Animal Biotechnology Market Share, Size, Trends, Industry Analysis Report, By Animal Type (Companion and Livestock); By Product Type; By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jun-2023
- Pages: 114
- Format: PDF
- Report ID: PM2563
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global animal biotechnology market was valued at USD 24,439.01 million in 2022 and is expected to grow at a CAGR of 8.8% during the forecast period.In animal biotechnology, animals are genetically engineered using molecular biology techniques to make them more suitable for pharmaceutical, agricultural, or industrial purposes. Animals with enhanced growth rates, disease resistance, and the ability to synthesize therapeutic proteins have all been developed via the animal biotechnology market.
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The demand for animal biotechnology market is rising as biotechnology employs different diagnostic techniques to identify the various diseases that affect animals, enables the treatment of these diseases through several therapeutic options, and develops pharmaceuticals for use in animals and veterinary vaccines for preventive care. Animal health is protected by veterinary vaccines, which play an important role in preventing and controlling serious epizootic infections.
A few main growth drivers are the expanding demand for genetically altered therapeutic proteins that offer greater disease resistance, their usage in cancer treatment, and the rise in preventative care for pets. Increased public concern over animal welfare and health issues, expanding role of animals in the development of human pharmaceuticals, increase in animal adoption, and improved demand for the use of animals in agriculture, meat production, and animal-based products are all factors that support the industry's expansion. In the upcoming years, demand for animal health technology may increase due to the government's rising number of initiatives and programs to enhance animal health.
The COVID-19 pandemic has significantly impacted the market for animal biotechnology. Delays in routine medical treatments such as immunizations have seriously affected people's health and welfare. A surplus of work following the release of COVID-19 constraints has also led to further delays in delivering these services. Veterinary visits and diagnostic procedures were sharply reduced.
Industry Dynamics
Growth Drivers
The factors responsible for the growth of the global animal biotechnology market are the prevalence of animal diseases, the incidence of zoonotic diseases, the rise in pet ownership, the demand for meat and animal-based products, and the use of animals in agriculture.
Other significant factors influencing the growth of this biotechnology market include advancements in cloning and the development of transgenic animals, which will increase the animal's ability to fight disease; supportive approval bodies and favorable governmental regulations; growing R&D activities; and rising demand for animals.
The growing awareness of animal genetic testing is also expected to expand this biotechnology market. The development of the worldwide animal biotechnology market is anticipated to benefit from the rising production of novel vaccines that are practical and easy to use, such as recombinant vaccines, Anti-idiotype vaccinations, synthetic vaccines, and subunit vaccines. These vaccines are a valuable tool for reducing animal illness burden and are essential for maintaining preventative health and disease control.
Report Segmentation
The market is primarily segmented based on animal type, product type, application, end-use, and region.
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By Animal Type |
By Product Type |
By Application |
By End-Use |
By Region |
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The livestock segment dominated the global market in 2022
The livestock segment has emerged as the dominant revenue generator in the market, capturing the largest share. The global demand for livestock products, including meat, milk, and eggs, continues to rise, driving the growth of the livestock industry. Animal biotechnology is pivotal in improving livestock productivity, enhancing animal health, and developing genetically modified breeds with favorable traits.
Through genetic engineering, cloning, and transgenics, biotechnological tools and techniques are employed to achieve these goals. The livestock segment's leadership position in the Animal Biotechnology Market can be attributed to the increasing need for sustainable and efficient livestock production to meet the growing global food demand while ensuring optimal animal welfare and environmental stewardship.
Veterinary hospitals and clinics dominated the revenue share in 2022
Veterinary hospitals and clinics dominated the revenue share in the market due to their wide range of treatment and diagnostic options. The surge in zoonotic diseases driven by globalization and climate change has increased the demand for diagnostic procedures in veterinary settings. This has led to an anticipated rise in point-of-care testing or in-house testing in the future.
Advanced diagnostic tools such as molecular diagnostics, imaging technologies, and rapid tests have become available in veterinary hospitals and clinics, enabling accurate and timely disease diagnosis. This market expansion in veterinary settings is fueled by the growing demand for comprehensive diagnostic capabilities, facilitating effective disease management in animals and addressing concerns related to zoonotic diseases.
North America dominated the global market in 2022.
North America emerged as the leading market for animal biotechnology, capturing the largest market share. The region's dominance can be attributed to several factors. Firstly, North America has a well-established and technologically advanced healthcare infrastructure, including veterinary facilities and research institutions, fostering the adoption of animal biotechnology. Secondly, the region strongly emphasizes animal health and welfare, driving the demand for advanced biotechnological solutions in the livestock industry.
Additionally, North America has a high concentration of biotechnology companies and research organizations, contributing to developing and commercializing innovative animal biotechnology products. Moreover, favorable government initiatives, supportive regulatory frameworks, and a robust investment landscape further stimulate the market’s growth in North America.
Competitive Insight
Some of the major players operating in the global market include Bayer AG, Boehringer Ingelheim International GmbH, Biogenesis Bago, Ceva, CSL Limited, Elanco, Heska Corporation, Hester Biosciences Limited, Idexx Laboratories, Id Vet India Pvt. Ltd, Indian Immunological Ltd, Intervet International B.V, Kareo Inc, Merck, Novartis AG, NXGN Management LLC, Pfizer Inc, Santa Cruz Biotechnology Inc, Zoetis Inc.
Recent Developments
In December 2021, The Goat Pox Vaccine was launched by Indian Immunologicals Ltd (IIL), which helps to control Goat Pox Disease. Such launches enhance the adaptation of vaccines and drive the growth of the market.
In March 2022, Hester Bio, a producer of poultry vaccines, entered the pet care industry. The business is currently trying to expand its pet care products to include dermatology, nutrition, grooming, anti-infective, and specialty items.
Animal Biotechnology Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 26,561.97 million |
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Revenue forecast in 2032 |
USD 56,949.40 million |
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CAGR |
8.8% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD million and CAGR from 2023 to 2032 |
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Segments Covered |
By Animal Type, By Product Type, By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Bayer AG, Boehringer Ingelheim International GmbH, Biogenesis Bago, Ceva, CSL Limited, Elanco, Heska Corporation, Hester Biosciences Limited, Idexx Laboratories, Id Vet India Pvt. Ltd, Indian Immunological Ltd, Intervet International B.V, Kareo Inc, Merck, Novartis AG, NXGN Management LLC, Pfizer Inc, Santa Cruz Biotechnology Inc, Zoetis Inc. |
FAQ's
key companies in Animal Biotechnology Market are Bayer AG, Boehringer Ingelheim International GmbH, Biogenesis Bago, Ceva, CSL Limited.
The global animal biotechnology market expected to grow at a CAGR of 8.8% during the forecast period.
The Animal Biotechnology Market report covering key are animal type, product type, application, end-use, and region.
key driving factors in Animal Biotechnology Market are Increasing R&D Activities by Major Market Players.
The global animal biotechnology market size is expected to reach USD 26,561.97 million by 2032.
