The Evolution of the Veterinary Clinic Sector: Sector Barometer December 2023

In this entry we will analyse the most recent results of the study. Sector Barometer December 2023. We will examine the growth of the veterinary clinic sector and how different variables have contributed to this outcome. In addition, we will highlight the influence of price increases on the value of the average ticket and on the performance of the sector.

According to the study "Sector Barometer December 2023", during the month of December the veterinary clinics sector has
experienced a +3.4% growth in revenues, which builds us a total year 2023 with a sector growth of +8.3%.

The main contributing factor to this development has been the increase in the value of the average ticket, caused on the one hand by the good performance of the main veterinary services (more and more diagnostic tests as well as other services with high added value are observed) but also significantly impacted by the general price increase in the veterinary sector. According to the IPC VMScalculated on the basis of the evolution of the prices of the 34 services most commonly performed in veterinary centres, the clinics reflect an increase in the prices of the 34 services most commonly performed in veterinary centres. of +4.0% this past month (with a cumulative annual rate of +4.0%), thus that there is evidence of an increase in the prices of veterinary services which has directly influenced the average value of tickets. It is important to note that the price increase in sector has occurred not only in specific services, but also in the products related to health and pet care. This indicates that pet guardians are willing to pay more for care quality veterinary products and products that guarantee the welfare of your animals.

Conclusions

The increase in the value of the average ticket, partly driven by price increases in the sector, has allowed veterinary clinics to maintain solid revenue growth in December (+3.4%) despite the moderate decrease in the number of active patients (-0.6%) and the fall in the number of transactions (-3.7%). In cumulative annual terms, the evolution of active patients was +1.8% and of the number of transactions +1.7%, with the growth in the average ticket value (+6.5%) once again having an impact on the good annual evolution of the clinics' revenues (+8.3%).

Access the complete information on the December Sector Barometerand discover the essential report with which the sector's managers monitor the economic evolution of Spanish veterinary clinics.

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