Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA

March 9-15, 2025

What’s the economic state of the veterinary industry? A WVC session with AVMA Chief Economist Katelyn McCullock and AVMA Assistant Director for Strategic Business Research Chris Doherty, DVM, MBA, CBV, dug into the economic indicators.

A recent Today’s Veterinary Business article summarizing the session highlighted four key takeaways:

• Consumers are spending less, and more are relying on credit to cover expenses. McCullock discussed how recent White House policies, including federal layoffs and tariffs, could affect pet owner spending.
• With the U.S. pet population steadily growing, there are opportunities in veterinary medicine. According to Dr. Doherty, the share of pet owners who have visited the veterinarian in the past year is up nearly 70% overall, but the time between visits continues to grow.
• Real veterinary income is flat. Dr. Doherty said that veterinarian salaries and incomes are where they were in 2000 when adjusted for inflation.
• Veterinarians are working fewer hours. After peaking in 2021 at 45, the median number of hours worked per veterinarian per week has dropped to 42, according to a survey of AVMA members.

 

Check out the Veterinary Industry Tracker for daily stats.

 

 

+1.8% Revenue YoY (Last Week)

-3.4% Visits YoY (Last Week)

 

Year-over-year veterinary industry revenue climbed back into positive territory last week, jumping from -2.4% to 1.8%. Visits improved from -6.0% the week prior to -3.4% last week.

 

-6.9% Heartworm YoY

-9.3% Flea/Tick YoY

 

 

+3.4% Services YoY

-3.6% Products YoY

 

While parasiticide purchases improved slightly last week, the year-over-year numbers remained down. Heartworm was -6.9% (compared to -11.1% the previous week), and flea/tick was -9.3% (compared to -15.7% the week prior). Year-over-year service revenue jumped from -0.8% to 3.4%, and product revenue was -3.6%, an improvement over the previous week’s -7.4%.

 

 

+2.6% Revenue YoY (Last 12 Months)

-2.6% Visits YoY (Last 12 Months)

 

The rolling 14-day trendline showed revenue and visits leveling off since early February lows.

 

 

5,715 Practices

2.2M Revenue per Practice (Last 12 Months)

10.2K Visits per Practice (Last 12 Months)

 

Colorado and Massachusetts saw the most year-over-year revenue growth last week at 6.1% and 5.9% respectively. Colorado was also one of only two states to enjoy positive year-over-year visits growth, tying with Oregon at 0.2%.

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

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