This post is by Sponsored Content from Visual Capitalist
The following content is sponsored by NuGen Medical Devices.
Putting Pet Health First: Chronic Illnesses in Dogs and Cats
If you own pets, do you consider them a part of your family?
With pet ownership trends on the rise, particularly among younger generations, the pet care market is booming too. This includes a growing awareness of the different pet health conditions that one’s pet may face—especially chronic illnesses.
This infographic from NuGen Medical Devices looks at some of the most common chronic illnesses in dogs and cats, and how prevalent they are.
The Global Pet Health Industry
High shares of many generations reported considering their pets as “beloved family members”, according to a survey of pet owners. However, to take this further, Millennials and Gen Z cohorts reported seeing themselves more as “pet parents” instead of owners.
This is partially what is behind the bourgeoning rise of the pet care market, which is set to surpass $350 billion by 2027, at a compound annual growth rate of 6.1% between 2020-2027P.
Another driver of this market is that pets are a long-term commitment, which makes the industry relatively recession-proof as no matter the conditions, people continue to invest in making sure their pets have a high quality of life. This is helping many pets to live longer on average:
- Outdoor cats: 5-7 years
- Medium to large dogs: 8-13 years
- Small dogs: 10-15 years
- Indoor cats: 13-17 years
However, the older a pet gets, the more at-risk that pet (Read more...)