NEW YORK, May 3, 2017 /PRNewswire/ --
Pets are the loyal, much-loved
In 2016 alone, U.S. consumers spent over $65 billion on pet-related products [(1)]. According to a 2013 study published by the U.S. Bureau of Labor Statistics, U.S. households own approximately 218 million pets and pet-related expenses for the average U.S. household amounts to about 1 percent of their total annual spending. Further, the North American Pet Health Insurance Association reports that pet health insurance premiums hit $774 million in the U.S. in 2015, with 1.6 million pets being insured by the end of that year. Clearly, consumers are interested in the health and wellbeing of their pets, and they're showing it with dollars.
The veterinary market is a veritable cash cow - if readers will pardon the pun - that offers virtually limitless investment potential.
One pioneering company, India Globalization Capital (IGC) is forging new paths in the medical marijuana market by exploring the potential health applications of cannabis in domesticated animals. IGC is engaged in the development of phytocannabinoid-based treatments to address pain and a variety of medical conditions, including marijuana-based therapies to treat seizures in dogs and cats.
Treatment for pet seizures represents a surprisingly large market. Statistics indicate that between 1 percent and more than 5 percent of dogs have some sort of seizure disorder, and certain canine breeds with hereditary epilepsy may have as high as 15 to 20 percent incidence of seizures. Abnormal brain activity is frequently the culprit behind canine and feline seizures, and these seizures can result in both subtle and violent convulsions, either of which is most alarming for a pet owner to witness.
IGC offers a novel therapy using cannabinoid extracts to treat such seizures in pets. The company has applied for a U.S. patent based on this therapy, which can be administered via various delivery technologies and has indications for mammals, including dogs and cats. This therapy has the potential to be useful in humans, as well. IGC anticipates conducting metabolic profiling and commencing trials.
Another company aimed at capitalizing on the opportunities of the pet health market is VCA (NASDAQ: WOOF). This veterinary services company has become one of the largest families of animal care providers in the United States, operating more than 800 veterinary hospitals across the U.S. and in five Canadian provinces. The company also provides diagnostic services and supplies high-tech imaging to over 17,000 independent veterinary hospitals. Through its Camp Bow Wow subsidiary, VCA additionally provides doggy daycare and boarding services at more than 130 franchised locations throughout the United States.
Online pet pharmaceutical company PetMed Express (NASDAQ; PETS), also known under the name 1-800-PetMeds, is the largest pet pharmacy in America, having served over 9 million customers and counting. PetMeds is a licensed pharmacy that dispenses FDA/EPA-approved medications for animals-the same products available from veterinarians-and employs the largest number of veterinary pharmacists in the world.
Blue Buffalo Pet Products (NASDAQ: BUFF) approaches pet health in another way, offering natural, healthy pet foods to help prevent-and in some cases treat-pet illness and to foster the health of America's pets in a nutrition-based way. The company currently has approximately 6 percent share of the general pet food industry, feeding 164 million pets in the U.S. and counting. The company's products include veterinarian and nutritionist-formulated therapeutic pet foods that can only be purchased through veterinary offices.
Pet health care innovator IDEXX Laboratories (NASDAQ: IDXX) serves veterinarians across the globe with a wide array of diagnostic and information technology-based services and products. These products better equip and enable veterinarians to offer advanced medical care, bolster staff efficiency, and build practices that are more economically successful. The company is also a leading global provider of diagnostic tests and information for livestock and poultry, as well as tests that gauge the quality and safety of water and milk. Among its products, IDEXX offers the very first low-dose radiography system in veterinary medicine, as well as a test that enables veterinarians to detect acute kidney injury and chronic kidney disease in pets earlier than ever before. IDEXX Laboratories products are sold in over 175 countries.
It's no secret that consumers love their pets, and a multibillion-dollar global industry is positive proof. Companies, such as those named, that are in the business of serving the health interests of pets provide a virtually limitless wellspring of investment opportunities in a market that is ever-growing and boasts impressive longevity to rival any other market segment in existence.
For more information on India Globalization Capital please visit India Global Capital (IGC)
NetworkNewsWire (NNW) is an information service that provides to users (1) access to our news aggregation and syndication servers, (2) enhanced press release services, and (3) a full array of social communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.
The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.
NNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.
Media Contact e-mail: FN Media Group, LLC [email protected] +1(954)345-0611
Subscribe to our Free Newsletters!
Urinary retention is a condition where a person is unable to voluntarily empty the urinary bladder ...
Hashimoto's thyroiditis is an autoimmune disorder of the thyroid causing hypothyroidism. Synthetic ...
Strokes occur when blood flow to an area of the brain is cut off. It is imperitive to detect the ...View All