An article published by DVM Magazine recently provided insights into the veterinary services market. A study from Bayer/Brakke/NCVEI shows a drop in veterinary caseloads. Additionally, the AVMA (American Veterinary Medical Association) notes a drop in the salaries of new graduates from vet schools coupled with escalating debt.
Despite these findings, John Payne, CEO of Banfield Pet Hospital, offered his own perspective on the long-term veterinary market and its outlook. He told DVM Magazine, “One could argue that 62 percent of U.S. households own a pet. We have a growing population. I don’t believe veterinarians are seeing enough pets right now. But I believe the supply is there, and it is just not being served.”
Some of the reasons for the decline in veterinary visits include vaccine protocol changes, pet parents using the Internet as a first resource, and widened product distribution. Payne shared that Banfield is seeking veterinarians in their 800 hospitals despite the nationwide decline in visits to veterinary offices.
With 78.2 million dogs and 86.4 million cats residing in the United States, according to the APPA (American Pet Products Association), Payne believes the supply is there, but it is just not being served. He spoke at the 2010 Pet Healthcare Industry Summit and voiced his concerns, calling for a change.
While Payne admits that people get scared when vet visits are down, he expressed backing up fears with data and facts. Veterinary medicine is relevant to pet owners, and one of the goals of Partnership for Preventive Pet Healthcare, is to encourage pet parents to seek preventive annual veterinary care.
Learn more about Banfield Pet Hospital by visiting www.banfield.com.