Veterinary Practice Revenue Statistics for 2026

US veterinary clinics saw fewer patients in 2025 and still billed more. Same store visits fell about 2% to 3%, while service prices rose more than 6%, so the average practice grew revenue on price alone. That pattern has now run for four straight years, and 2026 data shows it continuing.

Behind the averages sit sharp differences. A companion animal vet generates about $595,000 a year in gross revenue, a mixed animal vet closer to $416,000. Corporate groups own a growing share of clinics and pay up to 15 times EBITDA for specialty hospitals. In the UK, the competition regulator has ordered price lists and prescription fee caps after finding vet prices rose twice as fast as inflation.

I compiled the latest veterinary practice revenue statistics from 2025 and 2026: profession economic reports, diagnostics and animal health company results, clinic benchmark data, consumer price indexes, insurance industry reports and regulator findings. Where two sources disagree, the figure with the clearest method and the latest date wins.

You also get my own calculations, a section on what practices sell for, and forecasts for the vet market, workforce, insurance and technology through 2035.

Editor Picks: Vet Revenue Numbers I Calculated

• A companion animal vet producing $595,000 a year with 3.8 support staff generates about $124,000 in revenue per team member.
• At a 29.5% average gross margin, a $1.6 million companion animal practice keeps about $472,000 before owner pay and debt.
• An established vet earning $154,000 takes home about 26% of the $595,000 they produce.
• Price did all the growing in 2025: a 6.57% average service price rise against visits down about 3% leaves revenue up about 3.4%.
• US pet owners spent about $432 per pet owning household on vet care and products in 2025 ($41 billion across 95 million households).
• Diagnostics revenue at the largest vet lab company grew about 11 points faster than clinic visits in 2026.
• US vet service prices rose 55.5% between 2019 and 2026, roughly double general inflation over the period.
• UK prescription fee caps cut the first prescription charge by about 30% at practices charging £30 (to £21).
• CVS Group earns about £1.49 million per practice a year, close to the £1.5 million Pets at Home vet practice average.
• US pet insurance premiums equal about 14% of total US spending on vet care and products ($5.68 billion against $41 billion).
• Telemedicine revenue equals about 5.6% of US vet care spending ($2.3 billion against $41 billion).
• A vet earns about 2.7 times the median pay of a vet technician ($130,100 against $47,380).
• Practice owners fell from 26% to 21.3% of vets in two years, an 18% drop in the owner share.

How Much Revenue Does a Vet Practice Make?

• Companion animal exclusive practices generate a median $595,000 in gross revenue per full time vet (2025 data).
• Gross revenue per full time vet fell in 2025 against 2024 for companion animal practices.
• In 2023 data, the median was $616,667 per vet at companion animal exclusive practices, with the bottom quarter at $411,111 and the top quarter at $867,901.
• Companion animal predominant practices generated $608,553 per vet.
• Mixed animal practices generated $416,250 per vet.
• Companion animal exclusive practices average about $1.6 million in gross revenue a year.
• Fully brick and mortar practices average about $1.7 million a year.
• Practices in the West South Central region lead at about $1.9 million a year.
• Companion animal predominant practices earn a median $416 per square foot and $532 per hour of operation.
• Companion animal exclusive practices earn $400 per square foot and $502 per hour.
• Mixed animal practices earn $326 per square foot and $348 per hour.
• UK Pets at Home vet practices average £1.5 million in revenue, up 3.9%.
• The US emergency veterinary services market is worth $2.3 billion in 2026.

Where Clinic Revenue Comes From

Vet Practice Revenue Mix

Practice Type	Services	Inventory (Products and Drugs)	Ancillary
All practices	78.5%	16.6%	4.9%
Small animal and mixed	About 79%	17%	About 4%
Equine	84%	10%	About 6%

• Non wellness visits make up about 60% of visits and 70% to 75% of diagnostics revenue.
• About 1 in 10 US wellness visits includes blood work.
• Wellness visits make up about 24% of visits and sick visits about 45%.
• 58.2% of dog owners buy parasiticides outside their vet.
• Home delivery vet sales grow almost twice as fast as in clinic sales.
• Pet owners on wellness plans spend 2.7 to 3.4 times more than other clients.

