The animal health market is gradually gaining traction across the globe. That’s due to increased government focus on averting animal disease outbreaks benefits the animal health sector and because of rapid technological advancements and increasing research and development activities in the veterinary pharmaceutical industry. According to a Transparency Market Research report, the global animal healthcare market is expected to reach $63.2% billion by 2028. Therefore, both Zoetis Inc. (ZTS) and Zomedica Corp. (ZOM) should benefit.
ZTS discovers, develops, manufactures, and commercializes animal health medicines, vaccines, and diagnostic products internationally. It commercializes products primarily across species, including livestock and companion animals. On the other hand, ZOM is a veterinary health company that focuses on clinical veterinarians' unmet needs by developing products for companion animals. The company engages in the development and commercialization of TRUFORMA.
