Veterinary Industry Summary: Aug 21-27, 2022

Kate Zirkle
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Stats from the Veterinary Industry Tracker powered by VetSuccess and the AVMA


 

Aug 21-27, 2022

As U.S. pet owners battled rising prices and inflation, veterinary practices saw modest year-over-year revenue growth while year-over-year growth in visits continued to struggle. Year-over-year growth was at 4.9% for revenue and -3.1% for visits. Revenue from professional services again accounted for much of that growth in revenue, at nearly 7% year-over-year. Months of heartworm and flea/tick protection dispensed were down again this past week and down compared to the week prior. Product revenue was flat, slightly higher than what we saw the week prior. You can see more details below and check out the Veterinary Industry Tracker for daily stats.

 

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

 

+4.9%
Revenue YoY (Last Week)
-3.1%
Visits YoY (Last Week)

 

Revenue growth was at 4.9% this past week while visits continue to lag behind and were again down -3.1% year-over-year this past week. Revenue growth is up slightly compared to what we saw the week prior, while visits growth is the same.

 


LAST WEEK
Months of Parasiticide Protection Dispensed
-4.1%
Heartworm YoY
-4.8%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+6.7%
Services YoY
-0.1%
Products YoY

 

Heartworm and flea/tick protection dispensed were down again this past week, while revenue from services was up nearly 7% and revenue from products was essentially flat. Compared to the week prior, heartworm and flea/tick protection dispensed were down while revenue from products and services were both up slightly.

 


LAST 12 MONTHS
Growth in Revenue and Visits
A line graph showing revenue and visits per practice, for a 14 day rolling period.

 

+6.5%
Revenue YoY (Last 12 Months)
-1.2%
Visits YoY (Last 12 Months)

 

The rolling 14-day trendline for revenue and visits growth year-over-year was fairly consistent in 2021, but then declined in January 2022. This spiked in February but then declined again and appears to be settling in overall at a lower rate than what we saw in 2021. Recently we saw a small spike in July and are now seeing it climb again in August.

 


LAST 12 MONTHS
Revenue Growth by State
A U.S. map, using color shades to show revenue growth by state.

 

Patient Demographics
4,718
Practices
1.9M
Revenue per Practice
(Last 12 Months)
10.9K
Visits per Practice
(Last 12 Months)

 

Georgia is the top state for year-over-year revenue growth on average for the past 12 months, with 10.6% growth. For daily state-specific stats, please see the Premium Veterinary Industry Tracker.

 

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


Need additional stats? You got it.

The Premium Veterinary Industry Tracker lets you drill into revenue categories, visit types, date ranges, states, and more.

 

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