Fewer Visits, Bigger Bills: The 2025 to 2026 Pattern

• US same store clinical visits fell 1.9% in 2025 and 1.7% in Q4 2025.
• Visits per practice fell 3.5% in 2022, 1.4% in 2023, 2.6% in 2024 and 3.1% in 2025.
• Wellness visits fell 3.8% in 2025.
• Product only visits fell 6.2% and surgery visits fell 6% in 2025.
• Sick visits rose 1% in 2025.
• About 25% of practices grew visits in 2025, down from 50% in 2024.
• US same store visits fell about 1% in Q1 2026 and 1.3% in Q2 2026.
• Visits are forecast to fall about 1.5% for full year 2026.
• Practice revenue grew between 2.2% and 5.4% in 2025 depending on the dataset, with industry analysts putting it near 2.5%.
• About two thirds of practices reported higher 2025 revenue despite fewer visits.
• 32% of practices reported improved profitability in 2025, the lowest share in several years.
• Clinic visits fell about 3% while clinic revenue rose about 3%, entirely from price.
• US diagnostics recurring revenue grew nearly 11% in Q1 2026 and nearly 10% in Q2 2026.
• Daily transactions per vet fell 2.58% and active patients fell 1.9% in the year to August 2024.

Vet Pricing and Inflation Statistics

• Average vet service prices rose 6.57% from 2024 to 2025.
• US veterinary services prices rose 7.1% in 2025, against 2.9% for general inflation.
• Vet service prices rose 7.40% in 2024.
• Vet service prices rose 5.5% in the year to April 2026 and 5.1% in the year to June 2026.
• Vet service prices jumped 1.1% in August 2026 alone.
• Vet service prices rose 55.5% between 2019 and 2026, about 6.5% a year.
• Vet care costs rose about 60% since 2014.
• The typical vet bill reached about $392 per claim in 2025, up nearly a third since 2020.
• Routine cat or dog care averages $4,272 a year.
• Diagnostic test prices rose about 4% in 2026, with a 3.5% US price assumption for the year.
• UK vet prices rose 63% between 2016 and 2023, against 32% general inflation.
• UK first year treatment costs rose 53% between 2016 and 2023.

Vet Practice Profit Margins and Costs

• Total expenses take about 70% of gross revenue at the average US practice.
• The average gross margin is about 29.5%.
• A well managed clinic runs a normalized EBITDA margin of 18% to 24%.
• Non owner staff wages take about 38% to 48% of revenue, and total labor 55% to 65% at multi doctor practices.
• 94.7% of practices raised staff wages in the past year, with 4% to 6% the most common raise (42.6% of practices).
• UK group CVS earned a 44.3% gross margin and a 19.9% adjusted EBITDA margin in fiscal 2026.
• Equine practices grew revenue by double digits while profitability fell nearly 2%.

Vet Salaries and Staffing Ratios

• The median US veterinarian earned $130,100 in May 2025.
• Established vets average about $154,000.
• Starting private practice salaries average $134,244.
• Starting salaries in 2024: companion animal $140,000, food animal $100,000, equine $95,000.
• Companion animal exclusive practice owners averaged $191,352.
• The median vet technician earned $47,380.
• The US has 91,100 veterinarian jobs, with 9% growth projected from 2025 to 2035.
• The US has about 131,400 vet technician jobs.
• Practices employ 3.5 support staff per vet on average: 0.5 technicians, 1.5 assistants and 1.4 non medical staff.
• Companion animal exclusive practices run 3.8 support staff per vet, mixed practices 3.2, equine 1.9 and food animal 0.7.
• Practice owners fell from 26% of vets in 2023 to 21.3% in 2025.
• Solo practices make up under 9% of practices, down from about 19% a decade ago.
• Relief vets rose from 6% to 9.1% of private practice vets in a year.
• Full time vets work an average of 48.3 hours a week.
• Nearly 40% of 2026 vet graduates owe $300,000 or more.

Who Owns US Vet Clinics

• The US had 34,000 veterinary establishments in 2022.
• Independents hold about 53.6% of 54,297 active US vet care locations, counting retail clinics.
• Corporate groups own about 25% to 50% of general clinics, up from about 10% a decade ago.
• Corporate groups own about 75% of specialty and emergency hospitals.
• Mars Veterinary Health runs about 3,000 clinics worldwide with nearly 70,000 associates.
• Mars runs about 2,081 US locations: Banfield 999, VCA 982 and BluePearl 100.
• NVA runs about 1,000 to 1,400 US locations and VetCor 700 to 917.
• Thrive Pet Healthcare runs about 305 to 400 hospitals.
• Petco runs 1,633 Vetco locations, including 250 to 300 full service hospitals.
• Chewy Vet Care grew from 18 to 47 clinics with the Modern Animal deal, adding more than $125 million in annual revenue.
• Tractor Supply bought VIP Petcare, which runs community clinics at about 2,700 retail locations and holds more than 60,000 clinics a year.
• Mission Pet Health formed with 750+ hospitals at a value of about $8.6 billion and about $580 million in EBITDA.

