What happened Shares of Zomedica (NYSEMKT: ZOM) surged on Friday, furthering the veterinary health company's sharp gains since November. As of 12:52 p.m. EST, Zomedica's share price was up more than 15%. So what On Nov. 13, Zomedica announced it would begin selling its promising Truforma point-of-care diagnostic platform -- which uses patented Bulk Acoustic Wave (BAW) technology to detect adrenal and thyroid diseases in cats and dogs -- on March 30. The product is targeted at the diagnostics segment of the pet market, which is projected to grow to $2.8 billion by 2024. "The fact that some of our assays under development not only are believed to be the first ever developed for use at the point-of-care, but also the first ever available in veterinary medicine, is expected to be an exciting contribution to the health and treatment of our pets," Zomedica chief medical officer Stephanie Morley said at the time. Zomedica's stock continued its ascent on Friday. Image source: Getty Images. Zomedica's stock price gains accelerated in recent days after the company named Robert Cohen its new chief executive officer on Jan. 4. Cohen had previously served as Zomedica's interim CEO and board director. He brings over 30 years of leadership experience in the healthcare sector, with demonstrated success in helping young companies launch new products. Now what Pets have provided many people with much-needed companionship during the COVID-19 crisis. Rising pet adoptions during the coronavirus pandemic are helping to fuel the growth of the pet care industry. Americans will spend a record $99 billion this year on their pets, according to the American Pet Products Association. Zomedica's upcoming launch of its Truforma diagnostic platform appears to be coming at the perfect time, as it prepares to enter a booming market. 10 stocks we like better than Zomedica Pharmaceuticals Corp.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Zomedica Pharmaceuticals Corp. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source