Veterinary Industry Summary: July 28–August 3, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
July 28–August 3, 2024
According to the 2024 Hill’s Pet Nutrition State of Shelter Pet Adoption Report, the cost of owning a pet continues to be the biggest barrier to pet adoption.
The report includes findings based on responses from an economically diverse group of 2,500 current and prospective pet owners in the United States.
Some key takeaways from the report include:
- 66% of respondents said they are likely to adopt a shelter pet.
- Younger Americans are even more likely to adopt — of Gen Z and millennial respondents who have never adopted a shelter pet, 75% and 77% respectively are likely to adopt.
- Nearly 50% of respondents cited the cost of pet ownership as the biggest barrier to adoption.
- 84% said veterinary care is the most expensive part of owning a pet.
- Those making less than $75,000 annually are more likely to surrender a pet to a shelter because of financial difficulties.
- Those earning less than $50,000 annually are more likely to have experienced at least one pet-related housing restriction and are more likely to say the cost of veterinary care impacts their decision to adopt.
Read the full 2024 Hill’s Pet Nutrition State of Shelter Pet Adoption Report.
Check out the Veterinary Industry Tracker for daily stats.
| +0.4% Revenue YoY (Last Week) |
-3.7% Visits YoY (Last Week) |
Year-over-year veterinary industry revenue remained flat last week at 0.4%, down slightly from 0.9% the week prior. Visits were unchanged compared to the previous week at -3.7%.
 -11.6%Heartworm YoY |
-11.5% Flea/Tick YoY |
 +2.0%Services YoY |
-4.5% Products YoY |
Year-over-year parasiticide protection remained in negative territory last week, with heartworm protection at -11.6% and flea/tick protection at -11.5% (changes from -11.0% and -12.0% respectively the week prior). Year-over-year revenue from services fell from 2.7% to 2.0%, and revenue from products fell from -4.1% to -4.5%.
| +3.8% Revenue YoY (Last 12 Months) |
-2.4% Visits YoY (Last 12 Months) |
The rolling 14-day trendline showed revenue and visits leveling off since mid-July.
| 5,532 Practices |
2.1M Revenue per Practice (Last 12 Months) |
10.4K Visits per Practice (Last 12 Months) |
Last week, Minnesota enjoyed higher year-over-year revenue and visits than any other state, with revenue at 7.0% and visits at 0.4%. New Hampshire and Connecticut came in second, with New Hampshire’s year-over-year revenue at 6.9% and Connecticut’s year-over-year visits at -0.4%.
*Numbers are subject to change based on data availability and PIMS adjustments.
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