Veterinary Industry Summary: October 2022
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.
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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.
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.
9.2% Revenue YoY
8.3% Revenue YoY
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.
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