Where Is That Money Going?
Where Is That Money Going?
When you look at the breakdown of spending by pet owners, you’ll notice that veterinary care is in the second spot only behind food. Supplies and over-the-counter medicine come in at a close third.
Estimated 2019 Sales within the US Market*
The fact that veterinary care is near the top of the list shows the strength of the human-animal bond. Many pet owners will do anything for their pets and want the same kind of high quality medical care for them that is available to people. That’s good news for the veterinary industry. However, a closer look at veterinary spending growth, usage trends, and shifting demographics reveals some concerning patterns.
*Source: American Pet Products Association, http://www.americanpetproducts.org/press_industrytrends.asp