US veterinary industry grows, but pressure points deepen

The U.S. veterinary industry is still growing, but the latest economic data suggest that growth is coming with sharper operational and workforce strain. AVMA’s 2025 Economic State of the Veterinary Profession report, which underpins recent coverage in Today’s Veterinary Business, shows a strong employment market and continued demand for care, while also highlighting rising student debt, uneven technology adoption, and persistent work-life balance pressures. Average DVM debt for graduates with debt reached $202,647 in 2024, and 38.5% of graduating veterinarians carried $200,000 or more in DVM debt. At the practice level, 19.3% of owners said they were falling behind on technology adoption, most often because of time or financial constraints, while relief and contract roles rose to 9.1% of veterinarians in 2024. (ebusiness.avma.org)

Why it matters: For veterinary professionals, the report reinforces that demand alone doesn’t solve access, staffing, or retention problems. Practices are staying open longer, averaging 10 hours on weekdays, but appointment capacity hasn’t expanded at the same pace, and many veterinarians considering change say mental health and work-life balance matter more than pay. Outside the AVMA report, industry commentary from AAHA and consultants points to rising hiring costs, uneven clinician distribution, and declining visit pressure in some markets, even as spending remains high overall. (ebusiness.avma.org)

What to watch: Watch whether practices respond with more investment in workflow technology, staffing models, and retention strategies, or whether debt, burnout, and softer visit trends keep limiting capacity. (ebusiness.avma.org)