Abstract
US demand to grow 6.7% annually through 2011
Total pet health spending (products and services) is projected to increase
6.7% per year to nearly $30 billion in 2011. At the manufacturer level, demand
for pet health products in the US is forecast to advance 5.4 percent per year
to $4.9 billion in 2011. Spending on pet health products and services has
doubled over the past decade, driven by the 60% of US households that own pets
and by advances in veterinary technology. Increased health care spending in
turn has resulted in pets living longer. Pet ownership is expected to remain
high, and spending on the health of those pets is forecast to remain favorable.
Shift toward preventative care to boost vitamins, drugs
In the past, the focus of pet health has been on the diagnosis and treatment
of existing health problems. However, as pet owners view their pets as more
"human" or "child-like" there is a growing interest in undertaking
preventative measures to ensure long-term health. These attitudes are driving
demand for vitamin and mineral supplements and certain parasiticides, improved
diagnostic chemicals, as well as more standardized check-up schedules. And, if
a pet does become ill, there will be a wider array of pharmaceuticals
available than in the past.
Study coverage
It presents historical demand data for the years 1996, 2001 and 2006 plus
forecasts for 2011 and 2016 by pet health product, service, medical condition
and animal. The study also considers market environment factors, evaluates
company market share and profiles key companies.
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