{"id":10099,"date":"2021-03-26T14:36:03","date_gmt":"2021-03-26T21:36:03","guid":{"rendered":"https:\/\/todaysveterinarybusiness.com\/?p=10099"},"modified":"2022-06-15T17:47:49","modified_gmt":"2022-06-15T17:47:49","slug":"veterinary-market-2020-appa","status":"publish","type":"post","link":"https:\/\/navc.sitepreview.app\/todaysveterinarybusiness.com\/veterinary-market-2020-appa\/","title":{"rendered":"U.S. Veterinary Market Totaled $31.4 Billion in 2020"},"content":{"rendered":"

The veterinary profession in 2020 captured a 30% slice of the record-setting $103.6 billion U.S. pet industry, according to a new report.<\/p>\n

The American Pet Products Association is forecasting even higher numbers in 2021, with expenditures in the overall pet market reaching an estimated $109.6 billion.<\/p>\n

\u201cWe are bullish for the coming year, projecting growth of 5.8%, well above the historical average of 3% to 4%,\u201d said Steve King, president and CEO of the APPA. \u201cThis past year presented a host of challenges that resulted in consumers across the country turning to their pets<\/a> for comfort and companionship.<\/p>\n

\u201cInterestingly, the product trends we are seeing in the pet care community mirror those of consumers: a desire for a healthier lifestyle, increased focus on fitness, turning to supplements for improved well-being, and technology playing a larger role in everyday life.\u201d<\/p>\n

Revenue tied to veterinary care and veterinary products totaled $31.4 billion in 2020, a jump of 7.2% from the previous year, the AAPA stated. The category includes routine veterinary care, surgical procedures and pharmaceuticals sold by clinics. Excluded is pet food, pet treats and over-the-counter medications<\/a>.<\/p>\n

Veterinary revenue is projected to rise by 2.7% in 2021, to $32.3 billion. The APPA did not explain why the growth would be slower in 2021 compared with these categories:<\/p>\n