NEW YORK, NY / ACCESSWIRE / January 3, 2023 / Emergent Health Corp. (OTC PINK:EMGE) announces it subsidiary PharmaZu, Inc. (“PharmaZu”), a pure play, e-commerce products and service provider focused on the pet pharmacy, vet telehealth and pet wellness businesses has launched its e-commerce online platform entering the estimated $8.5 billion-dollar online pet medicine industry.
Emergent Health Corp., Tuesday, January 3, 2023, Press release picture
PharmaZu believes it is poised to emerge as one of the leading firms in the multi-billion-dollar online pet medicine industry. PharmaZu’s strategy to attract and maintain customers is to provide online convenience, a well-stocked inventory, exceptional customer service staffed by passionate pet owners, a loyalty program offering rewards, discounts and other special incentives designed to encourage repeat business and make repeat purchases easy with an auto ship feature.
The global pet OTC medication market is estimated to reach US$ 8.5 Billion in 2022 and is projected to reach US$ 13.2 Billion by 2032, with demand surging at a CAGR of 4.5% from 2022 to 2032. Share of pet OTC medication market in the global pet care market is expected to be approximately 3-5%. The report can be viewed in its entirety at Future Market Insights.
The rising awareness about pet health and diseases are leading to an increase in demand for OTC pet medications. The availability of OTC drugs at competitive prices and through various distribution outlets is contributing to a rise in sales. Among the various medications, the demand is high for flea & tick and pain relief and arthritis products. This is due to the fact that flea allergy, dermatitis and lyme disease are most commonly occurring diseases in pets, which are transmitted by fleas and ticks. In the global OTC/Supplies segment, USA, Canada, Japan, China and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$32.2 Billion in the year 2020 will reach a projected size of US$51.3 Billion by 2026. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.2 Billion by the year 2026, while Latin America will expand at a 6.8% CAGR through the analysis period. For more information, please see OTC Pet Medications.
Adam Brooks, CEO of PharmaZu stated” Since before the pandemic, the dedicated development teams of PharmaZu and Fusion Specialty Pharmacy have been focused and determined to build the “best in class” Pet and Pet owner community where Pet owners can come to find products and solutions for all their pet health needs. Now, under the guidance and direction of Jim Morrison, we’ve started to realize and shortly to monetize what we’ve worked so hard to achieve.”
Jim Morrison, Former L’Oréal President and the new full time CEO of Emergent stated, “PharmaZu has been in the works for three years now. Adam Brooks has built something that will ultimately become a “pet community”. A ‘one-stop’ shop for all things “pet”. The game plan is to start with our ‘Pet pharmacy’ and scale from there. PharmaZu allows Emergent to manifest its promise, ‘We make all natural, healthy, wholistic …….