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GeoYoung, a pharmaceutical distribution company, is expanding its supply of veterinary drugs for the prevention and treatment of animal diseases. GeoYoung stated on the 14th that it handles a total of 210,000 animal drugs covering 180 types as of 2024. The number has been increasing each year from 100,000 in 2021 to 146,000 in 2022, and 186,000 in 2023.
GeoYoung is in charge of domestic logistics for a wide range of animal vaccines and therapeutic agents, from livestock disease medicines for pigs, chickens, and cattle to pet medicines. One of its major clients is ‘Ceva Sante Animale,’ one of the world’s top 5 animal pharmaceutical companies, which has expanded to 110 countries worldwide.
Animal vaccines, like human vaccines, are sensitive to changes in the external environment, and their effectiveness significantly decreases if stored outside the recommended temperature range. It is crucial to store and distribute these products under the correct temperature conditions required for each product.
To address this, GeoYoung distributes animal vaccines that need to be stored at various temperatures, including refrigerated (2-8°C), frozen (-20°C or lower), and ultra-low temperatures below -190°C. The company also strengthens its cold chain monitoring services by developing its IoT temperature and humidity sensors.
GeoYoung Chairman Cho Seon-hye stated, “In the future, we will continue to secure a variety of veterinary drugs for both livestock diseases and the healthy daily lives of pets to ensure stable and prompt supply.”
According to data from the Ministry of Agriculture, Food and Rural Affairs, the domestic market size of animal pharmaceuticals was estimated at 955.7 billion Korean won as of 2022. Although it currently accounts for only about 3% of the domestic human pharmaceutical market, it has grown by 75% since 2013, driven by factors such as the increase in pet population.