Veterinary Industry Summary: September 29–October 5, 2024

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Stats from the Veterinary Industry Tracker powered by Vetsource and AVMA

September 29–October 5, 2024

LAST WEEK

A new global study of more than 20,000 dog/cat owners — the world’s largest pet parent study to date — has revealed the changing demographics and needs of pet parents in 20 countries.

Commissioned with Ispos by Mars, Inc., the study includes insights from pet owners in Canada, the U.S., Mexico, Brazil, South Africa, the U.K., Germany, France, Italy, Spain, Turkey, Poland, India, Thailand, Indonesia, the Philippines, China, Japan, Australia, and New Zealand.

Takeaways from the study include:

  • 47% of respondents who own a pet are first-time pet parents.
  • 37% of dog and cat owners consider their pets to be the most important thing in their lives. This percentage increases among Gen Zers (45%) and millennials (40%).
  • 84% of dogs and cats are acquired before they are 12 months of age.
  • The most popular dog breeds include Labrador, Chihuahua, and golden retriever. The most popular cat breeds include Persian, British shorthair, and Siamese.
  • Cats are more commonly owned than dogs, with more men than women owning cats (52% male vs. 48% female).
  • 32% of respondents feel guilty about leaving their dogs and cats alone.
  • 42% of respondents describe their neighborhood as very pet-friendly.

Learn more about the study and Mars’ first-ever Global Adoption Weekend event here.

Check out the Veterinary Industry Tracker for daily stats.

Revenue per Practice

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

 

 

+2.0%
Revenue YoY (Last Week)
-1.4%
Visits YoY (Last Week)

 

Although revenue and visits began to rebound, the veterinary industry continued to feel the wrath of Hurricane Helene last week. Year-over-year revenue was 2.0%, an improvement from the previous week’s -1.2%, and visits jumped from -6.3% to -1.4%.


LAST WEEK
Months of Parasiticide Protection Dispensed

 

-6.3%
Heartworm YoY
-4.6%
Flea/Tick YoY

 

Service vs Product Revenue Breakdown

 

+3.0%
Services YoY
-0.8%
Products YoY

 

Last week, year-over-year heartworm protection was -6.3%, and flea/tick was -4.6%, improvements from the week prior’s -12.5% and -12.2% respectively. Year-over-year service revenue climbed from 0.4% to 3.0%, and, while product revenue was flat at -0.8%, it also gained ground compared to the previous week’s -5.9%.


LAST 12 MONTHS
Growth in Revenue and Visits

A line graph showing revenue and visits per practice, for a 14 day rolling period.

 

 

+3.2%
Revenue YoY (Last 12 Months)
-2.5%
Visits YoY (Last 12 Months)

 

The rolling 14-day trendline showed significant dips in revenue and visits over the past two weeks.


LAST 12 MONTHS
Revenue Growth by State

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

 

Patient Demographics

 

5,469
Practices
2.1M
Revenue per Practice
(Last 12 Months)
10.4K
Visits per Practice
(Last 12 Months)

 

Colorado and Connecticut continued to experience the highest year-over-year revenue growth last week at 6.9% and 6.0% respectively. Minnesota was the only state to see positive growth in year-over-year visits at 0.1%.

*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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