Veterinary Industry Summary: August 20–26, 2023


Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA

August 20–26, 2023


Inflation and the workforce shortage continued to dominate veterinary industry conversations.

While national inflation slowed to 3.2% in July, pet industry inflation was still up 8.7%. In fact, total pet prices have increased 22.7% since 2019, forcing many pet owners to prioritize their spending and many veterinary practices to reconsider price increases.

On the workforce front, the University of Arizona College of Veterinary Medicine graduated its inaugural class last week. UA’s expedited three-year program produced 106 new veterinarians.

Meanwhile, in Utah, 32 first-year students began veterinary school at Utah State University’s new College of Veterinary Medicine. The class will graduate in 2027.

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 held fairly steady, up 3.6% last week compared to 3.5% the week prior. Visits continued to decline, however, with year-over-year numbers falling to -2.9%.

Months of Parasiticide Protection Dispensed


Heartworm YoY
Flea/Tick YoY


Service vs Product Revenue Breakdown


Services YoY
Products YoY



Parasiticide protection dispensed continued to decline last week. Heartworm fell to -5.6% and flea/tick fell to -4.1%, declines of 2.3% and 1% respectively over the past three weeks. Revenue from services held steady last week, but revenue from products fell to 0.2% from 0.5% 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 year-over-year revenue at its lowest since January 2023 and visits declining over the past month after a slight spike in July.

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)



North Carolina and Tennessee continued to experience the highest average growth in year-over-year revenue and visits for the past 12 months. California and Kansas experienced the lowest average revenue growth at 3.9% and 3.8% respectively, as well as the biggest average declines in year-over-year visits at -5.4% and -4.5% respectively.

For daily state-specific stats, see the Premium Veterinary Industry Tracker at

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

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




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