Shots:

• The animal health industry is involved in a wide variety of services, from disease prevention to addressing insatiable nutritional needs. This sector not only protects us from potential zoonotic diseases but also delivers food of high quality derived from animals
• In 2022, the animal health industry was valued at $58.66B. By 2030, the global animal health industry is envisioned to grow with a CAGR of 8.8 % from 2023 to 2030. In 2022, Zoetis emerged at the top-most position with a total revenue of $8.08B followed by MSD Animal Health and Boehringer Ingelheim with $5.55B and $4.89B
• PharmaShots brings an illuminating report on the Top 20 Animal Health companies based on 2022 total revenue

20. ImmuCell

Revenue: $18.6M

Founded Year: 1982

Market Cap: $35.11M

Total Employees: ~70

Headquarters: Maine, United States

Stock Exchange: NASDAQ

• ImmuCell is a biotech company that develops, manufactures, and markets therapeutics to improve the health of animals. ImmuCell is a renowned name among the leading animal health companies
• The company focuses on providing scientifically proven products that improve health and productivity in the dairy and beef industry
• First Defense, a lead asset to ImmuCell, provides immunity to the newborn dairy and beef calves against aggressive pathogens, including E. coli and coronavirus, without the use of conventional antibiotics. In 2022, ImmuCell’s total revenue went down by 3.12% as compared to 2021

19. Hester

Revenue: $32M

Founded Year: 1987

Market Cap: $150.13

Total Employees: ~700

Headquarters: Gujarat, India

Stock Exchange: NSE

• Hester Biosciences develops and manufactures poultry vaccines across India and globally. The company has a diverse portfolio of products that comprises vaccines and health products for poultry, livestock, and pet animals
• Services provided by the Hester include seroprofiling kits and diagnostic labs for poultry flocks along with mastitis control programs for cattle
• As compared to 2021, Hester’s 2022 revenue increased by 3.22%

18. AnimalCare

Revenue: $86.6M

Founded Year: 1988

Market Cap: $131.67

Total Employees: ~200

Headquarters: York, England

Stock Exchange: LON

• AnimalCare is an international organization dedicated to the development and commercialization of therapeutic products and provides services across the animal health sector
• AnimalCare has been providing a broad range of animal health products, including medications, identichip microchips, pet care products, and practice equipment
• AnimalCare’s 2021 revenue was dropped by 13.57% vs 2020

17. Eco Animal Health

Revenue: $105.5M

Founded Year: 1972

Market Cap: $95.40M

Total Employees: ~200

Headquarters: London, United Kingdom

Stock Exchange: LON

• A research-based animal health company, Eco Animal Health develops, and markets differentiated generics and innovative solutions
• The company produces therapeutics to address disorders associated with the livestock industry. It provides solutions to economically important respiratory and enteric diseases in pigs and poultry
• In 2022, Eco’s revenue fell by 2.40% as compared to the sales generated in 2021

16. KRKA

Revenue: $105.8M

Founded Year: 1954

Market Cap: $3.9B

Total Employees: ~11,600

Headquarters: Novo Mesto, Slovenia

Stock Exchange: WSE

• KRKA is a globally known generic pharmaceutical company that produces and commercializes prescription, non-prescription, and animal health products
• The company functions under the business segments including Prescription Pharmaceuticals, Non-Prescription Products, Animal Health Products, and Health Resort and Tourist Services
• Under its Animal Health segment, KRKA produces anti-infectives, antiparasitic, insecticides, and antiseptics. The company’s 2022 total revenue increased by 14.50% as compared to 2021 

15. Orion

Revenue: $106.1M

Founded Year: 1917

Market Cap: $145.56M

Total Employees: ~3,472          

Headquarters: Espoo, Finland

Stock Exchange: OTCMKTS

• A global biopharma company, Orion develops, manufactures, and markets pharmaceuticals for human and animal well-being, along with APIs
• Oncology and Pain are the therapy areas targeted by the company. Orion provides services across the US, Europe, Japan, Latin America, and the Middle East
• In 2022, Orion’s total revenue was boosted by 27.52% as compared to 2021 

14. Sequent

Revenue: $173M

Founded Year: 2002

Market Cap: $901.65M

Total Employees: ~1,300

Headquarters: Mumbai, India

Stock Exchange: NSE

• Sequent Scientific Limited is an integrated pharmaceutical company that develops products for the animal healthcare sector
• It brands its animal health business as Alivira Animal Health. The company produces API and formulations for livestock, poultry, and companion animals
• Sequent also provides laboratory and technical support services in the animal health domain. The company’s 2022 total revenue dropped by 7.78% as compared to 2021

