$1.0bn
$XXX.Xm
1,530
98
$XXX.Xm
Veterinary pharmaceutical manufacturers have endured their fair share of challenging trading conditions. Demand from downstream beef, cattle and sheep farming has been volatile thanks to seasonal weather patterns that battered farmers with either prolonged drought conditions or escalating flood waters. Livestock numbers fell in the face of these extreme conditions and, with it tumbled demand for veterinary pharmaceuticals. Stringent regulatory controls, higher compliance costs and growing consolidation pressures have compounded this issue, prompting several major global pharmaceutical companies to divest their animal health pharmaceutical operations.
Industry revenue has grown at a CAGR of 1.5 % over the past five years, to reach an estimated $1.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 |
---|---|---|
Zoetis Australia | 540.0 | |
MSD Animal Health | 230.0 | |
Virbac (Australia) | 210.0 |
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Industry revenue is measured across several distinct product and services lines, including Parasiticides, Other products and Antibiotics and related products. Parasiticides is the largest segment of the Veterinary Pharmaceutical Manufacturing in Australia.
Sales of parasiticides have slid owing to strict usage restrictions
Industry firms manufacture drugs, medicines, medicinal chemicals, vaccines, serums and other pharmaceutical products for veterinary use. These animal health products are targeted towards food-producing animals (cattle, pigs, poultry and sheep) and companion animals (primarily dogs and cats).
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ANZSIC 1842 - Veterinary Pharmaceutical Manufacturing in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Seasonal weather conditions have weakened demand from livestock farmers. Yet, a surge in pet ownership and pet humanisation trends has supported an upswing in revenue.
Learn about an industry's products and services, markets and trends in international trade.
Parasiticides are the largest product segment for veterinary pharmaceutical manufacturers. Yet, sales have slid thanks to a rigorous approval process and strong regulations.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
New South Wales, Victoria and Queensland dominate the veterinary pharmaceutical market based on the location of manufacturers. Access to shipping ports, airports and chemical...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Economies of scale are a competitive advantage for veterinary pharmaceutical manufacturers. Being able to spread fixed and variable costs over a larger product base provides ...
Learn about the performance of the top companies in the industry.
Subsidiaries of global corporations dominate veterinary pharmaceutical manufacturing. Collectively, the three largest manufacturers control over 90% of the domestic market.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Veterinary pharmaceutical manufacturers must comply with the Agricultural and Veterinary Chemicals Code Act 1994. The aim of the act is to evaluate, register and control agri...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Veterinary pharmaceutical manufacturers have enjoyed a hike in profitability. Recent herd-building activity and stronger demand from downstream cattle farming have contribute...
Including values and annual change:
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Key data sources in Australia include:
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These sources include:
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The market size of the Veterinary Pharmaceutical Manufacturing industry in Australia is $1.0bn in 2024.
There are 98 businesses in the Veterinary Pharmaceutical Manufacturing industry in Australia, which has grown at a CAGR of 2.9 % between 2019 and 2024.
The market size of the Veterinary Pharmaceutical Manufacturing industry in Australia has been growing at a CAGR of 1.5 % between 2019 and 2024.
Over the next five years, the Veterinary Pharmaceutical Manufacturing industry in Australia is expected to grow.
The biggest companies operating in the Veterinary Pharmaceutical Manufacturing market in Australia are Zoetis Australia, MSD Animal Health and Virbac (Australia)
Parasiticides and Immunotherapy product and vaccines are part of the Veterinary Pharmaceutical Manufacturing industry.
The company holding the most market share in Australia is Zoetis Australia.
The level of competition is high and increasing in the Veterinary Pharmaceutical Manufacturing industry in Australia.