Daijiworld Media Network – Seoul

Seoul, Apr 2: South Korea has unveiled ambitious plans to expand its animal medicine market to a staggering $2.7 billion by 2035, as part of a broader strategy to strengthen the country’s veterinary pharmaceutical industry and enhance animal health standards.

According to the Ministry of Agriculture, Food and Rural Affairs, the government intends to boost research and development in veterinary drugs, improve regulatory frameworks, and support domestic companies in expanding their reach into international markets.

The initiative comes amid growing demand for animal health products, fuelled by a rising number of pet owners and increasing awareness about livestock health. Officials noted that ensuring the safety and efficacy of veterinary medicines would be a top priority.

“Innovation and global competitiveness are essential for the growth of our animal medicine sector. We aim to provide comprehensive support to manufacturers and researchers to meet international standards,” a ministry official stated.

The government has also pledged to facilitate partnerships between academia, research institutions, and the private sector to drive advancements in veterinary technology. Additionally, measures will be taken to streamline the approval process for new veterinary products to encourage innovation.

Experts have welcomed the move, noting that the initiative could significantly enhance South Korea’s position in the global animal healthcare market. However, they also emphasized the importance of maintaining stringent quality control to ensure the safety of both pets and livestock.

The ambitious target of $2.7 billion by 2035 underscores South Korea’s commitment to developing a robust and sustainable animal medicine industry that meets both domestic and international needs.