What Vet Practices Sell For

Vet Practice EBITDA Multiples (Adviser Estimates)

Practice Type	Typical EBITDA Multiple
Solo vet practice	3.5x to 5.0x
Two vet practice	6.0x to 7.5x
Three or more vets	8x to 12x
Specialty and emergency	12x to 15x
Typical across all sizes	About 8.5x

• Corporate buyers pay 8x to 14x EBITDA, against 4x to 6x from individual buyers.
• Sellers to corporate groups keep 10% to 30% equity.
• The median private equity pet deal multiple fell from 9.9x to 8.2x EBITDA in Q1 2026.
• Global pet M&A fell to 73 deals in Q1 2026, down 52%, with 6 in vet care.
• Australian vet practices trade at 5x to 12x EBITDA.

Pet Owner Spending on Vet Care

• US pet owners spent $41.0 billion on vet care and products in 2025, up 3%.
• Vet care makes up about 25.9% of the $158 billion US pet industry.
• Vet care spending is projected at $42.4 billion in 2026.
• The US pet industry is projected at $165 billion in 2026.
• 95 million US households own a pet.
• The US has about 203.9 million cats and dogs in 2026.
• Australians spent A$1.9 billion on vet services within A$21.3 billion of total pet spending.
• Australian owners spend A$2,520 a year per dog and A$1,656 per cat.

Price Sensitivity and Declined Care

• 81% of vets say clients grew more cost sensitive in 2025.
• 94% of vets say client finances block recommended care: 38% frequently and 56% occasionally.
• 52% of pet owners skipped or declined vet care, and 71% of them cited cost.
• 73% of owners who declined care were offered zero lower cost option.
• 81% of vets offer an alternative treatment plan always or frequently.
• 22% of vets offer payment plans always or frequently.
• 23% of pet owners have ever been offered a payment plan.

Price sensitive clients compare clinics online before booking. Our Google local SEO statistics show how much local search and reviews shape that choice, and this guide on fixing a bad Google review helps clinics protect ratings.

Pet Insurance and Practice Revenue

• US pet insurance premiums reached about $5.68 billion in 2025, up 19.7%.
• North American premiums reached $6.2 billion, up 19.4%.
• 6.98 million US pets are insured, up 9%.
• 4.27% of US pets are insured: 5.99% of dogs and 2.29% of cats.
• The average US accident and illness premium is $836 for dogs (up 11.5%) and $435 for cats (up 12.6%).
• North American premium growth ran 23.5% in 2022, 21.7% in 2023, 20.8% in 2024 and 19.4% in 2025.
• Insured dog owners spend about $211 more a year on vet care.
• Insured owners spend about 29% more on dogs and about 81% more on cats.
• Hospitals promoting insurance grew gross revenue 30.5% against 9.8% at comparison hospitals.
• UK pet insurers paid a record £1.23 billion in claims in 2024, with an average claim of £685.
• UK claim values rose 5% and prices 9.2% within four years of a corporate acquisition.

AI and Telehealth in Vet Clinics

• 83.7% of veterinary professionals use AI in 2026, up from 39.2% in 2024.
• 62.8% of AI users apply it to documentation such as scribes and SOAP notes.
• 44.3% of AI users report higher patient throughput.
• 48% of general practices use AI, and 25% say it captured additional revenue.
• AI scribe use among vets rose from 3.5% to 17.5% in 14 months.
• 29.2% of practices offered telehealth in 2024, down from 38% in 2023.
• Vet telemedicine revenue reached $2.3 billion in 2024, up from $936 million in 2020.
• 76.5% of practices use practice management software.

Animal Health Companies as a Vet Revenue Barometer

• IDEXX revenue reached $4.30 billion in 2025, up 10%.
• IDEXX companion animal revenue reached $3.95 billion, up 10.6%.
• IDEXX guides 2026 revenue of $4.63 billion to $4.72 billion, with 7% to 9% organic growth.
• Zoetis revenue reached $9.47 billion in 2025, with companion animal sales of $6.59 billion.
• Zoetis US companion animal sales fell 11% in Q1 2026 as owners cut vet spending.
• Zoetis cut 2026 revenue guidance to $9.68 billion to $9.96 billion.
• The US pet health industry grew about 5% in 2025.

Global Veterinary Services Market

• The global veterinary services market is worth $156.3 billion in 2025 and $169.7 billion in 2026, counting farm animal care.
• Narrower estimates put global vet services at $129 billion to $139 billion in 2025.
• North America holds about 37% to 43% of global vet services revenue.
• The US veterinary services market is worth about $40 billion to $45 billion in 2026.
• Global veterinary hospitals generate $71.4 billion in 2026.
• European vet services are worth about €34 billion to €37 billion.
• Canadian vet services generate C$7.9 billion in 2026 across 5,753 businesses.
• Indian vet services are worth $4.36 billion in 2025.
• Greencross, the largest Australian vet and pet group, generates more than A$2 billion in revenue.

