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5 Out-There Predictions for the Veterinary Industry in 2023

5 Out-There Predictions for the Veterinary Industry in 2023

It's that time of year again. Experts in every industry are sharing their predictions for what's to come in the year ahead. The veterinary industry is no exception.

We could join the trending conversations and say a few things about macroeconomics and a likely recession, continued difficulties in hiring veterinary staff, and a slower—but still steady—consolidation of veterinary practices around the country. But what's the fun in that?

Why not speculate (somewhat) wildly instead? Here are five predictions to chew on from the Instinct team. And no, we don't have any cheat codes or insider information. These predictions are inspired by years of experience watching significant shifts happen in the veterinary industry.

1. Amazon will look to buy Chewy.

Bezos and his team have habitually acquired big e-commerce competitors in various categories, from books to baby products and shoes, so it makes sense that they'll eventually come for the pet space. Now that Amazon has officially launched its new pharmacy service and Chewy has separated from PetSmart, it could use Chewy's head-start in veterinary prescriptions and telehealth.

2. We'll see a resurgence of new independent hospitals.

We'll see a steady rise in the number of de novo veterinary practices—businesses being planned and built from scratch—countering the consolidation trend of the last decade. This will be especially apparent in the specialty and emergency sector, with its significantly higher levels of consolidation (estimated to be around 75% of existing hospitals).

3. The mid-level veterinary practitioner role will advance.

Despite opposition from the AVMA House of Delegates, at least one state will approve legislation related to licensing of a mid-level veterinary practitioner. This role would match the nurse practitioner and physician's assistant in human healthcare, ideally augmenting the veterinary team and resulting in better access to care.

4. The urgent care practice model will grow.

As veterinary emergency hospitals continue to face overwhelming demand for their services, new urgent care centers will open to fill this unique gap between the general practice and the full-service emergency/specialty hospital.

5. Veterinary services will see a further boom in demand.

Demographic shifts and generational trends favoring pets will continue to put pressure on our industry, requiring unique solutions that enable veterinary teams to provide high levels of care more efficiently. And of course, that's where Instinct comes in!

Want to learn more about the magic software solutions we're brewing at Instinct? Sign up for a demo to see for yourself.

Or maybe you want to argue about why we're wrong on one (or all) of these predictions. Head over to our LinkedIn or Facebook to share your thoughts!