Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA

March 16-22, 2025

You’ve undoubtedly heard about how the current administration’s tariffs could impact the cost of everything from eggs to cars, but how could these import taxes affect veterinary medicine?

Many products that U.S. veterinary practices rely on, including pharmaceuticals, supplies, equipment, and pet foods, are imported into the U.S. Tariffs on these products could increase operating costs for veterinary practices, which may affect:

• The cost of veterinary care — Rather than absorb the full cost of the tariffs, many practices may be forced to pass these costs on to pet owners. But, with “petflation” significantly outpacing general inflation and year-over-year veterinary visits declining, can the industry afford to raise prices now?
• Veterinary salaries, bonuses, and benefits — As practices feel the pinch of tariffs, many could be forced to delay or reduce staff pay increases and bonuses. Benefits like continuing education stipends, student debt repayment, and retirement contributions may be affected.
• Veterinary team well-being — In addition to the potential negative impact on veterinary team compensation and benefits, the increased cost of care could lead to more frustrated clients, more difficult financial conversations, and more economic euthanasia. All of this may negatively impact the mental health and well-being of veterinary professionals.

 

Check out the Veterinary Industry Tracker for daily stats.

 

 

+1.1% Revenue YoY (Last Week)

-4.0% Visits YoY (Last Week)

 

Veterinary industry revenue and visits declined slightly last week compared to the week prior. Year-over-year revenue fell from 1.8% to 1.1%, while visits dropped from -3.4% to -4.0%.

 

-6.2% Heartworm YoY

-6.4% Flea/Tick YoY

 

 

+2.4% Services YoY

-3.3% Products YoY

 

Year-over-year parasiticide purchases remained in negative territory last week. Heartworm improved slightly from -6.9% the previous week to -6.2% last week, while flea/tick made a bigger jump from -9.3% to -6.4%. Revenue from services was up 2.4% year over year (down from 3.4% the week prior), and revenue from products was -3.3% (a slight change from the previous week’s -3.6%).

 

 

+2.6% Revenue YoY (Last 12 Months)

-2.6% Visits YoY (Last 12 Months)

 

The rolling 14-day trendline showed gradual improvements in revenue and visits over the past month.

 

 

5,759 Practices

2.2M Revenue per Practice (Last 12 Months)

10.2K Visits per Practice (Last 12 Months)

 

Last week, Colorado and Massachusetts again enjoyed the most year-over-year revenue growth at 6.0% and 5.9% respectively. Oregon was the only state to see positive growth in year-over-year visits at 0.1%.

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

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