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Veterinary Services in the U.S.: Competing for the Pet Care Customer, 2nd Edition

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Published on Dec 3, 2019

For more information: https://www.packagedfacts.com/Veterin...

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 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, macro economic 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 aggressively disruptive consumer market and digital technology trends.

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