GROWTH INDUSTRY – RECESSION RESISTANT
The pet industry is growing at a healthy rate and is predicted to continue. People are willing to spend more on their pets than ever before and the desire for veterinary treatment options on par with humans is helping to drive this demand. According to Packaged Facts, data from the last three recessions has shown that the pet industry is resistant to recession, making Lifescient an attractive investment opportunity. The average amount spent on veterinary visits per year, per household increased from $335 to $801 between 2017 and 2021. 70% of US households own a pet, which equates to 90 million homes.