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PRISM MarketView Launches Index Tracking $350B Pet Care Innovation Boom

PRISM MarketView launches the PRISM PetCare Index to track innovative companies in the global pet care sector, projected to exceed $350B. Features Elanco, Chewy, Trupanion.

This news matters because it highlights a fundamental shift in the $350+ billion pet care industry, reflecting deeper societal changes where pets are now considered family members. This 'humanization' of pets drives demand beyond basic food and supplies toward premium nutrition, advanced healthcare, insurance, and digital services like tele-veterinary care. For consumers, this means more options and potentially better care for their pets, but also higher costs and the need to navigate an increasingly complex market. For investors and businesses, the index provides a critical roadmap to a high-growth sector with resilient, subscription-based revenue models. The pet care market's expansion mirrors trends in human healthcare and consumer goods, indicating long-term economic significance and innovation opportunities in areas like pharmaceuticals, e-commerce, and insurance, making it a bellwether for broader consumer and technological trends.