Amplifying pet and veterinary care business value
The human and pet health care gap is narrowing, driving innovation and opportunity for pet businesses.
Although the growing sophistication and cost of diagnostics and treatment options are creating significant challenges in affordability of care for pet parents.
Challenges facing pet care players
3%
Annual visits to vet practices declined by 3%(1) in 2023 vs prior year. Rising cost of care is increasing financial burden on pet parents, leading to less veterinary visits and decreasing practice volume
75%
of pets are at risk of not receiving care by 2030 driven by shortage of vets due to burnouts and practice inefficiencies, which are impacting standards of care and pet parents’ experience
4%
Only ~4%(3) of pets are insured in the US and low levels of insurance adoption directly impact poor compliance in seeking preventative and critical care. Insured pets visit vets 2x (4) more often than uninsured pets
20%
Only 20%(5) employers provide pet insurance as a voluntary benefit. Regulators and policymakers have not made strides to offer benefits similar to human health care
A collaborative approach across the pet care ecosystem amplifies value and impact
Each pet care industry player has a distinct individual role and a role as part of the ecosystem. The power of the ecosystem lies in jointly solving for affordability and access to better care.
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Amplifying pet and veterinary care business value
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