Veterinary Industry Summary: October 6–12, 2024
Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA
October 6–12, 2024
The second annual State of Emergency and Specialty Veterinary Care Report has revealed that, while morale has improved, staffing shortages and high turnover continue to challenge emergency and specialty veterinary practices.
Conducted by Instinct Science, the report includes survey responses from 545 emergency and specialty veterinary professionals. Key survey findings include:
- 78% of practices reported staffing shortages, a slight improvement from 86% in 2023.
- 79% of practices reported experiencing turnover among veterinary technicians.
- 54% of respondents reported high or very high morale, up from last year’s 34%.
- 57% reported that adopting new technology contributed to improved work-life balance.
- 35% of respondents reported difficulties related to compensation, up from 27% in 2023.
Download the full report here.
Check out the Veterinary Industry Tracker for daily stats.
| +0.8% Revenue YoY (Last Week) |
-3.5% Visits YoY (Last Week) |
Year-over-year veterinary industry revenue was 0.8% last week, a decline from the prior week’s 2.0%. Visits also fell, dropping to -3.5% from -1.4% the previous week.
 -6.6%Heartworm YoY |
-3.8% Flea/Tick YoY |
 +1.8%Services YoY |
-1.8% Products YoY |
Year-over-year parasiticide purchases remained in negative territory last week. Heartworm protection was -6.6%, while flea/tick protection was -3.8%, changes from -6.3% and -4.6% respectively the previous week. Year-over-year service revenue was 1.8%, a decline from 3.0% the week prior, and year-over-year product revenue dropped from -0.8% the previous week to -1.8% last week.
| +3.3% Revenue YoY (Last 12 Months) |
-2.5% Visits YoY (Last 12 Months) |
The rolling 14-day trendline showed revenue and visits continuing to decline since late September.
| 5,513 Practices |
2.2M Revenue per Practice (Last 12 Months) |
10.4K Visits per Practice (Last 12 Months) |
Last week, Colorado saw the highest year-over-year revenue growth at 7.2%, with Connecticut coming in second place at 6.0%. Minnesota was once again the only state to see positive growth in year-over-year visits at 0.3%, with Washington and Illinois seeing the smallest declines in visits at -0.6% each.
*Numbers are subject to change based on data availability and PIMS adjustments.
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