Veterinary Industry Summary: August 27–September 2, 2023
![industryblog_banner-350 industryblog_banner-350](https://veterinaryanalytics.com/wp-content/uploads/2022/07/industryblog_banner-350.png)
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
August 27–September 2, 2023
MarketWatch, a subsidiary of Dow Jones & Company, released the results of a recent study analyzing data across 11 metrics to discover the cost of owning a dog in every U.S. state.
Because costs vary by breed, the MarketWatch team focused on average costs for a Labrador retriever — the most popular dog breed in the U.S., according to the American Kennel Club. Metrics included average costs for vaccines, general supplies, spay/neuter, preventative medicine, pet insurance, pet food, annual veterinary visits, toys and treats, boarding costs, emergency veterinary visits, and grooming. The cost of purchasing or adopting a dog was not included in the data.
Key findings from the study include:
- The average U.S. dog owner spends about $28,800 on a dog over the pet’s lifetime.
- Dog ownership is most expensive in California ($35,452) and New York ($34,248).
- Dog ownership is least expensive in Oklahoma ($24,855) and Mississippi ($25,104).
Check out the Veterinary Industry Tracker for daily stats.
+1.2% Revenue YoY (Last Week) |
-4.4% Visits YoY (Last Week) |
Year-over-year revenue and visits experienced steep declines last week. While revenue was still up 1.2%, it fell 2.4% from the previous week, and visits fell from -2.9% the week prior to -4.4% last week.
![]() Heartworm YoY |
![]() Flea/Tick YoY |
![]() Services YoY |
![]() Products YoY |
The decline in year-over-year parasiticide protection dispensed nearly doubled last week compared to the previous week. Heartworm fell from -5.6% to -10.6%, and flea/tick fell from -4.1% to -8.5%. Revenue from services was still up 2.8%, but it fell from 4.9% the week prior. Revenue from products was down to -2.4%, a more than 2% drop from the previous week.
![A line graph showing revenue and visits per practice, for a 14 day rolling period.](https://veterinaryanalytics.com/wp-content/uploads/2023/09/newtracker-2023inv-rev_09.05.png)
+6.5% Revenue YoY (Last 12 Months) |
-1.9% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows year-over-year revenue and visits continuing to trend downward, with revenue at its lowest since January 2023 and visits declining over the past month after a slight spike in July.
![A U.S. map, using color shades to show revenue growth by state.](https://veterinaryanalytics.com/wp-content/uploads/2023/09/newtracker-2023by-state_09.05-1.png)
5,058 Practices |
2.0M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
Massachusetts and North Carolina experienced the highest average growth in year-over-year revenue for the past 12 months, at 11.5% and 11.4% respectively. Tennessee enjoyed the highest average growth in year-over-year visits at 2.4%.
For daily state-specific stats, see the Premium Veterinary Industry Tracker at VeterinaryAnalytics.com.
*Numbers are subject to change based on data availability and PIMS adjustments.
![](https://veterinaryanalytics.com/wp-content/uploads/2022/07/icon_laptop-graph-tall.png)
Need additional stats? You got it.
The Premium Veterinary Industry Tracker lets you drill into revenue categories, visit types, date ranges, states, and more.
LEARN MORE » |