The veterinary medicine market is booming.
Pet owners spent an estimated $72 billion on their pets in 2018, $15.5 billion of which was spent on medication for their furry family members.
Retail pharmacies can capture a share of this profitable market by offering veterinary compounding and medicine flavoring.
“It’s safe to say that 65 to 70 percent of the patients [pharmacies] are currently filling scripts for probably have a pet at home,” said Chris Cielewich, Vice President of FLAVORx. “If they’re not getting their prescription from you, then that’s an opportunity to grow your business.”
Sarah Henderson, a Certified Pharmacy Technician who has spent 18 years working in both chain and independent retail pharmacies, believes veterinary medicine is an excellent way for pharmacies to build relationships with their customers.
“I love getting to know the little things about my customers, such as their birthdays or the names of their children or grandchildren,” said Mrs. Henderson. “I even know their pets’ names because they’ve become regulars!”