Home Press Releases Animal Biotechnology Market Size Worth $48.95 Billion By 2030 | CAGR: 9.5%

Animal Biotechnology Market Size Worth $48.95 Billion By 2030 | CAGR: 9.5%

The global Animal Biotechnology Market size is expected to reach USD 48.95 billion by 2030, according to a new study by Polaris Market Research. The report “Animal Biotechnology Market Share, Size, Trends, Industry Analysis Report, By Animal Type; By Product Type (Drugs, Diagnostic Test, Vaccinations, Feed Additives, Reproductive and Genetic); By Application; By End-Use; By Region; Segment Forecast, 2022 – 2030 gives a detailed insight into current market dynamics and provides an analysis of future market growth.

 

Factors such as the strategic development of industry players, including product innovations and collaboration to extend their product lines, the prevalence of the animal disease, as well as increasing demand for vaccines, drugs, diagnostic tests, and other animal biotechnology products are responsible for driving the growth of the industry.

 

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All over the globe, animal feed, vaccinations, and diagnostics for diseases including salmonella, foot-and-mouth disease, and bovine spongiform encephalopathy (BSE) have all been enhanced via biotechnology. National animal disease control programs were also scaled back or even suspended globally. Additionally, higher regulatory approvals and increased R&D activity by prominent industry players are anticipated to drive industry expansion during the upcoming period.

 

The outbreak of the COVID-19 pandemic has impacted the industry. Due to the surge in Covid-19 cases, many economies across the globe allowed only emergency or urgent procedures for veterinary healthcare. In addition, veterinary visits and diagnostic procedures were delayed, and demand for animal biotechnology products rebounded.

 

Animal Biotechnology Market Report Highlights

  • Livestock segment accounted for the largest revenue share in 2021 owing to the rising importance of livestock is increasing for developing agriculture in emerging countries. In many countries, livestock now makes up a more significant portion of agriculture and the GDP.
  • The demand for products made from animals is very great worldwide. This biotechnology market sector’s expansion is fueled by factors such as an increase in the urban population, dietary and lifestyle changes, and higher cattle production. Government vaccination campaigns for cattle also encourage market growth.
  • The rise of the animal vaccination market is due to the increasing incidence of animal diseases. These conditions naturally spread from animals to people. 
  • The preventive care of animal segment accounted for the highest revenue share in 2021 and is expected to expand the adaptability of companion animals.
  • Globalization and climate change are responsible for rising in zoonotic illness. As a result of this, veterinary hospitals and clinics generated the highest revenue share in 2021 
  • In 2021 North America has generated the largest market share in market. The growth of the market in this region is due to the increasing the demand for animal-based products, rising pet adaptation, and advancement in veterinary healthcare infrastructure. 
  • Major players operating in the industry are 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 and Co.Inc, Novartis AG, NXGN Management LLC, Pfizer Inc, Santa Cruz Biotechnology Inc, Virbac Group, Zoetis Inc.

 

Polaris Market Research has segmented the animal biotechnology market report based on animal type, product type, application, end-use, and region:

Animal Biotechnology, Animal Type Outlook (Revenue – USD Billion, 2018 – 2030)

  • Companion
    • Dogs
    • Horses
    • Cats
    • Others
  • Livestock
    • Poultry
    • Swine
    • Cattle
    • Fish
    • Sheep /Goats
    • Others

Animal Biotechnology, Product Type Outlook (Revenue – USD Billion, 2018 – 2030)

  • Drugs
  • Diagnostic Test
  • Vaccination
  • Feed additives
  • Reproductive and Genetic

Animal Biotechnology, Application Outlook (Revenue – USD Billion, 2018 – 2030)

  • Food Safety & Drug Development
  • Preventive Care of Animals
  • Treatment of Animal Diseases
  • Diagnosis of Animal Diseases
  • Others

Animal Biotechnology, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Veterinary Hospitals and clinics
  • Point of Care testing or In–House Testing
  • Laboratories
  • Others

Animal Biotechnology, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

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