Pet technology products—i.e., smart collars, litter boxes, and feeders—are becoming more popular, mirroring trendlines in human health technology. This increased focus on personalized pet health and nutrition that leverages AI and data presents attractive investment opportunities.
The following report by William Blair and FTI Consulting discusses what’s behind growth in the space and what’s ahead for the sector. Key takeaways include:
- With pets increasingly seen as family, owners are exploring ways to monitor and care for them. This is especially pronounced among Gen Z and Gen Alpha pet owners.
- The sector is moving toward personalized, preventative care, powered by AI and a connected data ecosystem. Preventative care is also a growing focus of veterinary medicine.
- With pet tech’s adoption reflecting that of human health technology, products will likely enable data sharing and personalized insights, offering greater long-term value.
