Veterinary Practices

The 26,300 veterinary practices in the US provide preventative, medical, and surgical care for a wide variety of animals. Most veterinary practices are small, independent operations – 86% have a single location, and 85% have fewer than 20 workers. Most practices are private practices and are owned by a licensed veterinarian. Some vets focus on large animals and livestock and work at the client's location.

High Capital Costs

Diagnostic equipment and full laboratory set-ups can require a significant investment.

Shortage of Food Animal Veterinarians

While the number of veterinary school graduates grows at a steady rate, a shrinking percentage of vets choose to specialize in the care of animals used as livestock.

Aug 17, 2026 - Growing Dog Ownership Supports Veterinary Demand

• US veterinary practices should benefit from continued growth in dog ownership and strong spending on veterinary care, according to the American Pet Products Association's (APPA) 2026 Dog Report. Dog ownership reached 71 million US households in 2025, up 4% from the prior year, while veterinary care accounted for 29% of dog-owner spending—the largest share of the pet budget. These trends support a favorable demand outlook for veterinary services. At the same time, the APPA report shows owners are becoming more value-conscious, shifting some routine care and grooming into the home and looking for lower-cost ways to manage pet expenses. For veterinary practices, this suggests essential, preventive, diagnostic, and higher-acuity care should remain comparatively resilient, while clients may scrutinize prices more closely or defer nonurgent services. Practices that emphasize preventive care, convenience, transparency, and value should be best positioned.
• Consumer attitudes weakened in summer 2026, creating a more cautious backdrop for US veterinary practices. The University of Michigan Consumer Sentiment Index fell to 51.0 in preliminary August 2026, down 7.6% from July and 12.4% from August 2025. Higher inflation expectations and concerns about purchasing power could make pet owners more price-sensitive and more likely to defer routine wellness visits, dental care, diagnostics, and elective procedures. The Conference Board Consumer Confidence Index declined to 90.8 in July 2026, from 92.2 in June; its Present Situation Index fell to 114.9, while the Expectations Index remained weak at 74.7. For veterinary practices, essential and emergency care should remain relatively resilient, but weaker confidence may increase payment-plan demand and pressure discretionary or preventive-service volumes.
• Newly released Trupanion claims data highlight the seasonal risks driving increased demand for US veterinary care each summer, according to a Veterinary Practice News report. Trupanion claims data from 2021–2025 show US summer claims rose 266% for heatstroke, 288% for foxtail injuries, 145% for snake bites, and 82% for insect bites compared with the rest of the year, while traffic-related injuries increased 13%. The findings suggest veterinary practices should prepare for higher emergency caseloads and promote preventive care through client education on heat safety, environmental hazards, parasite exposure, and safe travel. Regional differences, including high foxtail cases in California and elevated snake bite claims in North Carolina, underscore the need for localized outreach. With average treatment costs ranging from about $1,300 to nearly $2,000 per case, seasonal emergencies can boost practice revenue while reinforcing the value of preventive education and pet insurance.
• Chewy's continued expansion into veterinary care highlights the growing convergence of pet retail and veterinary services, according to a Digital Commerce 360 report. The company reported Q1 sales growth of 7.7% and identified pet health and veterinary care as its largest long-term growth opportunity. Chewy is accelerating its clinic strategy through the acquisition of Modern Animal and plans to operate about 60 veterinary clinics by year-end. Management noted that roughly 40% of Chewy Vet Care customers are new to the company and tend to spend significantly more than other customers, demonstrating the value of clinics as both healthcare providers and customer acquisition tools. For the veterinary services industry, Chewy's expansion signals increasing competition from large, technology-enabled operators that combine veterinary care, pharmacy, ecommerce, and subscription services. The trend could accelerate industry consolidation and raise competitive pressure on independent practices, particularly in urban markets where corporate-backed veterinary networks are expanding.

Industry size & Structure

A typical veterinary practice operates out of a single location, employs about 18 workers, and generates about $2 million in annual revenue.

• The veterinary care industry consists of 26,300 practices that employ 467,000 workers and generate $59 billion annually.
• Most veterinary practices are small, independent operations - 86% have a single location, and 85% have fewer than 20 workers. Most practices are private practices and owned by a licensed veterinarian.
• About 70% of vets provide care primarily for companion animals; 5% operate a mixed practice; 4% care for food animals; and 4% care for horses.
• Large companies include Mars Veterinary Health (VCA, Banfield Pet Hospitals, BluePearl), Gulf Coast Veterinary Specialists, and Antech.