Wal-Mart among those spotting opportunity in pet health insurance

|About: Wal-Mart Stores, Inc. (WMT)|By:, SA News Editor

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).