The mission of CARE for Pets™ (a leading consumer advocate for the PET CARE INDUSTRY) is to advance the health, safety and wellness of all pets by improving transparency and accountability; and seeks to strengthen the human-animal bond to improve the lives of people and their companion animals.
The corporatization of the pet care industry: The growing corporate influence in the pet care industry has accelerated over the last few years — largely invisible to many pet owners because corporate entities view the corporatization of a business as a marketing liability and may purposely avoid corporate ownership identification and hide ownership. In the last six years, the market share of corporate-owned veterinary practices has increased approximately 300 percent — nearly 1 out of 3 animal hospitals in the u.s. are now owned by corporate consolidators. Common complaints among employees of veterinary consolidators say their employer prioritizes profits over patient care. By sharing trusted and unbiased information with consumers, CARE for Pets™ seeks to empower pet owners to effect positive change in the pet care industry in order to provide the best care for all companion animals.
It’s estimated that 71% of pet medication sales for cats and dogs were sold by veterinary hospitals in 2022 according to market research firm Packaged Facts — market share was approximately 74% in 2018. Many veterinary practices outsource their online pharmacy to a prescription management service — third-party vendor provides individual practice websites with a clinic-branded online store (private-labeled online pharmacy) that offers home delivery of pet prescription medications. Pharmacy sales can make up over 25% of a practice’s revenue.
Approximately 4.85 million pets were insured in the u.s. at the end of 2022 according to the North American Pet Health Insurance Association (NAPHIA). The average accident and illness premium for dogs in 2022 was $640 — 9.6% annual increase and $387 for cats — 12.9% annual increase. In 2023, some pet insurance companies were seeking annual premium rate increases of 30 to 56 percent.
A growing number of pet owners looked for an accredited hospital the last time they chose an animal hospital. Unlike human hospitals, not all veterinary hospitals are required to be accredited. Word-of-mouth is still the primary factor for selecting a new veterinary practice. A recently published first-of-its-kind study reveals “veterinarians working in corporate practices reported feeling more pressure than those in private practice to generate revenue and see more clients per shift” — always verify the current ownership status with your doctor.
It’s estimated that 70% of u.s. households own a pet which equates to 90.5 million homes according to the American Pet Products Association (2021-2022 APPA National Pet Owners Survey). 69 million households owned a dog and 45.3 million owned a cat.