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“In the United States especially, we’re seeing a lot of growth in the animal healthcare industry, driven by the humanization of the pet,” says Jed Brody, Co-Head of Healthcare M&A. Watch the video to see why the animal healthcare sector continues to evolve and why the pace of innovation shows no sign of slowing down.

As the insatiable love for pets grows, so do the supporting industries. Here’s a snapshot of the pet health market:

  • 65% of U.S. households have at least one pet.1
  • The U.S. veterinary services market is projected to grow to $43 billion by 2021.1
  • 76% of owners have said they’d spend any amount necessary to keep pets healthy.2  
  • Veterinary care represents 37% of the $55 billion global animal health market.3
  • The pet insurance industry has grown, on average, 15% to 17% annually in the last few years.4
People are willing to spend endless amounts of money on their animals because they see them as true family members. Pet nutrition will also be an increasingly important component of clinical care for pets.
Jed Brody, Barclays' Co-Head of Healthcare M&A

1 Source: IBIS World, 2017

2 Source: Vet Med Today: Special Report, JAVMA Vol. 232, No. 4, 2008

3 Source: Barclays; IBIS World 2017; Technavio 2015; Global Animal Healthcare Market excludes livestock feed, pet food, pet supplies and services, distribution, and nutritional supplements and other OTC healthcare products

4 Source: "Pet Insurance Is Now the Hottest Employee Benefit," Fortune.com, Fisher 2016

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