Daewoong Pet, a leading companion animal healthcare company (Co-CEOs: Hyojoon Lee and Jaebong Moon), announced on December 30 that it is officially launching its CRO (Contract Research Organization) services dedicated to the development of new drugs for pets. This strategic move aligns with the growing pet market and increasing demand for veterinary pharmaceuticals.

According to the Korea Pet Report, the number of households raising pets increased from approximately 5.59 million in 2017 to 6.3 million in 2023—an increase of 12.7%. Alongside this growth, pet owners are showing greater interest in disease prevention and treatment for their animals.

Despite this rising demand, the veterinary pharmaceutical market remains underdeveloped. Over 70% of the medications used in veterinary clinics are estimated to be human drugs. These are often crushed for dosing, which can degrade drug efficacy, lead to cross-contamination, and result in bitter tastes that make administration difficult for animals.

This situation underscores the urgent need for the active development of veterinary-specific drugs. In particular, CROs with specialized capabilities in veterinary medicine play a critical role in addressing this gap.

Through its CRO operations, Daewoong Pet provides end-to-end clinical trial services, including regulatory consulting for veterinary drug approval. The company is positioning itself as a leader in veterinary pharmaceutical development by leveraging collaborations with domestic and international R&D partners. Its team of experts—including veterinarians and clinical research nurses—ensures the delivery of high-quality clinical trial services grounded in a deep understanding of animal diseases.

Daewoong Pet has secured highly specialized personnel for its clinical research team, enabling the company to deliver superior service and achieve strong clinical outcomes. By adopting Daewoong Pharmaceutical’s accelerated clinical trial strategies, it has also developed efficient protocols to reduce both costs and timelines for new drug development.

In March 2023, the company was certified as an authorized institution for veterinary clinical trials. It is also preparing to receive approval for conducting clinical trials for veterinary medical devices in the near future. These initiatives will allow Daewoong Pet to expand its services to include regulatory consulting and trials for veterinary medical devices, further strengthening its market competitiveness.

Additionally, Daewoong Pet is developing an electronic Case Report Form (e-CRF) system to enhance trial efficiency and ensure compliance with global clinical research guidelines. This reflects the company’s ongoing investment in high-quality clinical trial design and management.

CEO Jaebong Moon stated, “As a veterinary clinical CRO, Daewoong Pet holds the distinction of securing the first product approval for a pet pharmaceutical in Korea and has extensive experience conducting pivotal (Phase 3) clinical trials. We aim to be the ideal partner for companies facing challenges in pet drug development, leveraging our unmatched expertise and proven track record.”