LAS VEGAS -- For a lot of people their pets are more than just animals. They have become family members. Americans spend billions of dollars each year on caring for their pets.
Just how much the pet industry has grown can be seen at the Western Veterinary Conference going on this week at Mandalay Bay. Vendors are showing off all kinds of items from MRI machines to cremation services.
Last year, around $48 billion was spent on pets. Veterinarian Dr. Dennis McCurnin says the culture has changed a lot over the past 30 to 40 years. He says more people are giving their pets the same consideration they would give their own children.
"The small animal and pet industry is almost recession proof because most pets are part of the family. They are family members. People are going to do what they have to do to try and pay for the care the pet needs," McCurnin said.
That is why more and more people are turning to pet health insurance. The growing industry now takes in more than $300 million a year.
"Pet insurance really offers the opportunity for people to provide high quality care for their pets and not have to make difficult decisions when they are at the veterinarian and in an emergency situation," Chris Middleton with Pets Best Insurance said.
Pet health insurance works a lot like health insurance for humans. There is coverage for preventive care, deductibles that have to be met and age considerations. It is a price that pet owners are willing to pay.
"I think well, if my daughter broke her arm what would I do? Would I just put her down? No!" pet owner Suzanne Naki said.
