Predictions for the Animal Health Industry: Insight from Tony Thomas
Cryoport Systems’ support of the animal health industry helps keep both people and animals safe around the world. Our customized care and compliant solutions have continued to help our clients care for both livestock and companion animals for well over a decade. But today, the industry looks different than it did even a few years ago. With changes in the market brought on by COVID-19 as well as breakthroughs in animal health technology, the emphasis on compliant solutions in this industry continues to be of great importance.
With insight from industry expert Tony Thomas, Cryoport Systems’ Executive Director of Business Development for Animal Health, we’re looking back on the state of the animal health industry within the last few years and using our specific expertise to predict what’s ahead for 2023 and the years to come.
Where We’ve Been:
The COVID-19 pandemic between 2020 and 2021 caused significant, previously unseen shifts within the animal health industry. Specifically, there was major growth in the therapy sectors for companion animals.
“The beginning of the shutdown found people being home more which in turn led to a newfound appreciation of their pets,” said Tony. “People became more invested in the quality of their pets’ lives. This fueled the industries shift toward companion animals where the advances in human biopharma are becoming more accessible for pets.”
Tony’s insight concisely articulates the newfound direction of the market to come. According to Animalytix, a leading data analysis resource for the animal health industry, “Pet ownership has jumped significantly in the past three decades, with 70% of U.S. households owning a pet as of last year (2022). Furthermore, 85% of dog owners and 76% of cat owners consider their pets a member of the family. Millennials make up the biggest percentage of pet owners at 32%, followed by baby boomers at 27% and Generation X at 24%.”
Additionally, the livestock sector faced many new challenges during the pandemic as consumer behavior changed, supply chains were tested, and labor became a concern for many producers. “The industry has evolved quickly and is aggressively working to drive productivity and efficiency necessary to feed a growing population, all while keeping an eye toward sustainability and improving biosecurity,” stated Tony.
Where We Are:
Now as 2023 is fast underway, the rate of growth for this year is already predicted to outpace 2022. “Based on what we‘re seeing, the growth rate for 2023 should be around 5-7% compared to the 1-2% for 2022,” said Tony.
Growth in the market reflects wins for many animal health organizations. However, there are still challenges facing the industry today for those serving the animal health markets. “The detection, elimination, and prevention of animal diseases is vital for both animal and human health. The ability to track and trace biological materials is a key component to many biosecurity programs,” Tony said.
Cryoport Systems places great care in our ability to combat challenges within the animal health industry. When it comes to delivering animal vaccines or animal genetic material, our emphasis on security throughout the shipping process equally matches the importance our clients place on their animals’ safety. Specifically, we mitigate risk through:
- Chain of Compliance® – The set of complete processes that Cryoport Systems uses to provide full traceability of the equipment and real-time data on each shipment’s transport process.
- Veri-Clean® – The first and only validated cleaning and disinfection process that virtually eliminates the risk of cross-contamination by decontaminating all our shippers and stainless-steel accessories post-shipment.
- Expanded Temperature Bands – Our method of shipping that seamlessly integrates Cryoport’s expertise in packaging, informatics, and logistics for the most secure transport of valuable commodities kept at temperatures ranging from 2°C to cryogenic (-190°C)
“A big part of what we do is mitigate risk,” Tony said. “We can help organizations quickly and compliantly ship their life-saving or life-giving payload across the globe. The peace of mind we give our clients makes all the difference.”
Where We’re Going:
As we look to the years to come, we can expect the animal health industry to continue its growth as illustrated in a recent report by IHS Markit and Stonehaven Consulting. “The opportunity for growth in the companion animal space is clear as the sector begins to look more like the biopharma world…This has led to the increasing importance of and prevalence of biologics and therapeutics in the animal health industry.”
This widespread growth will affect both livestock and companion animals. When it comes to the most notable areas of growth, Tony shared, “While inflation, foreign animal disease, and regulatory demands are challenges and risks that must be considered, the opportunities for growth in the livestock and companion animal markets are clear. As the livestock sector continues to embrace technologies necessary to realize the productivity, efficiency, and sustainability vital to feeding the global population, the need for advanced cold chain logistics will continue to increase.”
“Cryoport Systems has the capacity to personalize our assets to our clients,” stated Tony. “When it comes to temperature regulations, overall transparency, data management – we’re already the leaders in these compliant shipping practices. We match the industry in our ability to grow and evolve with and alongside our clients.”
For more information on our supply chain management solutions for the animal health industry, reach out to Tony Thomas at email@example.com