Is the innovation taking place in the animal health market beginning to parallel advances in human healthcare?
“Our unique HUB model is a holistic approach to the overall continuity of care for a pet’s health.”
CEO, Destination Pet
The animal health market has seen consistent, steady growth over the last few decades bolstered by tailwinds of increasing pet ownership, growing pet spending, and perhaps most notably, the increased humanisation of companion animals.
Not only are we adopting more pets, but we are forming deeper, more personal connections with our pets. Today, 68% of the US population own a pet, and 99% of those pet owners view their animals not merely as a pet, but as a member of the family.
This humanisation of pets is playing out in how pet owners are caring for their animals from the onset. Consumer-facing, natural pet products are a booming industry, offering higher quality, holistic diets, natural flea and tick repellents, and even organic toys. We have seen the emergence of digital devices to monitor and engage with pets and in-home services catering to busy owners. And in the way of animal health, there has been an increase in initiatives around preventative care and a wide range of treatment and diagnostic options, including clinical pathology and therapy.
The innovation taking place in the animal health space is beginning to parallel advances in human healthcare. Previously reserved for humans, biotech drugs are emerging as treatments for pets, with a robust development that currently includes treatments for diabetes, dermatitis, osteoarthritic pain, inflammatory disease, and cancer.
Between changes to how owners are caring for their pets and the advancements in vet care and new options for treating disease, pets today are living longer lives. The average life expectancy for dogs is nearly 12 years today, up from 10 years in 2002. As pets live longer lives, they are at increased risk for developing cancer and other age-related disorders, such as cardiovascular disease, diabetes, and arthritis. And in an age where pet owners consider their animals family, they are often willing to go to great lengths to find solutions to care for their ageing pets as evidenced by the rise in pet insurance and advanced surgical procedures. All of which is setting the stage for future growth.
Alongside new approaches to pet care and advancements in animal medicine, we believe that there is a better, more comprehensive approach to the total health and wellbeing of today’s pets. More than a broad array of services, our unique HUB model is a holistic approach to the overall continuity of care for a pet’s health. Having an integrated offering, enhanced through multiple touch points for the pet and the pet parent, leads to an overall healthier pet, both physically and mentally. Day care leads to better weight control for obese pets as well as pet socialisation, which improves mental, physical, and behavioural issues. Our groomers, coaches, and boarding staff play important roles, having frequent direct contact with pets, and can help identify acute and chronic conditions, resulting in faster, more comprehensive treatment. This service-led approach truly puts our customers, and their pets, at the centre of everything that we do, and this focus on the continuity of care produces better outcomes in pet health.