The pet healthcare/diagnostics industry is poised for significant growth, aligning with rising pet ownership and evolving trends.
Mr Arun Vasudevan
MaxPetZ, India's leading multi-specialty veterinary chain, emerged from the merger of Max Vets and PetZone, aiming to revolutionize pet healthcare. With a 70-year legacy, MaxPetZ addresses the fragmented industry's challenges, emphasizing quality care, advanced diagnostics, and technological innovation. The exclusive interview with Mr Arun Vasudevan, CEO at MaxPetZ sheds light on the brand's expansion plans, maintaining a balance between growth and sustainable pet healthcare. Additionally, insights into the CEO's journey and the burgeoning opportunities for veterinary professionals highlight the industry's lucrativeness. Looking ahead to 2024, the pet healthcare/diagnostics industry is poised for significant growth, aligning with rising pet ownership and evolving trends.
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1. MaxPetZ has been a pioneer in the pet care and diagnostic industry. Can you tell me about the motivation behind the brand's inception and the merger between Maxvets and PetZone?
MaxPetZ is India's leading chain of multi-specialty veterinary Hospitals & clinics created by merging two of India’s pioneering and renowned multi-specialty veterinary practices- Max Vets based in Delhi/NCR and Pet Zone based in Mumbai/Goa. The idea of MaxPetZ was conceived with a vision to transform the pet healthcare industry in India. The inspiration behind this venture dates to 2018, when we envisioned scaling up and expanding through a doctor-owned and doctor-led model for pet health care in India.
With India’s highly reputed veterinary doctors at the helm, MaxPetZ’s mission is to provide compassionate care and exceptional medicine to improve access to quality pet health care and wellness to pet parents across the nation. Our founding doctors have extensive experience ranging from 15 -50 years and cover multiple specialties. Together, we're now equipped to provide the same quality care when you travel or are relocating with your pets across cities where we're located. Furthermore, our expanded services, treatments, specialties, and specialist doctors ensure your pets receive the best care, no matter where you are.
2. As a brand with a rich legacy spanning 70 years, what according to you is the need of the hour in this industry?
From humble origins of being a single clinical practice originally established in 1952, we have developed a reputation over 70 years for quality, professional care with a compassionate touch to becoming India’s most reliable tertiary healthcare provider. We have consistently been the flag bearer of the industry’s leading practices through the launch of super specialized surgical procedures and advanced diagnostic capabilities. This is a testament not just to our sustained commitment but also our concerted focus on innovation – whether it be in introducing new treatments/ procedures or diagnostically capabilities.
With regards to the industry, it has been and is extremely fragmented, and there are several pain points from pet parent’s perspective such as limited access and proximity to quality care, low efficacy treatments/ therapies and limited awareness of available pet health care treatments options. Furthermore, there has been a paradigm shift in human and companion animal relationships; from being pet owners to pet parents. This change along with other secular trends such as rising incomes, rapid urbanization, delayed parenthood, and rising awareness of treatment options has been positive for the pet health care sector. So, in a sense pet health care is progressing and is now more akin to pediatric care both in the perception and expectation of pet parents. As a result, there is a strong demand for quality veterinary care across the country which is underserved.
3. Could you tell us about the technology onboarded by MaxPetZ to help in enhanced patient diagnosis and recovery?
MaxPetZ is one of the most trusted and widely recognized pet healthcare platforms in India, built on the back of consistent, compassionate treatment of pets, and client education. We have over the decades consistently strived to introduce new treatments/ procedures complemented by state-of-the-art medical infrastructure. E.g., we are one of three veterinary institutions in the country with CT scans. We have been pioneers in pet health care since 1952 and have been a trendsetter since. Just to name a few of the several first in the country;
- 1st Brain Surgery
- 1st pacemaker implantation in a dog which is recognized by the Limca Book of Records
- 1st to introduce hydrotherapy for dogs and have a full-fledged physiotherapy set up
- 1st total hip replacement
- Most recently we introduced Electrochemotherapy, a cutting-edge oncology treatment that was a privilege of select few pet wellness hubs in the US & Europe- This treatment helps in effectively managing the progression of tumor lesions which are crucial for cancer treatment
4. Could you shed light on MaxPetZ expansion plans?
Currently, we are present across New Delhi/ NCR, Mumbai, Goa, Jaipur, Mangalore and Lucknow. We have an ambitious vision to improve access to quality pet healthcare and wellness. So, we do intend to augment our services and presence in existing geographies as well as enter new markets in Tier 1 and Tier 2 cities. We are crystal clear, that we will be prudent in our expansion plans as the cornerstone of our success is the ability to provide quality pet health care consistently and sustainability. This necessitates having a pipeline of trained vets, paravets and support infrastructure. To do this, our senior vets continuously mentor and coach junior vets across specialties that they are interested in and provide them with a career path. In other words, we do not intend just to expand just for growth’s sake.
5. Can you tell me a little about your journey as the CEO of MaxPetZ from being an angel investor till now?
Well, for starters I worked in the banking & financial services before deciding to take the plunge into pet health care. During that time, I was fortunate to have come across several young founders across sectors who were passionate in bringing their ideas to life and building category defining businesses. Some of them reached out to me on issues they were facing such as market sizing, product market fit, go to market strategies, fund raising etc. So, I started advising and investing which I found to be mentally stimulating and exhilarating.
As a pet parent, I have regular interactions with vets as a customer. So, the veterinary sector has always been close to my heart. Moreover, I realized there are several pain points that pet parent’s face especially concerning quality secondary and tertiary care. So, I was keen on solving these. But to do this, like in any other sector domain- expertise is critical. Again, I was fortunate to have been introduced to some of India’s leading veterinarians. We share similar values and were aligned in our goal to improve access to quality pet healthcare and wellness.
6. Since you have been in the industry and have mentored some startups as well, could you elaborate on how lucrative is the veterinary field as a career in India for students and growing professionals?
The pet care industry is at an inflexion point driven by a significant rise in the number of pet parents making it a huge market opportunity. Thus, the demand for vets is strong and will only increase as the sector grows and matures. This demand also results in rising compensation and this trend will continue. Furthermore, the demand for specialists will also grow. So, for students who are enthusiastic about treating and healing companion animals, there will be a lot of opportunities. Consequently, from a career perspective, this is another great option to consider
7. How do you foresee 2024 for the pet healthcare/diagnostics industry in India?
Based on our conservative estimates, the pet healthcare market is currently at about Rs 4,000-4,500 crores. Looking ahead, the pet population is expected to grow at 12-14% CAGR over the next decade to 100 million pets. Consequently, along with other trends I’ve mentioned, the tailwinds for pet health care is robust and is expected to witness a high growth trajectory. We expect the pet healthcare market to more than double over the next five years.
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