The veterinary industry is one of the most complex and competitive globally. It has a growing number of customers and an ever-changing landscape in animal health and welfare. As the industry enters into a new era, it’s essential to keep up with the latest trends and developments. This blog will give you an overview of some of the most pressing veterinary industry trends you should be aware of in 2022.
1. Pandemic Pet Adoption and Acquisition
There are many reasons for pet owners to consider adopting a shelter pet. Not only does it reduce the number of unwanted animals in shelters, but it also can help reduce the number of pets that need euthanasia. In addition, since the onset of the Covid-19 pandemic, pet ownership has grown to homebound consumers looking for companionship and working to alleviate boredom and stress. According to Packaged Facts approximations, it was estimated that in 2020, the number of pet dogs increased to 96 million being up by 10 million compared to 2019, while the number of pet cats went up to 32 million, being higher by 2 million compared to 2019. This has created a strong demand for pet adoption and pet rescue.
2. Pet-Friendly Housing
Pet-friendly housing is an important trend in the veterinary industry. According to the American Veterinary Medical Association, it is estimated that there are over 21 million households with pets in the US alone. If these households included companion animals, they would be over 23 million households. There are also over 126 million households with pets worldwide. This creates a vast market for pet-friendly housing as more and more people seek to live with their pets at home. According to the American Pet Products Association, there was an increase of almost 8% in sales of pet-related products for the year 2019, which includes pet food, accessories, toys, etc., which may be attributed to this trend of people choosing pet-friendly housing options for their homes and offices. The market for pet-friendly housing is expected to grow at a CAGR of 7% from 2017 to 2022.
3. A Boom in the Market for “Other” Pets
Several other pets are being considered for adoption, such as reptiles, birds, and exotic pets. There is also a growing market for exotic pets, including reptiles, birds, and arachnids. Because of their low-maintenance needs compared to other pets, these animals are becoming more popular with high-end consumers. According to the research findings by Packaged Facts, about 12.2% of the entire US households rear one or more than one type of pet apart from cats and dogs being, an increase from 10.8% over the past five years. This implies that there is a large market for other pets.
4. The Adoption of Pets
According to the National Pet Alliance, more than 10 million pets are in shelters across the US. This means that their owners do not adopt approximately 1 in every four dogs and cats. This is because of various factors such as the high adoption fees and lack of awareness about this trend. Several awareness campaigns have been conducted to help people adopt their pets, as they were more effective than traditional advertising methods such as television commercials or newspaper ads. These awareness campaigns include pet adoption drives, pet adoption events, and social media marketing campaigns. According to Packaged Facts estimates, it was estimated there were over 21 million households with pets in the US alone in 2019, and this number is expected to increase by 2020, reaching 23 million households with pets which would mean an increase of about 2 million households with increased numbers of pet adoptions compared to 2019.
5. Investing in Pet Tech
Several companies have been started to provide solutions for pet needs. These companies include Petcube, which has a camera attached to a pet collar and provides the pet owner with live streaming video of what is happening in the home. This includes pets doing their normal activities. Another company called Pawbo uses a smart feeder that allows all food items to be delivered directly into the bowl without worrying about them being found by pets or humans. The company also claims that it can reduce food waste by up to 50% by eliminating the need for bowls and other messes.
6. Pet Parents are Going Green
Many different companies provide pet owners with the necessary products for their pets. One of these companies is called PetPals, which offers pet owners the option to plant a seed in a pot or buy a seedling to grow into a plant. The company has also made it possible for pet parents to provide their pets with organic treats and other organic products. The company has stated that they will be able to provide pet parents with these options monthly to choose what they want to purchase each month. This will be done by having the pet parents provide their pets with an RFID chip.
7. A Rebound for Pet Services
The pet services industry has been going through a rough time as of late, but it is expected to see some improvements in the coming years. According to a survey conducted by the American Pet Products Association in 2018, it was found that over 60% of pet owners felt that there was a need for a company to provide them with the necessary services for their pets. The industry is expecting this number to increase in 2019 and 2020. One of the main reasons this number is expected to increase is that many people buy second-hand pets from other people and then find out there are no services available for them.
The trends in veterinary technology are extremely exciting, and it is expected to see a lot of new products and services come out in the coming years. It is also likely that these products will be made available to all pet owners.