Suppose you think that the pharmaceutical industry only earns by making huge profits through making health supplements for human beings. You are very wrong in so many aspects. You will be surprised to know the facts regarding the animal health product sales in the whole of the U.S. Pharmaceutical industry is the largest profitable industry all around the globe. The profit with the pharmaceutical industries is on a growing rate since-ever. Animal health product sales in the U.S. make up about two percent of the complete total of the U.S. pharmaceutical market. If you think 2% is quite low, then let us tell you that it makes a whopping amount of 9.9 billion dollars. Also, the percentage and the amount of the profits are at an ever-increasing rate.
Details Of The Animal Health Products Sales In The U.S.
As mentioned above, animal health products sales in the U.S. marks around 2% of the total pharmaceutical sales in a year. To be precise, animal health products sales in the U.S. are around 10 billion dollars in comparison to 450 billion dollars in human medicines. You might think that it is quite low in comparison to human medicine. However, you need to see the ever-increasing graph rate in comparison with the past few years. About sixty percent of the total of the animal health products sales in the U.S. are companion animal products. In contrast, about forty percent of the animal health products sales in the U.S. are food-producing animal products. If you look minutely at the details of the animal health products sales in the U.S., you will find that the pharmaceutical industry accounts for more than half of the sales. Tick and flea medications make about twenty-nine percent of the complete industry. In comparison, the biological is around nineteen percent of the industry. Animal health products sales in the U.S. are around one-third of the global market.
Future Of Animal Health Products Sales In The U.S.
Researchers conclude that animal health products sales in the U.S. will see an upsurge of around 3.5 percent every year by the end of 2021. The animal health products sales industry was facing a recession in the early years of the 2000s. However, after 2016, there has been an immense growth in animal health products sales in the U.S.
The Scope Of Animal Health Products Sales
Well, the scope of animal health products sales in the U.S. is quite wide. No matter that the industry was in recession for quite a long time. However, it is on its way to full bloom now. Along with essential medications, there are several other animal health products that have their role to play in increasing animal health products sales in the U.S. in recent years. There are so many companies that supply animal health products in the U.S.