NEW YORK (October 28, 2013) – PetCareRx.com, a leading online pet pharmacy, conducted a study of over 1,100 pet parents that showed the rising costs of pet healthcare are dramatically influencing pet parents’ lives and lifestyles.
MOST PET PARENTS CONCERNED ABOUT ABILITY TO CARE FOR PETS GIVEN RISING COSTS
3 out of 4 of pet parents are concerned about the costs of pet healthcare and their ability to afford care for their pets. Over the last five years, the costs for caring for a dog have increased 15% to $1,649 a year while yearly cat care costs have jumped 28% to $1,271, according to the American Pet Products Association. During this same time, median US household income declined 7.5%.
HOW PET PARENTS ARE MANAGING WITH LESS
Pet parents are employing a variety of tactics to manage these costs— some of them dangerous—despite their desire to provide the best care. The most commonly cut expense is veterinary visits: 35% of pet parents are skipping vet visits in order to save money. Flea and tick protection, vaccinations, prescriptions, and heartworm protection are other areas pet parents are cutting back on, potentially exposing their pets to dangers—and large healthcare bills—down the line.
Nearly 1 in 5 pet parents have taken one of these potentially dangerous cost-cutting steps: delayed buying a prescription, used less of a prescription than recommended, or declined to buy a medication their pet was prescribed.
PET HEALTHCARE COSTS INCREASE 53% WHEN PET HAS A CHRONIC CONDITION
What happens when a pet is diagnosed with a chronic condition? Pet Healthonomics found that on average, pet parents spend $611 per year per pet on healthcare expenses like vet visits, prescriptions, flea and tick protection, and emergency care. Pet owners whose pets have a chronic condition spend an average of $935 per year per pet on healthcare.
SAVVIER WAYS TO SAVE
Facing the growing costs of pet healthcare, pet parents are highly motivated to find ways to get more value out of every dollar.
An encouraging 41% report they have saved by learning more about preventative health and wellness and 22% report investing in preventative methods and well pet visits.
Buying pet medications online is a popular way to save money—38% of pet households surveyed take advantage of the lower prices online. 76% Google their pet health related questions to find answers and guidance online. When they land on PetCareRx.com, pet parents can find over one thousand veterinarian- and expert-verified articles and medication guides, all available to help them learn more about caring for their pets.
PetCareRx’s mission is to add love to the world by enhancing the lives of pets and pet parents. Learn more at PetCareRx.com and PetPlus. Connect on Facebook. Follow us on Twitter @PetCareTweets and Pinterest.
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