Balance sheet of Spanish veterinary centres in 2023

The VMS Annual Summary of the Veterinary Sector in Spain offers an in-depth look at the evolution and dynamics that have shaped this vital professional field over the past year. In a year characterised by challenges and transformations in our sector, key figures and emerging trends shed light on the growth, challenges and opportunities that have defined the veterinary industry in the country. From the expansion of veterinary centres to key performance indicators, this round-up invites us to explore the current landscape of a discipline essential to the care and well-being of our pets and companion animals. In this article, we will take a closer look at the highlights of the annual report, highlighting crucial data that outline the future of the Spanish veterinary sector.

Spanish veterinary clinics are on track for another year of revenue growth. 2023 closes with a growth of +8.3%, which means surpassing the figure of 2022, which closed at +6.2%. The increase in the average ticket, the driving force behind the growth of the clinics.

Some interesting figures on our sector, based on VMS statistical analyses (sources: Annual Summary 2023)

      • We have a census of 7,126 veterinary centres in Spain.

        • The average annual turnover is €363,667 per centre, which means a sectoral economic dimension of €2,613 million.

          • The average number of active patients (with at least one economic transaction per year) per veterinary centre is 1,599.

            • The weight of the different sizes of veterinary centres is 10.4% for very large centres, 22% for large centres, 31.8% for medium-sized centres and 35.8% for small centres.

            In 2023, the Spanish veterinary sector experienced a notable increase in the number of centres, reaching 7,128 establishments compared to the 6,892 registered in 2022. This expansion was also reflected in the sector's total turnover, which amounted to €2,613 million in 2023, compared to €2,419 million the previous year. Analysis of the geographical distribution reveals that the provinces of Madrid, Barcelona, Valencia, Alicante, Malaga and Seville lead in terms of the number of veterinary centres, with outstanding figures of 868, 816, 450, 341, 327 and 288 respectively. This growth and diversified geographical distribution underline the importance and continued expansion of the veterinary sector in Spain.

            During the year 2023, the Spanish veterinary centres analysed grew by 8.3%. This represents another consecutive year of growth, the second best result in the last 8 years.

            Arithmetically, the revenue of veterinary centres depends on the evolution of 3 factors: number of active patients, frequency of transactions and average amount per transaction or also called evolution of the average ticket.

            In 2023, an increase is observed precisely in the evolution of the average ticket, being the main lever of growth in the income of veterinary centres.

            As we noted in our 2023 price studyThe increase in the value of the average ticket is largely due to the price increases applied by clinics (around 4% for the main services). This point, added to other aspects such as the improvement in the mix of services vs. products (clinics are increasingly selling more services in proportion to products), the improvement in the mix of services (more diagnostic tests, more surgeries) and the greater growth of large and very large centres, with average tickets higher than those of small centres, explains this increase in the value of the average ticket beyond the increase in prices of veterinary centres in general.

            The following table summarises the main economic indicators of veterinary establishments (according to size) and their year-on-year evolution between 2022 and 2023.

                2022 2023
            SMALL Total income (average clinics) 117.900 125.113
            Revenue development   6,1%
            Total transactions (clinical average) 3.077 3.121
            Transaction developments   1,4%
            Active patients (average clinics) 756 763
            Evolution of active patients   0,9%
            Average amount per transaction 38,30 € 40,10 €
            Evolution of the average amount per transaction   4,6%
            MEDIAN Total income (average clinics) 263.145 282.430
            Revenue development   7,3%
            Total transactions (clinical average) 6.571 6.749
            Transaction developments   2,7%
            Active patients (average clinics) 1.347 1.372
            Evolution of active patients   1,9%
            Average amount per transaction 40,00 € 41,80 €
            Evolution of the average amount per transaction   4,5%
            BIG Total income (average clinics) 454.431 487.886
            Revenue development   7,4%
            Total transactions (clinical average) 10.537 10.595
            Transaction developments   0,5%
            Active patients (average clinics) 2.117 2.164
            Evolution of active patients   2,2%
            Average amount per transaction 43,10 € 46,00 €
            Evolution of the average amount per transaction   6,8%
            VERY LARGE Total income (average clinics) 1.062.464 1.175.313
            Revenue development   10,6%
            Total transactions (clinical average) 16.725 16.941
            Transaction developments   1,3%
            Active patients (average clinics) 3.972 4.049
            Evolution of active patients   1,9%
            Average amount per transaction 63,50 € 69,40 €
            Evolution of the average amount per transaction   9,2%

            It is worth noting that once again this year it is the very large centres that lead the growth of the sector, although all sizes of centres show a favourable evolution in revenue growth.

            In conclusion, the Annual Summary of the Veterinary Sector in Spain reflects yet another year of a vibrant and constantly evolving panorama. With a remarkable growth in the number of centres and a rising turnover, the sector demonstrates its vitality and relevance. The trends and KPIs analysed provide a clear view of the challenges and opportunities that lie ahead, highlighting the continued importance of veterinary care in today's society.

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