13. Ouro Fino Saude Animal

Revenue: $257.3M

Founded Year: 1988

Market Cap: $259.75

Total Employees: ~800

Headquarters: Colorado, United States

Stock Exchange: NASDAQ

• Ouro Fino Saude Animal develops and commercializes veterinary and healthcare products. The company provides therapeutic drugs, vaccines, and other healthcare products for cattle, pigs, poultry, sheep, horses, goats, and pets
• Production Animals, Companion Animals, and International Operations are the three business segments that the company operates
• As compared to 2021, Ouro Fino Saude’s 2022 revenue went up by 21.30%

12. Heska

Revenue: $257.3M

Founded Year: 1988

Market Cap: N/A

Total Employees: ~800

Headquarters: Colorado, United States

Stock Exchange: N/A

• A veterinary company based in America, Heska is a renowned name in the animal healthcare domain. The company develops and manufactures veterinary, animal health, diagnostic, and specialty products primarily for dogs, cats, and horses
• Heska provides Point of Care laboratory instruments, consumables, digital imaging diagnostic products, reference laboratory testing, digital cytology services, and vaccines among others
• In Jun 2022, Mars completed the acquisition of Heska. Heska’s 2022 revenue increased by 1.42% vs 2021

11. Neogen

Revenue: $275.6M

Founded Year: 1982

Market Cap: $476.83

Total Employees: ~600

Headquarters: Michigan, United States

Stock Exchange: NSE

• A multinational healthcare company, Neogen has a global presence across the food and animal safety markets
• Under its animal health segment, the company develops, manufactures, markets, and distributes veterinary instruments, pharmaceuticals, vaccines, topicals, parasiticides, diagnostic products biosecurity products, and genomics services 
• In 2022, Neogen’s animal health segment revenue was boosted by 55.99% as compared to 2021

10. Norbrook

Revenue: $280.8M

Founded Year: 1969

Market Cap: N/A

Total Employees: ~1,900

Headquarters: Newry, United Kingdom

Stock Exchange: N/A

• Norbrook Laboratories is a global pharmaceutical company with a renowned name in the animal healthcare sector. The company focuses on developing and distributing products for farms and companion animals
• A major part of its product line consists of infection control, parasite protection, pain relief, and nutrient deficiencies. The majority of Norbrook’s 2022 revenue was contributed by the sales of its products for Farm species
• Its overall revenue in 2022 dropped by 10.20% vs 2021

9. Vetoquinol

Revenue: $579.5M

Founded Year: 1933

Market Cap: $1.2B

Total Employees: ~2,500

Headquarters: Lure, France

Stock Exchange: EPA

• An internationally acclaimed animal health company, Vetoquinol develops and distributes medicinal and non-medicinal products for farm animals, including cattle and pigs, and pets, including dogs and cats
• The company has a global presence across animal health domains in the US, Europe, and Asia Pacific Regions. Vetoquinol develops products for animals across key therapeutic areas, including anti-infectives, pain, inflammation, cardiology, and nephrology
• In 2022, Vetoquinol’s overall revenue increased by 2.23% vs 2021 

8. Phibro Animal Health

Revenue: $659.9M

Founded Year: 1946

Market Cap: $469.84

Total Employees: ~1,900

Headquarters: New Jersey, United States

Stock Exchange: NASDAQ

• Phibro Animal Health is a global animal health and mineral nutrition company. The company develops and distributes solutions for the betterment of animals and their health 
• Phibro produces products for food and companion animals including poultry, swine, beef, and dairy cattle, aquaculture, and dogs. Antibacterials, anticoccidials, nutritional specialty products, and vaccines are among the products distributed by the company 
• Phibro’s 2022 revenue rose by 8.73% as compared to 2021

7. Dechra

Revenue: $967.7M

Founded Year: 1997

Market Cap: $5.57B

Total Employees: ~2,400

Headquarters: Northwich, United Kingdom

Stock Exchange: LON

• Dechra Pharmaceuticals is an international pharmaceutical company with a well-established business across the animal healthcare sector. The company develops, manufactures, and commercializes products for the veterinary market globally 
• Key therapy areas that the company targets include Endocrinology, Topical Dermatology, Analgesia, and Anaesthetics among others
• In 2022, Dechra’s revenue increased by 16.72% as compared to 2021 

