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Sunday, Aug 11
Wal-Mart among those spotting opportunity in pet health insurance
- Wal-Mart (WMT), outdoor retailer Cabela's (CAB) and start-ups are among those that offer pet insurance, an industry that's worth almost $500M.
- With spending on vet care forecast to rise 4% this year to $14.2B, and just 1% of the nation's 160M cats and dogs insured, there's plenty of room for growth. The annual rate is 13%.
- Even some employers offer animal healthcare as a perk, including one-third of Fortune 500 companies.
- Animal pharmaceutical providers that could benefit include Zoetis (ZTS), Pfizer (PFE), Merck (MRK), MWI Veterinary Supply (MWIV) and VCA Antech (WOOF).