Vir Biotechnology (NASDAQ: VIR) and Axonics (NASDAQ: AXNX) are two of the fastest-growing healthcare companies in terms of revenue. Vir raised $142.9 million when it went public with an initial public offering (IPO) in 2019, while Axonics raised $120 million with its IPO in 2018.

The key to both companies' success has been impressive innovation, which should serve them well beyond this year's success. Let's take a closer look at each.

Vir Biotechnology is a commercial-stage immunology company that focuses on infectious diseases. The company has gone from $711 million in annual revenue in 2019 to $1.1 billion in revenue last year and is on pace to bring in more than $2 billion in revenue this year.

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Source Fool.com