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Veterinarians 2020The Pandemic Challenges Pet CareWith the pandemic outbreak, most jurisdictions considered veterinary practices essential; however, like physicians and other medical professionals, veterinarians had to visit with many patients remotely, and many started providing curbside service.VetWatch, which provides extensive data from thousands of US veterinary practices, reported only 5 major metropolitan zones of the 236 zones in its database recorded a YTD revenue increase as of 5/16/20.VetWatch’s Veterinary Consumption Index (VCI) is a measure of exam room and surgical suite consumables, relating to patient volume. The VCI was +9.6% for the week of 3/23/20, +1.1% for the week of 5/16/20 and +4.5% for the week of 8/17/20.Veterinary and Other Pet Services SAARs*, 2020PeriodSAAR*YOY % ChangeQ1 2020$46.80 B-2.3%Q2 2020$34.06 B-29.0%1H 2020$40.43 B-15.6%Q3 2020$44.00 B-9.6%US Bureau of Economic Analysis, November 2020*seasonally-adjusted annual rate, not monthly salesThe Vet CensusAccording to the latest data (as of 12/31/19) from the American Veterinary Medical Association (AVMA), 116,091 veterinarians were practicing in private clinics and employed in the public and corporate sectors.More women than men continued to be veterinarians, or 59.9% and 40.1%, respectively. In companion-animal-exclusive practices, 64.0% were women and 35.9% were men and for practices serving unspecified species, women 78,1% and men 21.8%.Of the 116,091 veterinarians, 16,897 were employed in the public and corporate sectors and most of them (40.8%) at a college or university. Another 21.0% worked in the industry sub-sector and 17.7% worked for federal, state or local governments.Male and Female Veterinarians in Private Practice, by Type, January 2020Practice TypeMenWomenPractice TypeMenWomenFood animal exclusive77.1%22.9%Equine45.8%54.2%Food animal predominant74.3%25.7%Other35.3%64.7%Mixed animal56.0%44.0%Species unspecified21.8%78.1%Companion animal predominant49.0%51.0%Total40.1%59.9%Companion animal exclusive35.9%64.0%American Veterinary Medical Association, November 2020Pet Owners’ PerspectivesUnsurprisingly, pet owners were focused on caring for their pets during the early-May period of the pandemic, as 84% said they were in sync with their pet’s health, according to a May survey from Banfield Pet Hospital.The pandemic also convinced 41% to contact their veterinarian, 42% were exercising their pets more than during the pre-pandemic period and 67% were adjusting their pet’s care.Having a pet in the household was also good for individuals and families, as 39% said they experienced less stress and uncertainty and 45% indicated their households were happier because they had increased their interaction with their pets. Medications and Other Health-Related Pet Products Purchased Online, August 2020*ProductPercentProductPercentAntibiotic medications21%Flea/Tick topical, chewable or collar18%Prescription food33%Heartworm topical or chewable15%Anxiety medication20%Ear infection pills or drops10%Heart medication30%Thyroid medication16%Allergy medication20%Pain medication19%VetWatch, November 2020*8/17–8/19/20 survey of 1,003 pet ownersVet Spending InsightsAccording to the Pet Business Professor, total 2019 veterinary spending increased 2.7% from 2018, to a total of $21.08 billion. Pet owners spent an average of $164.88; however, 67% of pet owners spent an average of $246.09.In its 2019–2020 National Pet Owners Survey, American Pet Products Association (APPA) reported similar average spending: routine vet visit, $212 (dog) and $160 (cat), with surgical vet visits more costly, or $426 (dog) and $214 (cat).Pet owners 35–44 spent the most for 2019 veterinary services, or $5.06 billion, followed by adults 55–64 $4.55 billion, adults 45–54 $4.16 billion, adults 65–74 $3.22 billion, adults 25–34 $2.63 billion, adults 75+ $1.50 billion and adults younger than 25 $680 million.Demographic and Other Metrics with the Largest Increases and Decreases for Vet Spending, 2019Increased the MostSpending ChangeDecreased the MostSpending ChangeSingle individuals$1.54 BTwo-person household-$1.34 BSuburban areas with >2,500 population$1.34 BAdults 45–54-$1.25 BAdults 35–44$1.23 BTwo-plus-earner households-$1.05 BTwo-earner households$1.22 BSuburban areas with <2,500 population-$880 M Advanced college degree$1.14 BBaby Boomers-$720 MPet Business Professor, November 2020The Animal Hospital SectorAnecdotal responses from various US states suggest the fall 2020 pandemic