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Merck reports Q1 GAAP net income up 57% at US$4.3B, with global sales up 50% to US$15.9B; sales growth favorably impacted by COVID-19 recovery as pharmaceutical sales increased 53% to US$14.1B, animal health sales up 4% at US$1.5B

The pet industry reaches a record US$123.6B in sales in 2021; US$50B was spent on pet food and treats, which was the highest spend category, while vet care and product sales were the second highest spend category at US$34.3B: American Pet Products Assn.

Elanco Animal Health, Ginkgo Bioworks launch animal health company BiomEdit to develop animal microbiome inspired products; livestock producers and vets call for new products to address antibiotic resistance, improve livestock sustainability, says company

Millennials make up the largest segment of pet owners at 32% and, along with Gen Z, are more apt to buy pet care items online via subscription than Gen X, Baby Boomers; older generations spend more for food and vet care: American Pet Products Assn.

The global veterinary point of care diagnostics market is expected to reach US$2.69B by 2028; growth driven by demand for rapid diagnostic products, initiatives, such as R&D, by market players and growing pet health awareness: ResearchandMarkets.com

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