Americans love their pets. Pet ownership has been steadily rising since the 1980s and an estimated 68% of American households now have at least one pet. The rise in pet ownership has coincided with a pet-spending boom, which has shown Americans have no problem spending on their furry companions. In 2016 alone, Americans spent $66.75 billion on their pets.
Statistics show that the growth in pet ownership around the world is experiencing a major uptick as well. According to Global Market Insights, the global animal healthcare market is estimated to be worth $172.5 billion USD by 2025. This compares to a global market value of $129.9 billion USD in 2018. The market research firm cites increasing pet adoption among global elderly population, more government support around the globe for pet care, and surging demand for pet care and services in developed regions around the world.
As global pet ownership continues to rise, along with associated pet healthcare costs, here are two microcap companies that are positioned for long-term growth in the industry:
PetVivo Holdings, Inc. (OTCQB:PETV)
PetVivo Holdings, Inc. (OTCQB:PETV) is a Minnesota-based company focused on the development, licensing, and commercialization of medical devices and therapeutics for pets. The company looks to leverage proprietary human bio-materials and medical devices in order to commercialize pet treatments.
Being that traditional pharmaceutical development for human consumption can take years and require hefty capital requirements, PetVivo sees an opportunity to in-license proprietary human medical devices and materials in order to accelerate revenues from veterinary services.
PetVivo’s flagship product, Kush, is a vet medical device that is designed to help reinforce articulating cartilage tissue in order to prevent or treat osteoarthritis. “This system uses an intra-articular injection of non-dissolving, cartilage-like particles to enhance the force cushioning function of the synovial fluid, first developed and tested for equine and canine animals,” according to PetVivo.
The device particles are patent-protected and are 75-120 micron in breadth. The particles feature strong memory shaping and seek to mimic micro sponges within the synovial fluid.
Overall, arthritis and aging joints are a common problem for all types of pets. PetVivo’s Kush product aims to be a more formidable solution to keep pets moving and active.
Better Choice Company, Inc. (OTCQB:BTTR)
Better Choice Company, Inc. (OTCQB:BTTR) is a pet health and wellness company that focuses on the research, development and sale of alternative, nutrition-focused food for dogs and cats. The company operates its flagship brands, Halo and TruDog, which offer a wide-range of food types: sustainable kibble, whole meat-based canned food, raw-diet dog food, treats, and more. Other portfolio brands include: Rawgo!, TruCat, and Orapup.
Along with pet health care, pet food and nutrition continue to be among the best-performing subsegments of the global pet-care industry. In recent years, the industry has increasingly turning to grain-free and raw-diet food options, in effort to give furry companions more nutrition and wellness.
On June 16, 2020, Better Choice Company announced a partnership with iHeartMedia (NASDAQ:IHRT) to help support national animal shelters that have been impacted by the COVID-19 outbreak. The partnership says they will donate $100,000 in cash and $100,000 worth of pet products to animal shelters in Atlanta, Phoenix, Indianapolis, Los Angeles, Long Island, and San Francisco.
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