Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA

January 19–25, 2025

VMX, often the launching place for veterinary innovations, has delivered again this year.

Thirty-two products — including various AI tools, vaccines, cancer treatments, pet foods, and more — were displayed in the New Product Gallery. And, on the third day of the conference, three startup companies competed in the 2025 Pet Pitch Competition, a Shark Tank-style event during which the three finalists competed for a cash prize of up to $5,000 and an invitation to visit IDEXX’s world headquarters in Maine.

The three competing companies included:

• Ease Pet Vet — Founded in April 2024, this behavioral health platform improves access to care for millions of pets suffering from common behavior issues like anxiety and reactivity. The app allows general practice veterinarians and board-certified veterinary behaviorists to more easily collaborate. Through the veterinary practice, Ease Pet Vet’s proprietary algorithm provides pet owners with customized treatment plans and connects them with behaviorists when needed.
• CoVet — Using artificial intelligence, the CoVet app aims to revolutionize veterinary practice management by automating administrative tasks, such as scribing and medical records. Founded in early 2024, the CoVet app is designed for hospitals of all sizes. It includes customizable templates and a library of more than 60 use cases covering all areas of veterinary medicine. It also assists with lab results, discharge instructions, and language barriers.
• Kubanda Cryotherapy — Half of dogs develop a tumor by age 6, yet 90% of these tumors go untreated. Kubanda Cryotherapy helps to better serve pet owners looking for quick and affordable alternatives to surgery for their pets who have been diagnosed with cancer. Cryotherapy provides minimally invasive, non-surgical, and cost-effective cancer treatments to pets, removing lumps and tumors without surgery, which reduces recovery time and improves quality of life.

After questioning each presenter about their innovation and deliberating privately, the judges announced Ease Pet Vet as the winner of the 2025 Pet Pitch Competition. The audience choice winner was Kubanda Cryotherapy.

“This was the tightest pitch competition I’ve been part of,” said Dr. Jules Benson, judge and incoming chair of the Veterinary Innovation Council. “But as we looked at the competitors, Ease was solving a unique problem that wasn’t being addressed elsewhere.”

 

Check out the Veterinary Industry Tracker for daily stats.

 

 

-3.9% Revenue YoY (Last Week)

-9.4% Visits YoY (Last Week)

 

After seeing significant increases two weeks ago, year-over-year veterinary industry revenue and visits declined last week, coming in at -3.9% and -9.4% respectively. Inclement weather last week likely impacted these numbers — 9 of the 10 worst-performing states were located in the southeastern U.S.

 

-15.9% Heartworm YoY

-16.1% Flea/Tick YoY

 

 

-2.2% Services YoY

-9.9% Products YoY

 

Parasiticide purchases, service revenue, and product revenue also declined significantly last week. Year-over-year heartworm and flea/tick purchases were -15.9% and -16.1%, drops from 10.9% and 14.2% respectively the week prior. Service revenue slipped from 15.1% the previous week to -2.2% last week, while product revenue fell from 12.3% to -9.9%.

 

 

+2.8% Revenue YoY (Last 12 Months)

-2.5% Visits YoY (Last 12 Months)

 

The rolling 14-day trendline showed revenue and visits steadily climbing to their highest points in a year.

 

 

5,582 Practices

2.2M Revenue per Practice (Last 12 Months)

10.3K Visits per Practice (Last 12 Months)

 

Colorado and Connecticut saw the highest year-over-year revenue growth last week, coming in at 6.4% and 5.5% respectively. Minnesota was again the only state to see growth in year-over-year visits at 0.1%, with Michigan trailing closely behind at -0.1%.

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

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