The Opportunity Petshealth is positioned to aggressively take advantage of an untapped market, the companion pet health insurance industry. This industry has tremendous growth potential as proven in Europe, Canada and other countries. Petshealth is highly competitive and offers low cost to the consumer. Petshealth's plans also allow the consumer to choose their own veterinarian, and added a unique service provided by Petshealth. The United States has the largest population of companion animals in the world.
Pets occupy an important place in more than half of the U.S. households.
Licensed dogs and cats alone, number more than 112 million in this country alone, not including Canada. As a market, owners of companion pets number approximately 54.8 million households, and this figure is growing. Each year consumers spend in this market more than 20.3 billion for the care of their pets alone. More and more Americans consider their pets as part of their family. With growing frequency, young professionals, childless couples, empty nesters and senior citizens report that they depend on their pets for companionship and emotional bonding.