Dublin, Jan. 16, 2020 (GLOBE NEWSWIRE) -- The "Veterinary Services in the US: Competing for the Pet Care Customer, 2nd Edition" report has been added to ResearchAndMarkets.com's offering.
Focusing on dog and cat owners, this report provides a comprehensive and in-depth look at the competitive dynamics surrounding the veterinary care customer:
- Veterinary sector sales and growth trends in the context of the overall pet services and products industry, including projections through 2023
- Veterinary care customer usage patterns, priorities, and opinions, including use of alternative vet service formats and therapies
- Veterinary care usage rates and demographics
- Challenges and opportunities in intersecting markets: pet medications, pet supplements, pet food, and pet insurance
- Comprehensive perspective with historical trending on pet ownership rates and demographics, multiple-pet ownership, new pet adoption, and projected pet population through 2023
Pet owners who view their dogs and cats as family members or lifestyle partners spend more on their pets, and as significantly are shifting the channels, services, and products they use to meet their evolving and increasingly broadened pet health and wellness needs.
One of the central challenges for the veterinary sector, as the anchor for pet healthcare, is a growing misalignment between what vets and pet owners view as pet care. Veterinary visit rates are correspondingly at risk, especially among cat owners and the all-important Millennial generation.
At the same time, macroeconomic forces and tech innovation are splitting pet owners and veterinary practices into haves and have-nots, in part along geographic and top metro area/rural lines, even as corporate expansion of veterinary chains heads the growing list of alternatives to traditional local, independent vets.
These alternatives, running the gamut from chain veterinary clinics co-located in pet specialty and mass-market superstores to online telemedicine, are used by Millennial pet owners at markedly higher rates. At the same time, the Internet presents an especially sharp challenge to veterinary practice profits as pet medication pharmacies and sales shift online, and as superpremium pet food marketers favor pet chain, mass-market, and online sales.
Veterinarians continue to hold the trump card as the hands-on pet health experts, but the veterinarian profession must become adept at both competing and partnering with the aggressively disruptive consumer market and digital technology trends.
Companies Mentioned
- Meijer
- Petco
- PetIQ
- Walmart
Key Topics Covered
1. Executive Summary
- Scope & Methodology
- Scope of Report
- Report Methodology
- The Veterinary Sector in Pet Industry Context
- A Bird's Eye View of Pet Industry Competition
- Not Just Omnichannel but Omnimarket
- A $90 Billion Industry
- Consumer Spending Levels on Dogs vs. Cats
- Pet Expenditure Growth Is Outpacing Total Consumer Expenditure Growth
- Hispanic Spending on Pets Jumped Dramatically
- Competitive and Consumer Dynamics in the Veterinary Sector
- Usage Rates for Veterinary Services
- The Proliferation of Vet Care Providers
- Veterinary Services in Superstores
- Reasons for Vet Visits
- Customer Priorities Vary by Generational Cohort
- Vet Care Service Providers Going Digital
- Pet Product E-Commerce in Perspective
- The Veterinary Care Customer
- Dog Care vs. Cat Care Customer Demographics
- The Veterinary Sector and Intersecting Markets
- Pet Medication Market Trends
- Veterinary Customer Expenditures on Pet Meds
- Pet Medications Sales Shift to Online Platforms
- Pet Supplements Market Trends
- Veterinarian Clout
- Vet Customers and Pet Supplements
- Pet Food Market Trends
- Pet Food Market Facing Major Headwinds
- Innovation Drives Pet Food Marketers in Fresh Directions
- Veterinary Diet Marketers Adapt to E-Commerce Age
- Vet Customers and Pet Food
- Pet Insurance Market Trends
- Pet Population and Ownership Trends
- 55% of Households Keep Pets
- Total Number of Pet Dogs and Pet Cats
- Dog- vs. Cat-Owner Demographics
- Multiple-Pet Ownership: Patterns for Dog vs. Cat, Dog, and Cat
- Multiple-Pet Owner Demographics
- Dog Adoption/Acquisition Rates
- Veterinarians as Most Important Source of Information on Dog Care
- Cat Adoption/Acquisition Rates
- Vets vs. Personal Experience as Top Sources of Information on Cat Care
- Boomers Hang On to Canine Companionship
- Number of Pet Households and Number of Pets Through 2023
2. The Veterinary Sector in Pet Industry Context
- Chapter Highlights
- A Bird's Eye View of Pet Industry Competition
- The Human/Animal Bond as Catalyst
- Market Size and Growth
- A $90 Billion Industry
- Pet Owner Spending: Veterinary Services vs. Other Pet Categories
- Consumer Spending Levels on Dogs vs. Cats
- Key Patterns and Demographics for Pet Expenditures
- Pet Expenditure Growth Is Outpacing Total Consumer Expenditure Growth
- Hispanic Spending on Pets Jumped Dramatically
