Veterinary Industry Summary: November 19–25, 2023
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
November 19–25, 2023
Inflation and “petflation” are slowing. Last month, petflation fell to 5.2% compared to October 2022, but it still remained above the national inflation rate of 3.2%. And, according to the Pet Business Professor, even minor price changes can impact pet spending.
Could that mean good news for pet retailers as the holiday season goes into full swing?
The 2023-2024 American Pet Products Association (APPA) National Pet Owners Survey revealed that it’s becoming more common for pet owners to purchase holiday gifts for their pets.
What are some of the top pet products this holiday season? APPA compiled a list of this season’s most popular pet toys, foods and treats, grooming essentials, walking accessories, home products, and more. Check out the list here.
Check out the Veterinary Industry Tracker for daily stats.
| +5.4% Revenue YoY (Last Week) |
-0.5% Visits YoY (Last Week) |
Year-over-year revenue and visits held steady last week, with no change in revenue and visits dropping 0.5% compared to the previous week.
 -3.4%Heartworm YoY |
 +2.6%Flea/Tick YoY |
| +6.6% Services YoY |
+2.4% Products YoY |
Year-over-year parasiticide protection improved slightly last week. While year-over-year heartworm was -3.4%, it improved by 1.7% over the previous week, and flea/tick was up by 0.4% over the week prior. Revenue from services and products was flat at 6.6% and 2.4% respectively.
| +6.2% Revenue YoY (Last 12 Months) |
-1.8% Visits YoY (Last 12 Months) |
The rolling 14-day trendline shows year-over-year revenue and visits continuing to trend in the right direction, with visits holding in positive territory for the first time since July 2023.
| 5,144 Practices |
2.0M Revenue per Practice (Last 12 Months) |
10.5K Visits per Practice (Last 12 Months) |
North Carolina’s year-over-year revenue growth was 11.0% last week, while West Virginia came in at 9.9%. On the year-over-year visits side, West Virginia saw the highest growth at 2.4%, with North Carolina and Tennessee trailing closely behind at 2.0% each.
For daily state-specific stats, see the Premium Veterinary Industry Tracker at VeterinaryAnalytics.com.
*Numbers are subject to change based on data availability and PIMS adjustments.
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