Survey results conducted by the American Pet Products Association estimates that Americans spent over $10.9 billion on medical care for their pets in 2008. Considering the current economic recession in the American economy this statistic is very impressive. Many veterinarians report that medical care for a family’s pet is a top concern for them regardless of what impact the cost may have on their monthly budget.
The attitude among many pet owners seems to be that they will not cut back on health care for their pets despite the current economic pressures that they are under.
Breakdown of money spent on pets for 2008 includes:
• Food – $16.9 Billion
• Veterinary care – $10.9 Billion
• Supplies and OTC medicine – $10.3 Billion
• Animal purchases – $2.1 Billion
• Pet services: grooming and boarding – $3.2 Billion