[Edaily Reporter Kim Jinsoo ] As medical technology advances, the treatment of human diseases is rapidly evolving into the era of “personalized medicine” and “precision medicine.” This shift is now spreading to the field of veterinary medicine, where companion animals have become an integral part of families. Until recently, due to a lack of dedicated veterinary drugs and medical devices, human products were often used as-is for animals. However, this approach not only imposed a financial burden but also failed to adequately account for the animals’ body types and physiological characteristics. Recently, with the successive introduction of animal-specific treatments and medical devices, safer and more precise diagnosis and treatment have become possible. In particular, the “technology transfer” strategy—which extends technologies validated in human products to companion animals—is gaining momentum. It is attracting attention as a new growth model that reduces R&D risks and costs while increasing the potential for commercialization. E-Daily provides an in-depth analysis of the significance of this technology transfer strategy, which is driving the growth of the companion animal healthcare market, as well as the business opportunities it presents for companies. [Editor’s Note]

“Driven by the increase in households with pets, the growing number of older pets, and rising expectations among pet owners for medical services, veterinary medicine is rapidly shifting from a focus on disease treatment to one centered on prevention, early diagnosis, and personalized treatment, and the demand for precision medicine-based diagnostic and treatment technologies continues to rise.”

On the 16th, Jeong Byeong-gon, President of the Korea Animal Pharmaceutical Association, stated in an interview with E-Daily, “Veterinary medical devices include not only general medical equipment such as X-rays, CT scans, and MRIs, but also products for testing and diagnosing animal blood, feces, and other samples, and they are serving as a key growth engine driving technological innovation across the entire industry.”

Until now, companion animals often had to use pharmaceuticals and medical devices developed for humans as-is. This caused significant inconvenience in clinical settings because these products were not tailored to the animals’ individual characteristics or body sizes. However, following the trend in pharmaceuticals, “animal-specific” products are now emerging one after another in the medical device sector, propelling veterinary medical devices into a new growth market.

Market growth is also evident. According to market research firm Spherical Insights, the global veterinary medical device market is projected to grow from $4.1 billion in 2024 to $7.9 billion by 2035. The compound annual growth rate (CAGR) is 6.16%. Over the past five years, domestic sales of veterinary medical devices have increased by an average of 10.8% annually. In particular, the growth rate of export sales—at an average of 12.4% per year—has exceeded the domestic growth rate of 9.6%, indicating an expansion of overseas market penetration.

Chairman Jeong explained, “The use of advanced medical technologies—including imaging diagnostic equipment such as CT and MRI, as well as in vitro diagnostic (IVD) devices, genetic testing, molecular diagnostics, regenerative medicine, and cell therapy—is expanding. Recently, AI-based image interpretation and diagnostic assistance technologies are also being rapidly adopted.”

He added, “With the rise in chronic diseases among companion animals and growing demand for health management, the growth trend for precision medicine-related products—such as diagnostic devices and medical imaging equipment—is expected to continue.”

In fact, the top-selling products as of 2024—including immunochemical test reagents, animal monitoring devices, medical imaging storage and transmission systems, and electronic identification devices—were found to be primarily intended for companion animal care. This indicates that the focus of the domestic veterinary medical device market, which originally centered on disease management and disease control in the livestock industry, is shifting toward companion animals, with an emphasis on precision diagnosis and treatment.

Growth in medical devices related to livestock is also continuing steadily. While the companion animal sector is growing around individualized diagnosis and treatment, the livestock sector continues to expand in terms of diagnostic technologies and vaccine utilization aimed at disease surveillance, productivity improvement, and the efficient prevention and control of infectious diseases.

Chairman Jeong commented, “In the field of rapid diagnostic kits for animals, globally competitive Korean companies that export to over 130 countries are emerging, and pharmaceutical and medical device companies with human medical technologies are also entering the veterinary sector.” He added, “This is a positive sign showing that the domestic veterinary medical device industry is not only growing in scale but also gradually strengthening its global competitiveness.”

In particular, there has been a recent increase in cases utilizing technology transfer, such as applying technologies validated in humans to animals. Companies like Woori-N, Lisense Medical, Precision Bio, and Rimed are examples of firms that have vertically integrated technologies—already recognized for safety and efficacy in humans—into devices exclusively for animals. Many companies are taking note of this approach because it allows them to maximize profits while minimizing development risks.

Chairman Jeong explained, “Products that have already been recognized for their safety and efficacy as human medical devices can obtain veterinary approval by utilizing existing approval data; thus, devices such as X-rays and CT scanners can be approved for veterinary use without requiring large-scale additional data,” adding, “The regulatory burden felt by human medical device companies when entering the veterinary sector is relatively low.”

He emphasized that, since speed of market entry is a key competitive factor for innovative technologies, government policy support is essential for global competitiveness.

He noted, “The ‘Plan for the Development of the Veterinary Pharmaceutical Industry,’ announced by the government last April, includes measures to strengthen R&D, improve the licensing system, support exports, advance GMP standards, and train specialized personnel.” He added, “The global market is still dominated by leading companies in North America and Europe, driven by their technological capabilities and brand power. Therefore, our challenges include establishing a quality management system that meets international standards, developing the capacity to navigate overseas licensing processes, and accumulating global clinical data.”

Chairman Jeong went on to outline his plan to establish an “industrial ecosystem where veterinary pharmaceuticals and veterinary medical devices grow together” during his term.

Finally, he said, “With the expansion of the pet market, the government’s industrial development policies, and the revision of relevant laws and regulations, the industry is reaching a new turning point for growth. We will expand the association’s role by strengthening our function as a bridge between the government and the industry, ensuring that our sector establishes itself as a future growth industry recognized in the global market.”