An animal care exchange traded fund (ETF) could be an idea whose time has come.

Anyone who has a pet is all-too-familiar with the vet and the worry that comes with each visit: What’s wrong with my animal? How much is this going to cost? And many people will spend whatever it takes to get their furry friend back to his old spunky self. Why shouldn’t pet lovers be allowed to capitalize on that desire, too?

Mike Havrilla over at the MikeHav Market Blog posts his idea for an animal care ETF, and it seems like a great way to capture this industry’s growing performance.

In the United States, about 63% of homes have a pet. Of those homes, most of them have more than one furbaby, according to Steve Dale for USA Weekend. Domestically, pet spending for 2008 is estimated to be about $43.4 billion, up from $23 billion in 1998. Food will make up most of the total at $16.9 billion, followed by veterinary care at $10.1 billion, according to the American Pet Products Manufacturers Association.

Additionally, pet insurance is a growing industry. Beginning in 2000, the industry began to grow at a clip of 40% to 50% a year. By 2004, it reached $120 million, up from a mere $15 million in 1998.

Since there’s no animal care ETF, you can save a few bucks by tackling some home remedies for your animals instead of taking them to be poked and prodded after every sneeze and scratch:

• Benadryl and Gold Bond Medicated Powder is great for relieving itchiness.
• A mix of 50% Listerine (it has to be Listerine, nothing else) and 50% water in a spray bottle is an excellent treatment for hot spots.
• Is your dog a little barfy or does he have a case of the runs? There’s no need to run out and get special food - rice is a great stomach calmer.