The industry will remain tied to expenditure on research and development over the next five years, as firms make advances in genetically engineered animals. Though these new technologies require government approval, advances in transgenic animals and cloning will increasingly drive demand. IBISWorld anticipates that favorable legislation will support strong revenue growth over the five years to 2019.
The Animal Health Biotechnology industry researches, develops, tests and distributes therapeutic drugs, diagnostic tools and preventive products for livestock and companion animals. In addition, companies provide tools that aim to improve farm animal breeding programs.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.