16 Apr 2020
Data from CM Research show revenue and footfall are down more than 50% – and dropping.
David Woodmansey
Job Title
Fresh research into the effect of COVID-19 on the veterinary profession has suggested a 50% to 60% global downturn in practice revenues.
At the time of VT50.17 to press (9 April), revenue in the UK was reckoned to be down by 56% and footfall down by 64% – and dropping.
The data have come from market research agency CM Research, which specialises in the veterinary and pet owner sector.
CM Research operates Vetspanel, the world’s largest independent veterinary panel, with more 28,000 veterinary professionals available to submit data from around the world.
Every few weeks for the duration of the COVID-19 crisis, it will be conducting online surveys to track how the pandemic is affecting virtually all aspects of the profession – from staff numbers to medicine supply.
The first two waves of surveys – conducted in March and April – involved almost 2,000 practice owners or practice partners from the UK, France, Germany, Italy, Spain, the US and Australia. The sample represented small animal vets from both large and small independent and corporate practices.
The results have indicated that in the UK, availability of drugs and medical supplies are down 11%, and deliveries of stock (pharmaceutical products/pet food) down 10%. Cancelled appointments are up 75%.
Additionally, the UK is leading the way in adopting telemedicine for consults, while most practices in all countries sampled have been cancelling unessential visits and asking clients to wait outside.
In all countries apart from Italy and Australia, the percentage of vets who have been asked about transmission between humans and pets has declined, although this remains the most popular question asked of vets by their clients in most countries.
The authors of the report said: “The UK, France and Spain have caught up with Italy on decreases in the number of clients visiting the practice. Italy reports the highest negative impact on revenue, with the UK, France and Spain not far behind. Germany reports a lower impact compared to other EU countries.
“Over the coming weeks and months, we are going to see the veterinary industry impacted more and more by COVID-19. We are, therefore, running this tracker to understand how things are changing for veterinarians and to advise on how we can all adapt to these new challenges.”