surge hasn’t changed the specific protocols animal hospitals must follow; however, in a number of states, animal hospitals, like veterinary practices, have had to initiate curbside services. With the pandemic dramatically increasing the number of new owners (millions), proactive animal hospitals have an opportunity to accommodate more of the pets of those new owners through a practice remodel, improving operational systems and new equipment.According to an architectural firm with primarily animal hospital and shelter clients, existing and planned facilities should adopt new, temporary practices, such as indoor/outdoor exam rooms, as permanent to be prepared for the next virus and to reduce pet/owner 5 and Bottom 5 VetWatch Zones* by Animal Hospital Revenues for November 2019Top 5 ZonesPercentBottom 5 ZonesPercentCorpus Christi, TX+15.9%Cleveland, OH-23.6%Madison, WI+13.9%Charleston, SC-9.1%San Antonio, TX+13.5%Pittsburgh, PA-8.8%Des Moines, IA+12.6%Philadelphia, PA-7.3%Ft. Worth, TX+12.3%Toledo, OH-6.8%VetWatch, November 2020 *includes primary metropolitan area listed and surrounding regionForging a Bright FutureThe 19% increase in student applicants for DVM (Doctor of Veterinary Medicine) programs for the 2020–2021 admissions cycle and the 94.6% of recent graduates receiving employment offers are certainly good news for the profession.As with many college graduates, 10.7% of new veterinarians responding to a late-2020 AVMA study said they had more than $300,000 in student debt and female graduates’ debt was an average of $6,900 more than men.The veterinarian profession has been subject to the same consolidation of other medical professions through acquisition by practice corporations. As of September 2020, there were approximately 30,000 veterinary practices and corporations owned 10% of them.3-Week Rolling Average Veterinary Practice Revenue Increase, by US Regions, November 2020*RegionYOY ChangeRegionYOY ChangeNew England+9.4%South Atlantic+5.6%East South Central+8.5%West North Central+4.0%Pacific+7.5%East North Central+2.7%Middle Atlantic+6.2%Mountain+1.1%West South Central+6.0%National+5.6%VetWatch, November 2020 *for the week ending 11/14/20More Valuable InsightsWith the increasing number of studies indicating the efficacy of CBD products for humans, more pet owners are also purchasing products specifically formulated for their pets. It’s an issue more veterinarians must understand as 73.9% of respondents to a January 2020 survey from Brightfield Group, provider of consumer insights for the CBD and cannabis industry, said they had spoken with their veterinarians about giving their pets CBD products.A data comparison of the fall 2020 consumer surveys in Austin, TX and Syracuse, NY from The Media Audit/Consumer Research Around Cannabis reveals the largest age groups of dog and pet owners are also the largest age groups to have purchased an OTC hemp product for their pets during the past year.Adults 18+ in Austin, TX Who Own a Dog and/or Cat and Those Who Purchased an OTC Hemp CBD Product for Their Pets During the Last Year, by Age Group, 2020Age GroupOwn a DogOwn a CatPurchased OTC Hemp CBD Product*PercentIndexPercentIndexPercentIndex18–206.8%1126.9%1145.3%7921–246.2%7712.3%15319.0%21225–3422.7%10619.0%8923.2%10735–4421.4%11017.5%9025.5%12645–4910.4%1148.8%9611.5%12250–549.3%1089.5%1114.5%4855–6415.3%10417.2%1179.9%6465–746.2%793.6%461.1%1975+1.7%325.2%98??Based on The Media Audit’s Fall 2020 survey *own dog or cat ?insufficient dataAdults 18+ in Syracuse, NY Who Own a Dog and/or Cat and Those Who Purchased an OTC Hemp CBD Product for Their Pets During the Last Year, by Age Group, 2020Age GroupOwn a DogOwn a CatPurchased OTC Hemp CBD Product*PercentIndexPercentIndexPercentIndex18–209.5%1267.7%1025.7%6521–245.8%6810.0%1197.1%8725–3417.1%11015.8%10126.0%15235–4421.3%15015.4%10829.4%16545–4911.4%1319.2%10611.9%11650–5410.0%10612.3%1312.3%2255–6416.7%9814.7%8714.2%9065–747.2%689.5%903.3%4075+1.1%115.2%58??Based on The Media Audit’s Fall 2020 survey *own dog or cat ?insufficient dataSources: Today’s Veterinary Practice Website, 11/20; Veterinary Practice News Website, 11/20; VetWatch Website, 11/20; US Bureau of Economic Analysis Website, 11/20; American Veterinary Medical Association Website, 11/20; Pet Business Professor Website, 11/20; American Pet Products Association Website, 11/20; American Animal Hospital Association Website, 11/20; The Media Audit Website, 11/20.Updated: November 2020? 2020 Media Group Online, Inc. 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