Veterinary Industry Summary: December 10–16, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
December 10–16, 2023
Chewy is officially entering the veterinary care space. The organization announced on December 14 that the first “Chewy Vet Care” practice will open early next year in Plantation, Florida. Additional Chewy Vet Care locations will launch throughout 2024. Open positions are currently being advertised in Plantation, Florida, and Denver, Colorado.
Expanding into veterinary care is the next natural step in the organization’s evolution, according to Chewy Health President Mita Malhotra. The Chewy Vet Care practices will offer routine appointments, urgent care services, and surgery.
In the organization’s fiscal year 2022 annual report, Chewy acknowledged, “We compete directly and indirectly with veterinarians for the sale of pet medications and other health products. Veterinarians hold a competitive advantage because many pet owners may find it more convenient or preferable to purchase prescription medications directly from their veterinarians at the time of an office visit.”
With year-over-year veterinary visits down, prices up, and continued staffing struggles in certain geographic areas, how Chewy Vet Care will affect the pet healthcare climate remains to be seen. But as competition in the pet healthcare space continues to increase, existing veterinary practices that focus on learning what their clients want, and work to meet those needs, will be better prepared to stand out among the crowd.
NOTE: The Vetsource Industry Summary blog post will be back on January 3, 2024. Happy holidays, and see you next year!
Check out the Veterinary Industry Tracker for daily stats.
| +4.1% Revenue YoY (Last Week) |
-1.6% Visits YoY (Last Week) |
Year-over-year revenue and visits declined slightly last week compared to the previous week. Revenue fell to 4.1% from 4.8% and visits dropped to -1.6% from -0.5% the week prior.
 -6.9%Heartworm YoY |
-4.5% Flea/Tick YoY |
 +5.8%Services YoY |
-1.2% Products YoY |
Year-over-year parasiticide protection declined last week, with heartworm falling by 1.6% and flea/tick slipping by 2.7% compared to the previous week. Revenue from services was 5.8%, a drop from the prior week’s 6.2%, and revenue from products fell into negative territory again, sliding from 0.6% to -1.2%.
| +6.2% Revenue YoY (Last 12 Months) |
-1.5% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows year-over-year revenue slowly declining while visits held steady since recent peaks in mid-November.
| 5,145 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
West Virginia continued to enjoy the highest year-over-year visits growth last week, coming in at 2.7%. North Carolina’s year-over-year revenue growth topped every other state at 11.0%.
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.
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