Growth in Pet Health Monitoring and DNA Testing by Dog and Cat Owners, reports Packaged Facts

ROCKVILLE, Md., Aug. 26, 2019 /PRNewswire/ -- Today's pet owners are more directly involved in their pets' healthcare, educating themselves about the latest pet health medications and services and paying particular interest to those that track trends on the human side. They want—and are willing to pay more for—products offering preventive benefits, such as flea/tick and heartworm medications, as well as those targeting specific health conditions, from pain to diabetes to cancer.

Packaged Facts in the new market research study, Pet Medications in the U.S., 6^th 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 of pet owners' growing interest in pet wellness, health monitoring products are becoming more common. For example:

• 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.

About the Report

Pet Medications in the U.S., 6th Edition (published 07/2019, 157 pages) is available for $3,995 from Packaged Facts.

Media members please contact our Communications Manager Daniel Granderson at [email protected] for a copy of the report summary. Those interested in purchasing the report can contact Research Specialist Jeff Miller at [email protected] or visit https://www.packagedfacts.com/updates/Pet-Medication.

Pet Medications in the U.S., a completely updated sixth edition covers:

• historical and projected retail sales from 2014 through 2022;
• competitive strategies of key players;
• trends in new product development;
• retail channel trends, with a particular focus on the online marketplace;
• consumer purchasing trends and demographic, featuring exclusive data from Packaged Facts' February/March and April 2019 Surveys of Pet Owners as well as Simmons consumer survey data.

About Packaged Facts

Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer demographics and shopper insights, consumer financial products and services, consumer goods and retailing, and pet products and services. Packaged Facts also offers a full range of custom research services. Reports can be purchased at our company website and are also available through MarketResearch.com.

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SOURCE Packaged Facts

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