BioPlus Co., Ltd. received permission to manufacture veterinary medical devices from the Animal Drug Management Division on July 18, 2019. In addition, the approval of the 'Dressing, deep- cavity wound (adhesion inhibitor)' for animals was completed.
In Korea, the number of pets is increasing due to the increase of single-person households and the aging population, and the market size is growing every year.
According to the KB Financial Holdings Research Institute's 2018 Survey on Pet Care, 25.1% of all households have pets, and the market for pet products grows at an average annual rate of 15%. Qualitative growth is expected.
As a result, BioPlus plans to actively expand the veterinary medical device market.