Zoetis develops and sells medicines, vaccines and diagnostic products for pets and livestock, spun off from Pfizer to operate as an independent, publicly traded animal health company. Its companion animal business sells medicines and vaccines for dogs, cats and other pets, benefiting from growing pet ownership and increasing willingness among pet owners to spend on veterinary care, often described as the humanization of pets. Zoetis's livestock business sells products used by farmers and ranchers to keep cattle, poultry, swine and other farm animals healthy, supporting global food production through animal health rather than direct consumer purchases. The company's revenue is split between its companion animal business, which has grown strongly alongside rising pet healthcare spending, and its livestock business, which is tied more to global meat and dairy production trends and animal health needs in commercial farming operations.