Patient Demographics


Revenue per Practice
(Last 12 Months)
Visits per Practice
(Last 12 Months)



New Hampshire remained on top for the highest growth in year-over-year revenue last week at 9.4%, with North Carolina coming in second at 8.5%. Only three states saw positive growth in year-over-year visits last week: North Carolina (0.4%), Iowa (0.3%), and New Hampshire (0.1%).

*Numbers are subject to change based on data availability and PIMS adjustments.

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