Phibro Animal Health Corporation (PAHC) and Zomedica Corporation (ZOM) are two burgeoning players in the animal healthcare industry. PAHC offers antibacterials, anticoccidials, anthelmintics, vaccines, and mineral nutritional products to treat food animals, including poultry, swine, beef and dairy cattle, and aquaculture. In comparison, ZOM is a development stage veterinary diagnostics and pharmaceutical company that discovers, develops, and commercializes drugs, devices, and diagnostics for the health and wellness of companion animals.
Since the pandemic, the rising adoption of pets has increased the demand for quality pet food, viable medications, diagnostic devices, and other pet-friendly products. This has incentivized animal healthcare companies to upgrade their product portfolios and helped gain expanded market reach. The inelastic demand for pet food has increased investor attention in this recession-proof industry. The global animal health market is expected to grow at a 4.8% CAGR to reach $71.04 billion by 2028. So, both PAHC and ZOM should benefit substantially.
