Veterinary Industry Trends

Evolving Veterinary Industry Trends

Evolving Veterinary Industry Trends
Reading Time: 4 minutes

Across all sectors, there are areas for improvement and innovation. The veterinary industry is no exception to this desired growth when it comes to animal health, professional veterinary care, and happy pet parents.

What may have started as a demand to meet the challenges of a socially-distanced customer and client base has become the means to providing convenient as well as efficient services. So what’s changed, and what are in the cards moving forward?

2021 predictions vs. 2022 insights for the veterinary industry

The impact of COVID shifted the trajectory of the veterinary services market and propelled drastic changes within the industry. Practices, tools, and mentalities (some that may have already been well on their way to fruition) were nudged from trial to execution. And now that the alarm bells have dulled, quite a few things are here to stay.

Telemedicine & curbside appointments

“The global veterinary telehealth market was valued at USD 119.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 17.6% from 2022 to 2030.” Grand View Research

In 2021, safety measures guided the implementation of increasingly contact-less services. Many veterinary clinics opted for the use of telehealth for a variety of pet care needs, including:

  • Scheduling
  • Requesting refills
  • Referrals
  • Monitoring
  • Consulting
  • Evaluations

For all else that required physical attention, veterinary clinics introduced drop-off appointments and curbside assistance as valuable safety precautions. And now, though safety is still the main priority, accommodating pet health services have become a growing expectation. As can be imagined, the convenience of these resources relies heavily on the technology needed to perform these requests without fail.

Laser-focus on industry tech & software

Not all tech in the veterinary industry refers to AI. Still, some highly beneficial advancements continue to help streamline processes and improve the turnaround time for veterinarians’ diagnostics departments. Cloud-based software also makes accessibility and maintenance a cost-effective transition into the new age of industry trends. But there’s so much more that the right tech and software can help out with.

In April of 2021, a leader in veterinary client communications technology & telemedicine offered three innovative services that immensely helped reduce the burden of veterinary practices: Virtual CSR, Overflow Protection, and Callback Support. This means that along with the essential digital data analysis and availability, communication, organization, customer support, and payment software can go a long way in sustaining the success of animal hospitals and veterinary clinics moving forward.

Tech, no matter the industry, can only go as far as the people using it, so it will rely upon proper upkeep and training. Thankfully, the advantages of new and improved software are compounded by reducing some of the workloads of veterinary professionals.

Alarming pleas for work-life balance and mental health awareness

There’s no denying that a heavy toll weighs on the physical and psychological wellness of those fulfilling veterinary industry jobs. Across the US, veterinarians and other industry professionals participated in Dr. Ivan Zak’s 2nd burnout & work-life balance study survey of 2021 to further address the climbing burnout rates and well-being challenges.

Coinciding with his findings in 2020, the 2021 study determined that veterinary professionals under the age of 30 are more prone to the pressure of burnout. With younger generations encroaching on the workforce, the solution and prevention of burnout are imperative for the industry’s development. 

Veterinary industry professionals at mid and lower levels find themselves overworked, underutilized, and wanting better pay and opportunities. With this in mind, growth in just about any position within the veterinary industry, in general, makes sense because the market will have to make up for what it’s losing. It’s up to leaders and professionals choosing the veterinary industry career path to keep employee wellness and job satisfaction at the forefront to reduce turnover and combat impending talent shortages.

Competition and market size wowzers

The Journal of the American Veterinary Medical Association reports that the demand for veterinary services has increased since the pandemic. Regarding average monthly appointments, bookings rose from 4.5% in 2019 to 2020 and 6.5% from 2020 to 2021. On the one hand, the veterinary industry is getting busier on the clientele end, while on the other, a match in productivity and efficiency isn’t expected to be sustainable.

Though burnout has a significant part in the high turnover and forewarned shortage of vet professionals, the workforce is projected to grow by 3.71%. So surprisingly enough, if you’re wondering if there is a shortage of veterinarians, the answer is no. In fact, if you came to this article with the question, what is the job outlook for a veterinarian in the United States? -you’d be amazed to learn that there’s an above-average growth prediction of 17%!

This can be informative if you’re unsure how to boost your retention rates, but a gained advantage if you’re looking to draw in job seekers for unfilled roles within your veterinary clinics. Hiring managers ensuring appropriate compensation and fostering environments for employee strengths and capabilities will have the upper hand in sourcing talent.

Fortunately for the veterinary workforce, gpac has a team of recruiters specifically targeting their efforts toward growing people and companies in the industry.  Want to talk to a recruiter about making a career change in this industry or bring your veterinary background to the aid of this growing market? Visit gogpac.com

Contributed by Mary Dominguez

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