One year later: Five ways our profession has changed since the onset of the COVID pandemic

The past year and a half has transformed nearly every aspect of our world. Living through this has driven dramatic shifts in the economy and our careers. Here are five ways that the veterinary profession has been altered most by the pandemic.

Pet parents are spending more on veterinary care than ever before!

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

Shortages and burn out of veterinary professionals

Studies by economist and former University of Florida veterinary college dean Dr. Jim Lloyd point to a growing shortage of veterinarians in the range of 3,000 to 5,000. U.S. Bureau of Labor Statistics reports confirm the numbers and predict the problem will get worse as we move forward

According to a recent article by CNN, approximately half of all vet techs burn out of the profession within their first five years and 35% of them burn out altogether.  

Millennial pet parents are our biggest opportunity. 

Millennials—who have reached ages between 25 and 39 years old in the last decade—have received special attention because of their high rate of pet ownership and they constitute  27% of all pet owners according to Packaged Facts.

 In a recent survey of nearly 3,000 US adults, 45% of Millennials said technology has made them more impatient than they were five years ago. Millennials are impatient, they want what they want when they want it.  They also have higher expectations for customer experiences. 

 Increased wait time

A recent AVMA survey found that the average number of patients a veterinarian saw per hour was 25% lower in 2020 than in prior years, which means clients are waiting longer before their animals can be seen.

 Rise of Veterinary Telemedicine

The global veterinary telehealth market size was valued at USD 92.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 19.5% from 2021 to 2028. The increasing demand for animal healthcare is propelling the growth of the market for veterinary telehealth.