Petcare Innovation Summit: The latest trends and insights unleashed

At the forefront of pet wellness and innovation, the recent Petcare Innovation conference in Los Angeles gathered 450+ senior executives and 180+ startups, diving into the dynamic landscape of pet care. A key theme centered on transforming pet health and enhancing the pet parent experience, with new and established startups presenting their offerings as solutions to pet parent challenges.

Love for our pets resounded true throughout the conference, and there was a community-oriented spirit around finding solutions to today’s pet parenting and veterinary challenges. Dr. Molly McAllister of Mars Veterinary shared in one of the opening panels: 

Here’s a snapshot of the insightful discussions and trends that unfolded:

Saving more than money: the impact of pet support on our mental health

Pet heroes come in all shapes, sizes, and species. Lane Kent, CEO of Independence Pet Group, kicked off the summit with tales of unexpected pet heroes, including a goat as a service animal. Then, he showed a heartwarming video about a teenager overcoming social anxiety with his service dog.

These anecdotes brought to life the $672 million in saved mental health care costs and $22.7 billion savings in healthcare costs due to animals. Pets all around us are providing support whether in the form of therapy animals, service animals, emotional support animals, or simply a smiling grin and wagging tail to greet you.

The emerging market for pet wearables and the power of vet guidance

A panel discussed the shortage of veterinarians, which was a recurring topic among multiple sessions, with several solutions around improving the vet career experience and finding technology solutions to be additive to the vet.

Abhay Nayak of Zoetis challenged the crowd, “How do we increase the value proposition of the veterinary workforce and productivity so less effort goes into administration and focus more on the experience we deliver to the industry?”

Vet recommendations aren’t just advice; pet parents rely on their vets to inform their decisions and even dictate the products they choose. Michael Hutton of Circa Healthcare shared data and research that vet recommendations proved to be the most influential factor in pet care decisions. For retailers, this is important as a visit to the vet can trigger purchases from pet parents.

In another session about wearable tech and IoT devices, the conversation returned to pet health. Daniel Cheng of Nestle Purina, Jonathan Bensamoun of Fi, and Mark Florence of Brisby emphasized the importance of proactive care and pre-emptive health checks for pets and shared similar ideas about how connected pet health devices can empower pet parents to make better decisions for their pets.

Their insights revealed a growing market for pet wearables and technology, enhancing the pet health experience beyond traditional models. Cue the equivalent of the Apple Watch or Whoop for pets!

The unbreakable family bond: decoding the four pillars of human-animal connection

We all know that humans and animals have extraordinary bonds: 97% of pet owners consider pets family members–that’s no longer a differentiator. In a small roundtable conversation, Steven Feldman of HABRI and Nilpa Srivastava of Independence Pet Group underscored the importance of pet entrepreneurs understanding the four factors of the human-animal bond: attachment, humanization, commitment, and integration.

• Attachment is the emotional connection the owner feels to the pet

• Humanization is the attributes the owner projects onto the pet; some may know this as anthropomorphizing

• Commitment explains the sacrifices the owner is prepared to make to accommodate their pet

• Integration describes how much the pet is integrated into the owner’s day-to-day life

Essentially pet brands and their leaders should strive to deepen the human-animal bond with their offerings.

From creative solutions to the veterinary shortage to innovations in pet health technology, the Petcare Innovation event painted a vibrant picture of the evolving pet care landscape. As the industry continues to advance, these insights pave the way for a future where pet care companies continue to redefine the norm to provide better experiences for pets and their parents.