MaxPetZ's CEO shares insights by shaping the evolving landscape of pet

MaxPetZ Indias leading multispecialty veterinary chain emerged from the merger of Max Vets and PetZone aiming to revolutionize pet healthcare With a 70year legacy MaxPetZ addresses the fragmented industrys challenges emphasizing quality care advanced diagnostics and technological innovation The exclusive interview with Mr Arun Vasudevan CEO at MaxPetZ sheds light on the brands expansion plans maintaining a balance between growth and sustainable pet healthcare Additionally insights into the CEOs journey and the burgeoning opportunities for veterinary professionals highlight the industrys lucrativeness Looking ahead to 2024 the pet healthcarediagnostics industry is poised for significant growth aligning with rising pet ownership and evolving trends1 MaxPetZ has been a pioneer in the pet care and diagnostic industry Can you tell me about the motivation behind the brands inception and the merger between Maxvets and PetZoneMaxPetZ is Indias leading chain of multispecialty veterinary Hospitals amp clinics created by merging two of Indiarsquos pioneering and renowned multispecialty veterinary practices Max Vets based in DelhiNCR and Pet Zone based in MumbaiGoa 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 doctorowned and doctorled model for pet health care in IndiaWith Indiarsquos highly reputed veterinary doctors at the helm MaxPetZrsquos 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 were now equipped to provide the same quality care when you travel or are relocating with your pets across cities where were located Furthermore our expanded services treatments specialties and specialist doctors ensure your pets receive the best care no matter where you are2 As a brand with a rich legacy spanning 70 years what according to you is the need of the hour in this industryFrom 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 Indiarsquos most reliable tertiary healthcare provider We have consistently been the flag bearer of the industryrsquos 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 ndash whether it be in introducing new treatments procedures or diagnostically capabilitiesWith regards to the industry it has been and is extremely fragmented and there are several pain points from pet parentrsquos 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 underserved3 Could you tell us about the technology onboarded by MaxPetZ to help in enhanced patient diagnosis and recoveryMaxPetZ 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 stateoftheart medical infrastructure Eg 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 country1st Brain Surgery1st pacemaker implantation in a dog which is recognized by the Limca Book of Records1st to introduce hydrotherapy for dogs and have a fullfledged physiotherapy set up1st total hip replacementMost recently we introduced Electrochemotherapy a cuttingedge oncology treatment that was a privilege of select few pet wellness hubs in the US amp Europe This treatment helps in effectively managing the progression of tumor lesions which are crucial for cancer treatment4 Could you shed light on MaxPetZ expansion plansCurrently 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 growthrsquos sake5 Can you tell me a little about your journey as the CEO of MaxPetZ from being an angel investor till nowWell for starters I worked in the banking amp 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 exhilaratingAs 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 parentrsquos 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 Indiarsquos leading veterinarians We share similar values and were aligned in our goal to improve access to quality pet healthcare and wellness6 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 professionalsThe 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 consider7 How do you foresee 2024 for the pet healthcarediagnostics industry in IndiaBased on our conservative estimates the pet healthcare market is currently at about Rs 40004500 crores Looking ahead the pet population is expected to grow at 121437 CAGR over the next decade to 100 million pets Consequently along with other trends Irsquove 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