Westbrook, Maine-based IDEXX Laboratories, Inc. (IDXX) and Elanco Animal Health Incorporated (ELAN) in Greenfield, Ind., are two prominent players in the veterinary market. IDXX manufactures and distributes products and provides services for the companion animal, veterinary, livestock and poultry, dairy, and water testing markets. It also sells portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market. In comparison, ELAN develops and manufactures products for companion and food animals, and sells them to third-party distributors, veterinarians, farm animal producers, and dairy farmers, and provides aquaculture operations.
Rising pet adoptions amid remote lifestyles, and with it increased spending on pet food, care, entertainment, and grooming have helped the pet care industry achieve solid growth. Furthermore, the development of efficient and quick diagnostic devices, viable drugs and vaccines, and ancillary services boosted the industry’s performance.
