The VetMedux team fielded an industry survey in June 2024 to collect market insights to support our industry partners like you with data-driven decision making. The goals of this survey were to:
- Understand current clinic priorities and challenges
- Understand how veterinarians’ buying habits are shifting
- Learn how online pharmacies are impacting practices
- Find out what types of education and resources veterinarians need most today
The survey was completed by 486 veterinary professionals.
Breakdown by Practice Type
- 31% in corporate practice
- 62% in private practice
- 7% in relief work
Breakdown by Job Role
- 51% Associate veterinarians (full-time)
- 15% Practice owner / veterinarian
- 9% Associate veterinarians (part-time)
- 8% Practice owner
- 7% Practice manager
In this blog, we’ll review the most crucial findings from this new industry research. Don’t have time to dive into the data? Here are the high-level insights.
Fragmentation has increased.
Veterinary medicine is becoming increasingly fragmented, creating inconsistencies in customer journeys. As a result, B2B veterinary marketers are paying more attention to the nuances in customer buying journeys and creating targeted nurturing programs based on prospect behaviors.
Profitability is the #1 priority.
Despite fragmentation, corporate and private practices report that improving practice profitability is the #1 priority today. Many B2B veterinary marketers are pivoting from traditional messaging to help veterinarians see how their products can support top-line revenue to achieve profitability goals.
Challenges are more challenging.
An already challenging environment has become even more difficult over the past 12 months for veterinarians. Veterinary professionals report more challenges finding staff, overcoming pet owner financial constraints, and combating economic uncertainty.
Buying processes are more complex.
Decision-making now involves more people, key influencers are pressed for time, and buyers are conducting research long before manufacturers even know who they are. To better influence the buying process, B2B veterinary marketers are focusing on providing educational content in multiple formats—such as video, infographics, long-format articles, and CE—across multiple platforms to catch veterinary professionals wherever they may be browsing.
The Survey Data
Top Client Communication Tools
Respondents were asked which client communication tools their practice uses.
The #1 client communication tool used is… none. That’s right.
In our survey, 24% of clinics reported that they have no client communication tool. Of those actually using a client communication tool, 16% reported using Plumb’s handouts and 15% reported using PetDesk.
Bottom line: Client communication tools have relatively low market saturation, which means there’s a lot of opportunity here if that’s your niche.
Top Point of Care Reference Tools
The top 3 point of care reference tools are consistent across private and corporate practices:
#1. VIN, used by 77% of respondents
#2. Plumb’s, used by 76% of respondents
#3. Merck Veterinary Manual, used by 16% of respondents
The majority (57%) of respondents reported that they have not integrated AI or machine learning into their practices. The top current use of AI (implemented by 16% of respondents) is diagnostic assistance such as interpreting diagnostic images and providing preliminary diagnoses.
Top Practice Priorities
Historically, the priorities of corporate and private practices have differed; however, in 2024, the top 3 priorities of the two groups are now aligned:
Corporate Practices
- Hiring/growing staff
- Improving practice profitability
- Improving workflows
Private Practices
- Improving practice profitability
- Hiring/growing staff
- Improving workflows
B2B veterinary marketers are adapting messaging to align with these top focuses to drive urgency and action.
Education on new products emerges as a top need. Veterinarians report they need CE-accredited programs (#1), clinical education (#2), and education on new products (#3).
Top Challenges
We asked veterinarians what challenges they are having MORE trouble with over the past 12 months. There was some nuance in the response between private and corporate practices:
Corporate Practices
- Finding staff
- Staff burnout
- Pet owner financial constraints
Private Practices
- Finding staff
- Pet owner financial constraints
- High appointment demand
Many practices are searching for creative ways to make care more accessible to cash-restricted clients in a time of economic uncertainty.
Nearly 60% of veterinarians report that online pharmacies have negatively impacted their clinics over the past 12 months.
Product Awareness
As veterinarians become busier, we wanted to find out if the way they are learning about new products has changed. Respondents shared the top 3 ways they are learning about new products today:
- In-person meeting with sales representatives
- Media websites and/or virtual webinars through media outlets
- Print journals (eg, Clinician’s Brief, dvm360, JAVMA)
Media remains a critical product education and brand awareness driver for veterinary professionals. Contact us to find out how to maximize your visibility.
Buying Behavior Changes
Respondents report that product categories with long research time (equipment and software) are also being purchased less. On the other hand, product categories like dermatology, diagnostics, and joint health and pain management are seeing an uptick in purchase volume.
Clinics that are refraining from making purchases today cite the following 3 reasons for their delayed purchases:
- We do not currently see a need for these products
- Economic uncertainty
- The practice is focused on profitability
To overcome these delay tactics, B2B veterinary marketers are focusing messaging to make purchases feel more urgent and less like “nice to haves”. They’re also adapting their approach to show veterinarians how their products and services can add a revenue stream that can help achieve profitability goals.
The survey also showed that 56% of veterinarians prefer to meet with sales reps for scheduled in-office visits, compared to only 18% who prefer virtual meetings.
Product Research
Veterinarians report spending the most time researching software before making a purchase decision, increasing the length of purchase cycles. Nearly 30% of respondents said they spend over 3 months researching software before making a decision.
Equipment and diagnostics are also product categories with long research times:
- 25% of veterinarians spend 1-2 months
- 14% spend 2-3 months
- 25% spend over 3 months researching equipment
- Only 16% of respondents spend over 3 months researching diagnostics
Influencers and Decision Makers
As the industry evolves, so does the role of practice members in influencing purchases. Below is a breakdown of influencers and sole decision-makers in key purchasing decisions for veterinary practices.
Influencers in product selection/purchasing by practice type
Sole decision makers in product selection/purchasing by practice type
Influencers in capital equipment selection/purchasing by practice type
Sole decision makers in capital equipment selection/purchasing by practice type
The pace of change in veterinary medicine continues to be a challenge for veterinary professionals and industry alike.
Veterinarians aren’t just looking for your product, they’re looking for solutions to a problem. To compete in today’s attention economy, keep in mind that:
- Veterinarians are looking for solutions long before you know they’re shopping. Make sure you are helpful on the channels where they spend time—before you know they need you.
- Veterinary professionals are finding out what solves their problem from educational sources—not just sales meetings. If you’re skipping clinical education and media partnerships, you’re missing a crucial connection point.
- Before you convert, you have to connect. Make sure you’re educating, not just selling.
Contact us today to discuss the survey results or to explore the data points relevant to your brand in more depth.
VetMedux is your direct line to veterinarians.
With Clinician’s Brief and Plumb’s, VetMedux has the most essential and trusted brands in veterinary medicine. Veterinarians come to us because we help them solve problems, and we can help you connect them to your solutions. Contact us today to get started.