I very recently joined Brakke Consulting to help the company expand into Latin America – and this is my first Viewpoint. I know most of you are based in the US, but I would think that many of you have traveled to Brazil and perhaps know a little about Latin America’s largest animal health market.
While The Brazilian animal health market has always been recognized for its dynamism in the farm animal segment, the pet market continues to emerge as one of the most significant ones in the world. According to Emilio Carlos Salani, EVP of Sindan, Brazil’s animal health industry association, even with the economic difficulties caused by a pandemic, the country saw a 30% increase in companion animal ownership in 2021. He feels that this expansion in pet ownership is very much related to the commitment of pet owners to offer the best in terms of food and health for their pets.
The growth in ownership of pets has directly impacted the veterinary industry and Sindan’s Market Information Commission forecasts growth in the companion animal veterinary segment by 16% for 2023 and 15% for 2024. So, there is no crisis in the Brazilian pet market! Always known for being an important market for parasiticide products, the Brazilian market is now open to innovations from around the world. The veterinary profession is rapidly developing in terms of veterinary specialties and sophistication and if you’d like to know more about the opportunities Brazil offers to animal health companies, we can help.
Mauri Ronan Moreira, DVM, MBA
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