VELDONA Pet will hit shelves in Taiwan in June, with launches in other regions to follow
Multiple new VELDONA Pet products set to launch as Ainos enters the growing global pet care market
SAN DIEGO, CA / ACCESSWIRE / May 30, 2023 / Ainos, Inc. (NASDAQ:AIMD, AIMDW) ("Ainos", or the "Company"), a diversified medtech company focused on the development of novel point-of-care testing, low-dose interferon therapeutics, and synthetic RNA-driven preventative medicine, today announced that it has launched its VELDONA Pet cytoprotein health supplements. VELDONA Pet will first be marketed in Taiwan in June, with near-term plans to expand sales and marketing in other markets. Multiple new VELDONA Pet products are in the works. Ainos targets approximately US$20 million in revenues from VELDONA Pet during 2024, boosted by its growing product portfolio and expansion into new markets.
Chun-Hsien Tsai, Ainos' Chairman of the Board, President, and Chief Executive Officer, commented, "The second half of 2023 will be a very exciting period for Ainos. There is a huge addressable market for our product: China has around 117 million pet dogs and cats, Japan has approximately 18 million, and the U.S. has 190 million. We expect that VELDONA Pet products will position us to capture the lucrative global pet care market, which is projected to grow to over US$325 billion in 2028 from US$223 billion in 2021, according to Fortune Business Insights."
"We are developing multiple new products based on VELDONA Pet to provide pet owners with more innovative options to support their pets' health," Mr. Tsai said. "Boosted by our growing product portfolio and expansion into new markets, our ambition is that VELDONA Pet will generate approximately US$20 million in revenues during 2024."
"The introduction of Ainos' VELDONA Pet health supplements in Taiwan marks the beginning of a new chapter in our company's story," Mr. Tsai added. "We leveraged 40 years of interferon research to develop VELDONA Pet, which now serves as a vital component of our next stage of growth. The fact that we were able to bring it to market a quarter ahead of schedule is yet another testament to our team's unparalleled expertise and ability to execute."
"We expect VELDONA Pet to be available for sale in Taiwan in June. With approximately one in four Taiwanese families now owning pets, Taiwan is the ideal location for our product launch. There are currently around three million pet dogs and cats in Taiwan, surpassing the number of children under 14 years old, and this number is projected to grow to four million by 2025.