Packaged Facts in the new market research study, Pet Medications in the U.S., 6th Edition, estimates U.S. retail sales of pet medications hit $9 billion in 2018, inclusive of sales through veterinarians, brick-and-mortar stores, and online retailers. The market has increased at a robust pace since 2014, with a compound annual growth rate (CAGR) of 8% for the five-year period.
An emerging trend indicating pet owners’ growing interest in pet wellness, health monitoring products are becoming more common.
• Tailio fields a namesake device designed to be placed under a cat’s litter box to collect data on weight, amount of waste, frequency of visits, and litter box behavior, with data being “sent to the cloud where powerful analytics learn your cat’s individual profile and watch for trends in their weight and litter box behavior” while keeping the pet owner informed via smartphone app.
• PrettyLitter, available for home delivery via subscription plans, changes colors to let the pet owner know when the cat is sick.
• Petnostics fields the first at-home mobile urine test for pets, including kits, strips, and accessories. According to press materials, the product employs the same diagnostic technology used by veterinarians and includes an app that lets pet owners assess potential health issues and monitor chronic conditions such as diabetes, bladder stones, and urinary tract infections.
“Informed pet owners are able to spot potential health problems early and seek treatment before small problems grow to become serious health conditions,” says David Sprinkle, research director for Packaged Facts.
Also breaking new ground in the pet market is a phenomenon that is on-trend in the human wellness market as well: DNA testing. Especially active in this arena is Mars with its Wisdom Panel for dogs, which combines breed ancestry with detection of potential inherited health conditions. Other companies in this market include Embark, HomeDNA, and DNA My Dog.
The tests have become so popular that in June 2019, Canine Journal reviewed several of the tests, and the American Kennel Club has released guidelines for pet owners, explaining how these tests work and what they can be used for.
Packaged Facts’ Survey of Pet Owners indicates that 29% of dog owners and 22% of cat owners agree that “I am interested in buying an at-home DNA/health screening kit for my pet(s),” and these numbers only stand to grow as the test results are increasingly used to predict and enhance pet health.
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