Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA

May 3-9, 2026

 

According to a Forbes article by Marshall Morris, the U.S. pet market is projected to reach $165 billion by 2026 and is experiencing a “K-shaped” split. Morris explains, “…the middle of the market is quietly disappearing. This is what economists call a K-shaped recovery — two groups moving in opposite directions simultaneously. One arm points up. The other points down.”

Pet ownership has fallen to 66% from 70% in 2021, while cumulative costs have surged 29% since 2019. This financial pressure means 42% of owners would go into debt from a $1,000 vet bill, driving a 3.5% rise in budget store-brand pet food. Meanwhile, premium loyalty remains high in “preventive” wellness, with subscription-based brands scaling at 19% annually.
Morris theorizes that as the middle market dwindles, brands may need to choose one arm of the K-shaped market to prioritize — either specific premium value or affordable and accessible products.

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1.4% Revenue YoY (Last Week)

-2.8% Visits YoY (Last Week)

 

Year-over-year veterinary industry revenue saw a slight increase last week. Revenue was up to 1.4% from 1.2% the week prior, and visits increased to -2.8% from -3.6% in the same time period.

 

-6.8% Heartworm YoY

-4.3% Flea/Tick YoY

 

 

2.4% Services YoY

-2.0% Products YoY

 

Preventatives and products were up last week compared to the prior week, with heartworm climbing from -11.0% to -6.8% and flea/tick experiencing a boost from -8.9% to -4.3%.

Services took a slight dip from 2.7% to 2.4% in the same time period.

 

 

 

+3.1% Revenue YoY (Last 12 Months)

-2.3% Visits YoY (Last 12 Months)

 

The rolling 14-day trendline shows revenue and visits tumbling since last month.

 

 

 

6,575 Practices

2.1M Revenue per practice (Last 12 months)

9.8K Visits per practice (Last 12 months)

 

Maine holds the lead for year-over-year revenue at 5.8%, while Massachusetts and Oregon are tied for second place at 5.2%.

Oregon is once again the only state with positive year-over-year visits at 0.4%, with Nevada and Washington close behind at -0.7% and -0.8% respectively.

 

 

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

 

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