Today’s Veterinary Business Staff
Survey: U.S. pet obesity rose in 2017
Sixty percent of U.S. cats and 56 percent of U.S. dogs were classified as overweight in 2017, according to the Association for Pet Obesity Prevention. The 10th annual survey revealed that an estimated 50.2 million dogs and 56.5 million cats were above a healthy weight. In 2016, 54 percent of dogs and 59 percent of cats were considered overweight or obese.
Patterson Veterinary endorses Veterinary Nurse Initiative
Patterson Veterinary is supporting the Veterinary Nurse Initiative, an effort by the National Association of Veterinary Technicians in America to unite the veterinary technician profession under a single title, single credentialing requirements and single scope of practice. The initiative will pursue legislative amendments in all 50 states to establish the universal credential of registered veterinary nurse (RVN).
Global veterinary services are on the rise
The global veterinary services market is growing at 6.2 percent annually, slightly slower than the overall health care market’s 7.1 percent, according to a report by Business Research Co. Growth in the pet population, increasing penetration of pet insurance, pet humanization within urban populations and increased awareness of animal welfare needs due to social media are helping the veterinary services market.
Private equity firms looking to get into pet care space
An article published in Mergers & Acquisitions examined why private equity firms are looking at veterinarians, dentists and other health care providers. Pet care was one of several categories highlighted. “The sector is benefiting from consistent growth, as pet owners have more disposable income and spend more than ever before on their pets,” wrote Danielle Fugazy. “Additionally, more people than ever before are pet owners today. Approximately 68 percent of U.S. households own a pet; that’s up from just 33 percent in 2000, according to IBIS World Report. Add to those tailwinds that there is no reimbursement risk, and it’s a highly fragmented industry, and it’s no wonder private equity firms are clamoring to get into the space.” According to Harris Williams, only 9 percent of the veterinary market is consolidated. That’s compared to 33 percent in optical, which is still considered ripe with consolidation opportunities.
Survey examines drug exposure for pets
According to People magazine, the Family Center for Recovery surveyed over 1,000 pet owners who admitted to seeing their pet ingest drugs or other substances. Among the findings: 807 participants confessed to seeing their dog consume drugs or alcohol as opposed to only 274 for cats. The survey found that alcohol was the substance accidentally consumed by the most pets, with 27.8 percent of respondents saying it happened. About 1-in-4 participants thought that marijuana inhalation or consumption was safe for pets.
Brakke Consulting to present animal health webinar
A two-hour webinar on turmoil in the global animal health industry will be presented by Brakke Consulting at 10 a.m. CDT May 22. The webinar will address major changes impacting the industry and put them into perspective. Topics include industry metrics and growth, drivers of change, performance of the leading companies, transition in veterinary distribution, veterinary practice metrics and consolidation, innovation in diagnostics, and the outlook for 2018, 2019 and beyond. To register for the webinar, go to www.brakkeconsulting.com. The deadline is May 18.
Merck names food animal technical services leader
Justin Welsh, DVM, was appointed executive director of food animal technical services for Merck Animal Health’s U.S. food animal team. Dr. Welsh previously served as an associate director of Merck Animal Health technical services.
Zoetis building vaccine plant and R&D center in China
Zoetis Inc. has broken ground on a combined global manufacturing and research and development center in Suzhou, China. The facility will focus on swine, cattle, fish and companion animal vaccines that help protect against disease strains prevalent in China.