UK Vet Market and the CMA Ruling

• The UK vet sector is worth more than £6.7 billion, and other estimates put it at £7.2 billion in 2026.
• Six large groups own more than 60% of UK practices, up from 10% in 2013.
• Large groups charge 18.3% more on average than independents.
• Prices rose 9% within four years of a corporate acquisition.
• The CMA capped prescription fees at £21 for the first medicine and £12.50 for each extra one.
• Many UK practices charged £30 or more per prescription before the cap.
• Owners save £200 or more a year by buying long term medication online.
• Over 70% of UK owners buy long term medication from their vet.
• Fewer than 40% of UK practices show prices online.
• Written estimates become mandatory for treatment of £500 or more.
• Prescription caps apply to large groups from March 2027 and to other practices from September 2027.
• CVS Group revenue reached £712.8 million in fiscal 2026, up 5.9%, with like for like growth of 2.1%.
• CVS runs more than 480 practices with 2,500 vets and 3,300 nurses.
• Pets at Home vet consumer revenue reached £688.1 million across 455 practices.

Vet Market Forecasts to 2035

• The global vet services market is forecast to reach $292.8 billion by 2033 at an 8.1% CAGR.
• Other forecasts put global vet services at $171 billion by 2031 or $245.8 billion by 2035.
• US vet services are forecast to reach $68.7 billion by 2033 or $77.5 billion by 2035.
• Global veterinary hospitals are forecast to reach $132.8 billion by 2035.
• Indian vet services are forecast to reach $8.98 billion by 2034.
• The US pet industry is forecast to reach $261 billion by 2030.
• US cats and dogs are forecast to reach 206.4 million in 2027.
• The US is projected to face a shortfall of 17,166 vets by 2032, while other analysis finds vet colleges meeting demand through 2035.
• US veterinarian jobs are projected to grow 9% between 2025 and 2035.
• UK practising vets are projected to rise from 29,500 to about 45,000 by 2035.
• Vet telemedicine is forecast to reach about $2.1 billion by 2034 or 2035, growing about 18% to 22% a year.
• AI in veterinary medicine is forecast to grow from $385.5 million in 2025 to $3.39 billion by 2035.
• Companion animal diagnostics are forecast to grow from $3.56 billion in 2026 to $5.40 billion by 2031.
• UK practices must publish price lists from 2027 under the CMA remedies.

What These Numbers Mean for Practice Owners

Price led growth has a ceiling. With visits falling four years running, 81% of vets seeing more cost sensitive clients and half of owners declining care, the practices growing in 2026 are the ones adding visits back: wellness plans that lock in annual care, tiered treatment options, payment plans, forward booking and insurance education. AI scribes free up doctor time for more appointments, and diagnostics keep lifting revenue per visit. In the UK, transparent price lists and prescription caps arrive in 2027, so independents that already publish fair prices gain an edge over higher priced groups.

Veterinary Practice Revenue FAQs

What Is the Average Revenue of a Vet Practice?

Companion animal practices average about $1.6 million a year in the US, and each full time vet generates a median $595,000.

How Much Revenue Does One Veterinarian Generate?

A companion animal vet generates a median $595,000 a year, with the top quarter above $850,000. Mixed animal vets generate about $416,000.

What Is a Good Profit Margin for a Vet Clinic?

A well managed clinic runs an EBITDA margin of 18% to 24%. Expenses take about 70% of revenue at the average practice.

Why Are Vet Visits Declining?

Higher prices and tighter household budgets. Vet prices rose 7.1% in 2025 while visits fell about 2% to 3%, and 52% of owners skipped or declined care, mostly over cost.

What Are Vet Practices Selling For in 2026?

Small practices sell for about 3.5x to 7.5x EBITDA, multi vet practices for 8x to 12x and specialty hospitals for 12x to 15x.

How Big Is the Veterinary Services Market?

Estimates put the global market at $129 billion to $156 billion in 2025, growing to $171 billion to $293 billion by the early 2030s.

Find more stats:

Flooring Marketing Statistics	Solar Panel Marketing Statistics	Electrician Marketing Statistics
Water Damage Restoration Marketing Statistics	Programmatic SEO Statistics	Local Pack CTR Stats
AI Video Adoption Statistics	AI Share of Voice Stats	ChatGPT Local Business Recommendation Stats
Popular Amazon Beauty Products Stats	Food Truck Marketing Stats	PT Marketing Statistics