6. Virbac

Revenue: $1.30B

Founded Year: 1968

Market Cap: $2.84B

Total Employees: ~5,400

Headquarters: Carros, France

Stock Exchange: EPA

• An animal health company based in France, Virbac provides innovative solutions to veterinarians, farmers, and animal owners. The company segments its animal health business into Companion Animals, Ruminants, Aquaculture, and Swine
• Virbac strives to deliver products and services to diagnose, prevent, and treat animal health disorders and improve their quality of life 
• In 2022, Virbac’s overall revenue rose by 7.83% vs 2021

5. Idexx

Revenue: $3.06B

Founded Year: 1983

Market Cap: $46.31B

Total Employees: ~10,800

Headquarters: Maine, United States

Stock Exchange: NASDAQ

• An American multinational healthcare company, Idexx Laboratories indulges in providing services for companion animal veterinary, livestock, poultry, dairy, and water testing industries 
• The company also provides services under human medical point-of-care and laboratory diagnostic. Under animal health, the company delivers veterinary diagnostic products, reference laboratory diagnostic and consulting services, health monitoring products, etc.
• Idexx’s 2022 revenue increased by 5.84% as compared to 2021

4. Elanco

Revenue: $4.41B

Founded Year: 1954

Market Cap: $6.73B

Total Employees: ~1,100

Headquarters: Indiana, United States

Stock Exchange: NYSE  

• An international healthcare company, ELANCO holds a renowned position among animal health companies. The company focuses on developing and commercializing products for the prevention and treatment of diseases in farm animals and pets 
• ELANCO mainly serves core species, including dogs, cats, cattle, poultry, swine, sheep, and aqua. The company is an integral part of Bayer, a biopharma giant 
• ELANCO’s total revenue in 2022 went up by 7.41% vs 2021 

3. Boehringer Ingelheim

Revenue: $4.89B

Founded Year: 1885

Market Cap: N/A

Total Employees: ~53,200

Headquarters: Ingelheim, Germany

Stock Exchange: N/A

• An international biopharma company, Boehringer Ingelheim has marked its position among the leading companies in the animal health business 
• The company divides its business into Human Pharma, Animal Health, and Biopharmaceutical Contract manufacturing. Under its animal health business, the company discovers, develops, and distributes veterinary vaccines and medicines
• In 2022, Boehringer’s animal health segment revenue slightly increased by 0.14% vs 2021

2. MSD

Revenue: $5.55B

Founded Year: 1891

Market Cap: $271.42B

Total Employees: ~69,000

Headquarters: New Jersey, United States

Stock Exchange: NYSE

• Merck & Co. is a multinational biopharma company that discovers and develops innovative health solutions through prescription medicines under biologics, vaccines, and animal health products 
• Merck divides its business into Pharmaceutical and Animal Health segments. Under its animal health segment, the company discovers, develops, manufactures, and markets a wide range of veterinary pharmaceutical and vaccine products for livestock and companion animal species
• In 2022, Merck’s animal health segment revenue dropped by 0.32% vs 2021

1. Zoetis

Revenue: $8.08B

Founded Year: 1954

Market Cap: $90.63B

Total Employees: ~9,400

Headquarters: New Jersey, United States

Stock Exchange: NYSE

• A renowned name in the animal healthcare sector, Zoetis discovers, develops, manufactures, and commercializes medicines, diagnostic products, services, and healthcare technologies for the well-being of animal species 
• The company develops products for dogs, cats, cattle, swine, poultry, horses, fish, sheep, and others. Parasiticides, vaccines, dermatology, and anti-infectives among others are the key therapy areas that the company targets 
• In 2022, Zoetis reported a 3.91% increase in its overall revenue as compared to 2021

Sources:

• Annual reports
• SEC Filings
• Press releases
• Company websites

Market Cap Source: Google Finance (12^th Dec 2022)

Currency Conversion: X-Rates (12^th Dec 2022)

Note:

• The revenue for Eco Animal Health Increased in GBP but Decreased in USD (Due to Currency Rate Drop)
• The revenue for Sequent Scientific Limited Increased in INR but Decreased in USD (Due to Currency Rate Drop)
• The revenue for Norbrook Laboratories Increased in GBP but Decreased in USD (Due to Currency Rate Drop)

Related Posts: Top 20 Animal Health Companies Based on 2021 Total Revenue