Veterinary Industry Summary: October 2022

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

 

October 2022 Monthly Recap

With economic experts highlighting a weakening global economy and pointing toward a likely U.S. recession, businesses should prepare for continued volatility ahead. We see this uncertainty reflected in U.S. veterinary practice performance for the month of October. Even though overall revenue growth was up last month, when compared to September, October’s year-over-year revenue, visits, and parasiticides metrics were all trending down. These metrics are based on transactional data from around 4,600 veterinary practices across the United States.

See more details below and check out the Veterinary Industry Tracker.

 

OCTOBER 2022
Growth in Revenue and Visits
A line graph showing revenue and visits per practice, for a 14 day rolling period.

 

+4.4%
Revenue YoY
-4.2%
Visits YoY

 

Revenue growth was 4.4% while visits continue to lag behind and were down -4.2% year-over-year in October. Both metrics are lower than what we saw in September.

 


Months of Parasiticide Protection Dispensed
-4.6%
Heartworm YoY
-6.4%
Flea/Tick YoY
Service vs Product Revenue Breakdown
+6.1%
Services YoY
-0.2%
Products YoY

 

In October, months of heartworm and flea/tick protection dispensed were down, revenue from services was up, and revenue from products was essentially flat. Each of these metrics are down compared to September’s metrics.

 


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

 

Maine
9.2% Revenue YoY
Oregon
8.3% Revenue YoY
Arizona
7.5% Revenue YoY

 

Our top three performing states for average year-over-year veterinary revenue growth for October are Maine, Oregon, and Arizona. 

 

*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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