- Married Couples Without Children Spend the Most on Pets
- Boomer and Senior Households Account for 47% of Aggregate Expenditures on Pets
- Top 20% of Households Account for 40% of Spending on Pets
- Dog Owners Are Responsible for Two out of Three Dollars Spent on Pets
3. Competitive and Consumer Dynamics in the Veterinary Sector
- Chapter Highlights
- Competitive Trends
- Usage Rates for Veterinary Services
- The Proliferation of Vet Care Providers
- Veterinary Services in Superstores
- PetIQ Expanding Petcare Clinic Locations at Walmart, Meijer
- Reasons for Vet Visits
- Consumer Expenditure Levels on Products and Services Through Vet Clinics
- Veterinary Clinics: What Customers Want
- Customer Priorities Vary by Generational Cohort
- Customer Assessments of Veterinary Costs
- Millennials Receptive to Alternative Veterinary Approaches
- Vet Care Service Providers Going Digital
- Vet-Connected Pet Wearables
- Vets as Top Sources of Pet Care Information
- The Veterinary Care Customer
- Overall Usage Rates
- Dog Care vs. Cat Care Customer Demographics
- Vet Customer Patterns by Gender
- Vet Customer Patterns by Age Bracket and Generational Cohort
- Vet Customer Patterns by Educational Attainment, Employment Status, and Household Income
- Vet Customer Patterns by Marital Status and Household Composition
- Vet Customer Patterns by Race/Ethnicity and Geographic Region
4. The Veterinary Sector and Intersecting Markets
- Chapter Highlights
- Pet Medication Market Trends
- Market Challenges and Growth Opportunities
- Market Size and Growth
- Pet Medication Sales to Surpass $12 Billion by 2022
- Veterinary Customer Expenditures on Pet Meds
- Vet Visits for Pet Medications
- Share of Sales by Animal Type
- Share of Sales by Product Type
- Parasiticide Sales by Type
- Overall Pet Industry Focus on Health and Wellness
- Fairness to Pet Owners Act
- California Requires Vets to Provide Pharmacy Counseling
- Parasiticide Use Impacted by Product Confusion, Perception of Risk
- Pet Owners Rely on Veterinarians for Pet Medication Advice
- Most Buy Prescription Veterinarians Through Veterinarians
- Preference for Buying Veterinarians Through Vet-As Long as Prices Are Competitive
- Vet Websites and Walmart Are Top Online Venues for Pet Veterinarians
- Sales Shift to Online Platforms
- Cost and Convenience Drive Internet Sales
- Usage Rates for Heartworm Prevention: Dogs vs. Cats
- Pet Supplement Market Trends
- Market Challenges and Growth Opportunities
- Market Size and Growth
- Market Projections
- Share of Sales: Dogs vs. Cats
- Pet Supplement Purchasing Rates in Context
- Supplement Product Usage Rates by Health Condition or Concern
- Veterinarian Clout
- The AVMA and Pet Supplements
- Key New Product Trends
- Share of Sales by Distribution Channel
- Channel Shopping Trends for Pet Supplements
- Online Shopping for Pet Supplements
- Vet Customers and Pet Supplements
- Trust in Veterinary Advice
- Pet Supplement Customer Demographics
- Pet Food Market Trends
- Market Challenges and Opportunities
- Market Size and Growth
- Sales Growth Slower But Steady Through 2023
- Dog Food Dominates Pet Food Sales
- Dental and Functional Treats
- Pet Food Market Facing Major Headwinds
- The Quest for Healthier Pet Foods
- Senior and Overweight Pets
- Pet Food Safety
- Petco Bans Artificial Ingredients in Pet Food
- Grain-Free and DCM
- Pet Pampering
- Innovation Drives Pet Food Marketers in Fresh Directions
- Veterinary Diet Marketers Adapt to E-Commerce Age
- Share of Sales by Distribution Channel
- Pet Food Customer Shopping Patterns: The Top Retailers
- Pet Insurance Market Trends
- Market Challenges and Growth Opportunities
- Augmenting Distribution Channels
- Market Size and Growth
- Consumer Awareness Continues to Grow
- Technology Is Streamlining Claims Processing & Reimbursements
5. Pet Population and Ownership Trends
- Chapter Highlights
- Pet Population Overview
- Note on Data Sources
- Total Number of Pet Dogs and Pet Cats
- Pet Owner Demographics
- Dog- vs. Cat-Owner Demographics
- Multiple-Pet Ownership
- Patterns for Dog vs. Cat, Dog and Cat
- Multiple-Pet Owner Demographics
- Dog Adoption Overview
- Dog Adoption/Acquisition Rates
- 7.4 Million New Dog Households
- Where/How Pet Dogs Were Acquired
- Size of Pet Dogs Acquired
- Inside/Outside Patterns for Keeping New Dogs
- Veterinarians as Most Important Source of Information on Dog Care
- Dog Adopter Demographics
- Cat Adoption Overview
- Cat Adoption/Acquisition Rates
- 4 Million New Cat Households
- Where/How Pet Cats Were Acquired
- Vets vs. Personal Experience as Top Sources of Information on Cat Care
- Cat Adopter Demographics
- Key Patterns
- Pet Owner Demographics 2009 vs. 2019
- Change and Continuity
- Boomers Hang On to Canine Companionship
- Pet Population Projections
- Number of Pet Households and Number of Pets Through 2023
For more information about this report visit https://www.researchandmarkets.com/r/e89e2d
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