Being an innovative company is the focus of all work carried out by MSD Saúde Animal, not only in relation to its products, but also in what it can do internally to build connections, contribute to individual and collective growth, and boost the market.
In the first months of this year, the Instituto Pet Brasil (IPB) announced that the pet sector's revenue grew by 16.4% in 2022, reaching R$ 60.2 billion. The National Union of the Animal Health Products Industry (Sindan) predicts a growing movement: 15.8% in 2023; and 15% for 2024. It is not possible to talk about the rise of this segment without mentioning the relationship with the impact of innovation and technology in the companion animal market.
The social isolation of 2020-2021 led owners to live with their animals 24 hours a day, strengthening bonds and making them even more part of the family. This increased affection and observation of their needs made guardians increasingly willing to offer the best in food, health and well-being. This change was not only related to our relationship with pets at home, but also generated a giant movement in the market. Even companies that were not in the sector invested in launching products for companion animals and, those who were already involved, accelerated their business even further. It was certainly a milestone in the pet sector. Here at MSD Saúde Animal we have always followed the path of innovation. The company was the first and only one to launch, for example, an insulin pen for diabetic pets, and an anti-flea and tick product with protection for up to twelve weeks.
More than medicines, in recent years we have invested in technological solutions. At the end of 2021, we brought an innovative line exclusively for pets, Sure PetCare. There are several products for dogs and cats that change the way pets are cared for, bringing data monitoring to map their habits and behaviors throughout the day, such as when and how much they eat and the pet's entry and exit from inside the room. House. Petnology, as we call the technology linked to pet care, is already a reality.
In 2020, MSD Saúde Animal leveraged its digital transformation process and evolution of its business model with the creation of the Strategy and Innovation department. One of its objectives is to develop new solutions that meet the most diverse challenges and expectations of our customers, positively impacting society. And we believe that in these three years we have had great results and we are on the right path!
However, it is important to emphasize that innovation is not just related to technology, or exclusively to the creation of new products. It goes much further! Larry Keeley, co-author of the book “Ten Types of Innovation”, says that technology represents only 2% to 5% of the great innovation equation. Curious, isn't it? In fact, the concept involves everything from the creation of new business models to the generation and implementation of ideas aimed at transforming internal processes. One of my favorite definitions of Innovation is “doing something different that generates a better result”. Simple as that. Here at MSD Saúde Animal we work to be an innovative company, not only for its products, but also for what we can do internally to build connections, contribute to individual and collective growth and boost the market. All of this goes together.
The pet market will never be the same again, and that's good! Growth expands the innovation capacity of brands and the tendency is to further increase the quality of life of our pets. Everyone wins: economy, guardians and animals! Who knows, maybe one day we'll figure out how to make them live for another 50 years, right? What pet parent has never wanted this? With Petnology I hope we are not too far away from making this dream come true.
