$14.0bn
$X.Xbn
29,996
197
$X.Xbn
Animal health biotechnology companies create products – vaccines, medications and food – that safeguard animals' health. Changing attitudes toward companion animals like dogs and cats encourage pet owners to pay premiums for these products. At the same, livestock producers see an invaluable benefit in biotech to protect their animals and investments. Innovative developments created by animal health biotechnology companies have shown the field's potential, leading investors to flock to animal health biotechnology companies. A rapidly expanding animal health market is leading industry-wide revenue to grow at an average annualized 3.1% over the past five years. It is expected to total $14.0 billion in 2024 when revenue will rise by an estimated 0.4%.
Industry revenue has grown at a CAGR of 3.1 % over the past five years, to reach an estimated $14.0bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Zoetis Inc. | 4,955.5 | 1,736.1 | 35.0 | |
Merck & Co | 2,611.6 | 64.5 | 2.5 | |
CH Boehringer Sohn AG & Ko. KG | 971.3 | 226.3 | 23.3 |
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Industry revenue is measured across several distinct product and services lines, including Medications and vaccines, Anti-infectives and Other. Medications and vaccines is the largest segment of the Animal Health Biotechnology in the US.
The development of biotech vaccines and medication creates invaluable benefits for animal health
Animal health biotechnology companies research, develop, test and distribute therapeutic drugs, diagnostic tools and preventive products for livestock and companion animals. Drugs not developed using biological materials or processes are not included in this industry. In addition, companies provide tools that improve farm animal breeding programs.
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NAICS 54171 - Animal Health Biotechnology in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Animal health biotech companies are increasingly involved in safeguarding animal health. Pet owners and livestock producers are willing to pay a premium to improve the well-b...
Learn about an industry's products and services, markets and trends in international trade.
Developments in vaccines and medications are transforming animal care. Animal health biotech companies are introducing innovative medications that are invaluable to veterinar...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Mid-Atlantic states are biotech hubs. Animal health leaders Zoetis and Merck drive biotech activity in the region.
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.
Patent protection limits price competition. Biotechnology companies with patent protection receive market exclusivity for their product, granting them pricing power.
Learn about the performance of the top companies in the industry.
Zoetis is at the forefront of animal health. The company has introduced over 5,000 patent-protected breakthrough animal products to the animal health market, leading it to do...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Animal health biotechs navigate a complex regulatory environment. A collection of federal agencies and regulatory bodies oversee the safety and efficacy of developing biotech...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Animal health biotechnology R&D is a knowledge-intensive process. Wages are a leading expense for companies competing for top talent in sophisticated fields.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Animal Health Biotechnology in the US industry in United States is $14.0bn in 2024.
There are 197 businesses in the Animal Health Biotechnology in the US industry in United States, which has grown at a CAGR of 4.1 % between 2019 and 2024.
The market size of the Animal Health Biotechnology in the US industry in United States has been growing at a CAGR of 3.1 % between 2019 and 2024.
Over the next five years, the Animal Health Biotechnology in the US industry in United States is expected to grow.
The biggest companies operating in the Animal Health Biotechnology market in United States are Zoetis Inc., Merck & Co and CH Boehringer Sohn AG & Ko. KG
Developing animal vaccines and Researching and testing animal medicine are part of the Animal Health Biotechnology in the US industry.
The company holding the most market share in United States is Zoetis Inc..
The level of competition is moderate and increasing in the Animal Health Biotechnology in the US industry in United States.