If your vet bills have felt heavier lately, you are not imagining it. And you are far from alone.
A new survey by Morgan Stanley analysts asked 75 U.S. veterinarians about the current state of pet care. What they found is worth paying attention to, especially if you have a dog or cat depending on you.
Patient visits to vet practices fell 1.9% in the second quarter of the year compared to the same time a year earlier. That followed a 1.8% drop in the first quarter. Fewer animals are coming through the door.
At the same time, overall sales at vet practices ticked up 0.3%. But that small gain came almost entirely from higher prices, not more visits. The Morgan Stanley analysts called that trend not a sustainable algorithm.
The survey also pointed to other pressures on the industry: corporate consolidation and new signs that the overall pet population in the U.S. may be shrinking. Vets reported that pet owners are waiting longer before seeking treatment.
One veterinarian quoted in the survey put it plainly: Owning a pet has become a luxury.
That is a hard sentence to sit with when you think about the animals who share our homes and our days. The bond is real. The costs, unfortunately, are real too.
If you have been putting off a vet visit because of the expense, you are making a choice that many pet owners across the country are making right now. Knowing that does not make it easier, but it is the honest picture of where things stand.
