Zoetis Inc. SWOT and PESTLE Analysis

Strength

1. The company produces vaccines and various drugs for a wide variety of species: The company produces a wide variety of vaccines and other drugs and medicines in the animal health segment. Zoetis has launched various first-in-class/ best-in-class products in recent year which represent product lifestyle innovation. Zoetis launched Apoquel which is the first Janus Kinase inhibitor for use in vet medicine approved for the control of pruritus and atopic dermatitis in dogs. The product has been launched in key markets such as the US, Europe, Brazil, Asia and Australia since 2014. Other key products include Core EQ Innovator- the first and only vaccine for horses to contain five core disease antigens, Cytopoint- the first canine monoclonal antibody to reduce atopic dermatitis, Fostera PCV MH- to help protect pigs from porcine circovirus-associated disease and enzootic pneumonia, Librela- injectable therapy for osteoarthritis pain in dogs, Poulvac Procerta HVT-ND, ProHeart 12, Simparica, Simparico Trio, Solensia and Vanguard. Zoetis follows a ‘first to know and fast to market’ operating philosophy, pursuing the development of new vaccines and medicines for emerging disease before competitors.

2. Global leader in the animal health industry with high and stable revenues: Zoetis Inc. is a 70-year-old established global leader in the health animal industries, with a focus on development, manufacturing and commercialization of vaccines, medicines, diagnostic products, genetic tests, biodevices and precision livestock farming technology. The company has a diversified business, commercializing products across 8 core species of animals, namely cattle, swine, poultry, dogs, cats, horses and other companion animals as well as fish, sheep and other livestock. Leading manufacturers of parasiticides, medicated feed additives, dermatological and other medicinal goods, vaccinations, anti-infectives, and animal health diagnostics include Zoetis. The company receives its largest revenue share from products for companion animals (65%) and cattle (18%). Within products, the largest revenue share comes from vaccines (21%), Anti-infectives (14%), Parasiticides (23%) and Dermatology (17%). Zoetis runs operations in 15+ countries around the world, with major revenue stationed in the US (54%) and 46% of revenue from international operations. China, Brazil, Canada, Australia, UK, Japan and Germany make up only 2-4% of the revenues. However, emerging markets and other developed markets make up 15% of the revenue. As compared to other business which experienced huge losses in 2020 due to pandemic, Zoetis experienced an increase in revenues. The company also works in tandem with the leading pharma and medicine producer Pfizer, for intellectual property and R&D.

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Weakness

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Opportunity

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Threat

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Political

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Economic

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Social

1. Increased expenditure on care for pets among owners: The trend of pet humanization and ownership is increasing globally, especially in developed countries. Animals such as dogs, cats, rabbits, birds, ferrets and hamsters are increasingly being adopted as pets by individuals and families alike. The participation of animals such as dogs in professional spaces such as police, military and therapy are also increasing in many countries. More than 44% of households in the U.S. own dogs and more than 35% own cats according to the statistics of the American Pet Products Association. As the number of pets continues to increase the demand for their healthcare is subsequently rising. Furthermore, the growing emphasis on animal healthcare coupled with the introduction of government mandates pertaining to animal health will continue to fuel the growth of the animal health industry. Pet owners are increasing pet expenditures on essential and non-essential goods. However, health and treatment costs are being incurred by pet owners as well. Zoetis Inc. has seen an increase in the percentage of revenue from the companion animal’s segment. The share of revenue from companion animal was 51% in 2019, which grew to 61% in 2021 and 65% in 2022.The global market especially in developed countries is increasing for animal healthcare and growing rapidly in emerging markets as well.

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Technological

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Legal

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Environmental

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