Demand for Animal Health Technology is being driven by five primary tailwinds: (1) a surging global pet population, (2) veterinary labor shortages, (3) increases in food demand, regulation, and the prevalence of animal-borne illnesses, (4) a post-COVID shift in sentiment towards remote telemedicine and mobile consultations, and (5) the larger presence of efficiency and growth-minded veterinary clinic consolidators. These tailwinds are both driving demand for, and shaping the development of, new technologies.
The Animal Health Technology Industry is currently led by diversified animal health companies where technology represents a small piece of their overall business, and there is no pure-play software 10,000 lb. gorilla. This combination of market dynamics has created a significant opportunity for growth stage technology companies to rapidly win market share and emerge as market leaders. AGC’s Animal Health Technology landscape aims to capture platforms where software is a primary component, oftentimes deployed alongside connected devices and/or tech-enabled services. It includes 151 private companies and 6 sub-$1B market cap public companies across three primary market segments: Veterinary, Livestock, and Consumer.
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