Veterinary Industry Summary: Oct 23-29, 2022

Kate Zirkle
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Stats from the Veterinary Industry Tracker powered by Vetsource and the AVMA

 

Oct 23-29, 2022

As the month of October winds down, Americans gear up for daylight savings, fall weather, and a fast-approaching holiday season. This past week, U.S. veterinary practices saw that year-over-year revenue growth was up 3.7% while growth in visits dropped to -4.9%. Revenue from professional services was up 5.7% year-over-year, we also saw months of heartworm and flea/tick protection dispensed drop even lower this past week. You can see more details below and check out the Veterinary Industry Tracker for daily stats.

 

LAST WEEK
Revenue per Practice
A bar graph showing revenue per practice for last week, compared to the previous year.

 

+3.7%
Revenue YoY (Last Week)
-4.9%
Visits YoY (Last Week)

 

Revenue growth was up again this past week at 3.7% which is slightly higher than the week before and visits dropped further to -4.9% year-over-year this past week.

 


LAST WEEK
Months of Parasiticide Protection Dispensed
-6.8%
Heartworm YoY
-8.9%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+5.7%
Services YoY
-2.0%
Products YoY

 

Heartworm and flea/tick protection dispensed continued to decline this past week from the week prior. Product revenue was still down -2.0% year-over-year, but we saw a slight increase in service revenue.

 


LAST 12 MONTHS
Growth in Revenue and Visits
A line graph showing revenue and visits per practice, for a 14 day rolling period.

 

+6.1%
Revenue YoY (Last 12 Months)
-2.2%
Visits YoY (Last 12 Months)

 

The rolling 14-day trendline for revenue and visits growth year-over-year was noticeably higher in 2021 before declining in January 2022. This spiked significantly in February and slightly in July but appears to be settling in overall at a lower rate than what we saw in 2021. We saw it climb in September and fluctuate in October, ultimately ending last month a bit down.

 


LAST 12 MONTHS
Revenue Growth by State
A U.S. map, using color shades to show revenue growth by state.

 

Patient Demographics
4,604
Practices
1.9M
Revenue per Practice
(Last 12 Months)
10.6K
Visits per Practice
(Last 12 Months)

 

Maine is the top state for year-over-year revenue growth on average for the past 12 months, with 11.3% growth. For daily state-specific stats, please see the Premium Veterinary Industry Tracker.

 

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


Need additional stats? You got it.

The Premium Veterinary Industry Tracker lets you drill into revenue categories, visit types, date ranges, states, and more.

 

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