Pet Health Care in the USA

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Pet Health Care in the USA
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Pets in American Homes
62
60.2 M
68
Of American households have at least one pet.
Households have a dog as a pet
Dog parents would continue spending on pet health
regardless of economic downturn
Pet Life Today Pet Statistics, Insurance
Information Institute
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Increase in Household Expenditure over the years
Spend on Human Healthcare Vs Pet Healthcare
Annual spending (CPI adjusted) per household
(relative to 1996)
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A Booming Industry
Industry Growth It has been estimated that the
the total American pet industry expenditure in
2018 will reach 69.36 billion, up from 66.75
billion in 2016.
Research Development A lot of research and
development has been taking place within pet
healthcare industry as well, with more innovative
and safer methods coming up to prevent and cure
illnesses.
Familial Bond People have started treating their
pets as part of their family. Research has showed
that 95 Americans consider their pet to be a
part of their family, up from 88 in 2007.
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New Innovations
With the pet care industry growing day by day, it
has seen a lot of new innovations.
3D-Printed Prosthetics 3D printing technology
can be used to make comfortable and accurate
prosthetics. These are highly effective and
comparatively cheaper to other prosthetics.
Co2 Laser Surgery Co2 laser surgery has slowly
become a standard surgical procedure in the
veterinary world. It provides greater precision,
less bleeding and a less painful recovery
Telemedicine With the help of telecommunication
technology pet parents can easily reach out to a
vet, send live reports and even diagnose their
pet's health from wherever they are.
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The Effect of an Increase in Pet Healthcare on
Other industries
Pet Insurance

• In the present day and age, pet parents have
  greater expectations for their pets health and
  want to provide the best that they can.
• With the ever increasing costs of healthcare,
  expensive drugs and medical procedures, it
  becomes difficult for a lot of people to afford
  it.
• Pet insurance comes handy in such situations,
  most of them cover wellness, illness, accidents,
  death etc. It can either cover the expenses
  partly or in total depending on the plan.
• It has been estimated that only 0.7 of pets in
  the US are covered by Pet Insurance. This trend
  is slowly increasing with companies coming up
  with better schemes and plans for pet parents.

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The Effect of an Increase in Pet Healthcare on
Other industries
Pet Foods and Supplies

• Pet parents have started focusing more on
  preventive care rather than going through the
  pain and pressure of curing a problem later.
• Along with an increase in the number of people
  opting for a pet insurance, people have also
  started choosing better food options for their
  pets so as to provide their pets with stronger
  immunity and better health.
• Pet food which is 100 natural dog treats which
  are grain and gluten free have also gained a lot
  of popularity.
• In the US, premiumization of pet foods has
  become a mainstream practice, this ensures that
  the nutritional needs of pets are being met and
  they lead a healthier, better life.

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Going Beyond data The social impact
The way people perceive their furry friends has
changed over the years. They connect with their
little ones in a different way now, they now see
them as a member of their family. People are
ready to spend more than they can afford on their
pets. The focus has also shifted on maintaining
a pets overall health rather than curing it when
a problem arises. Thus there has been an increase
in the number of people opting for a natural and
healthy diet for their pets. This is one of the
reasons why the United States is seeing a great
expanse in the pet healthcare industry. Not only
has there been an increase in research and
development, but also an increase in the number
of innovations in terms of medical assistance.
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