NetworkNewsWire Editorial Coverage: Pets are the loyal,
much-loved companions we humans can’t seem to live without, and
when a beloved pet becomes ill, owners will generally do whatever
it takes to restore these beloved companion animals to health.
Various public companies are accomplishing the two-fold mission of
improving the health of our four-footed friends while giving
investors the opportunity to capitalize on a multibillion-dollar
industry. India Globalization Capital, Inc. (NYSE: IGC)
(IGC
Profile), VCA, Inc. (NASDAQ: WOOF),
PetMed Express, Inc. (NASDAQ: PETS), Blue
Buffalo Pet Products, Inc. (NASDAQ: BUFF) and
IDEXX Laboratories, Inc. (NASDAQ: IDXX) are just
some of the companies blazing lucrative trails in the pet health
market and successfully tapping into its virtually limitless
opportunities.
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 (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
(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 (BUFF) approaches pet
health in another way, offering natural, healthy pet foods to help
prevent—and in some case 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
(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)
Editorial Sources:
(1) American Pet Products Association: http://nnw.fm/V66et
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