How Has The Animal Biotechnology Market Size Evolved In Recent Years?
The animal biotechnology market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a substantial growth in the animal biotechnology market. It is estimated to escalate from a valuation of $30.33 billion in 2024 to around $32.97 billion in 2025, progressing at a compound annual growth rate (CAGR) of 8.7%. The reasons for this growth during the historic period include factors such as genetic enhancement, heightened agricultural productivity, development of vaccines and therapeutics, focus on environmental sustainability, improved feed efficiency, nutritional enhancement, and decreased environmental impact.
What is the Forecasted Market Size and CAGR for the Animal Biotechnology Market?
The Animal Biotechnology market is expected to maintain its strong growth trajectory in upcoming years.
• In the upcoming years, the animal biotechnology market is predicted to experience substantial expansion, with its worth forecasted to reach $48.68 billion by 2029, growing at a compound annual growth rate (CAGR) of 10.2%.
The predicted growth during this term is due to factors such as the creation of disease-resistant strains, production of biopharmaceuticals, cell-based meat production, concerns over global food security, regulatory backing, and approval from consumers and the public. Other significant trends expected to define the forecast period include genome editing technologies, animal stem cell techniques, biopharmaceutical production in animals, biobanking and preservation of genetic resources, the rise of Crispr-based treatments, and enhancements in biosecurity and disease monitoring.
What Key Factors and Trends Are Driving The Growth Animal Biotechnology Market?
The rise in consciousness about the health and wellbeing of animals is projected to fuel the growth of the animal biotechnology market. This involves the manner in which humans interact with animals, assuring the animals they are caring for are treated suitably and humanely. Animal biotechnology significantly contributes to the enhancement of animal productivity through improving growth, reproduction quality, nutrition, fodder utilization, food safety, and so on, ultimately using resources more effectively. For example, in May 2023, the More Than a Pet initiative was introduced by the Humane Society, highlighting the crucial role of equal access to veterinary Aid, especially for overlooked communities. As a result of this action, more than 14,800 pets were provided with 64,000 services in 2023 via community outreach initiatives geared towards enhancing animal welfare in poor-resource locales. The campaign aimed at offering crucial veterinary care and support for improving the living conditions of animals in underprivileged areas. Hence, the rising awareness regarding animal health and welfare is spurring the expansion of the animal biotechnology market.
What Are The Market Segments In The Animal Biotechnology Market?
The animal biotechnology market covered in this report is segmented –
1) By Product Type: Diagnostics Tests, Vaccines, Drugs, Reproductive And Genetic, Feed Additives
2) By Animal Type: Companion, Livestock
3) By Application: Diagnosis Of Animal Diseases, Treatment Of Animal Diseases, Preventive Care Of Animals, Drug Development, Other Applications
4) By End-Use: Laboratories, Point-Of-Care Testing Or In-house Testing, Veterinary Hospitals And Clinics, Other End-Uses
Subsegments:
1) By Diagnostics Tests: Immunodiagnostic Tests, Molecular Diagnostic Tests, Biochemical Diagnostic Tests
2) By Vaccines: Inactivated Vaccines, Live Attenuated Vaccines, Recombinant Vaccines
3) By Drugs: Antimicrobial Drugs, Anti-Inflammatory Drugs, Hormonal Drugs
4) By Reproductive And Genetic: Genetic Testing Services, Artificial Insemination Products, Embryo Transfer Technologies
5) By Feed Additives: Probiotics, Enzymes, Nutraceuticals
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What Trends Are Shaping The Animal Biotechnology Market?
A significant trend in the animal biotechnology market revolves around product innovation. Notably, well-established market players are directing their resources towards the development of advanced solutions such as Virus-Like Particle (VLP) technology, which is predominantly employed in the creation of vaccines. A case in point is Cadila Pharmaceuticals, a global pharmaceutical firm based out of India, which announced the release of their tri-dose rabies vaccine in April 2022 using VLP technology, dubbed ThRabis. In simpler terms, VLPs are a novel approach to vaccine development where multiprotein structures mirror the shape and size of virus particles, minus the viral genome. This creates safer, cost-effective vaccine alternatives. ThRabis is based on recombinant nanoparticle-based rabies G protein, which stimulates the production of antibodies against the same protein, neutralizing the virus and preventing its attachment to cells, thereby providing immunity against rabies.
Who Are the Key Players In The Animal Biotechnology Market?
Major companies operating in the animal biotechnology market include:
• Zoetis Inc.
• Boehringer Ingelheim International GmbH
• Biogenesis Bago SA
• Merck & Co Inc.
• Virbac
• Elanco Animal Health Incorporated
• Randox Laboratories Ltd.
• Santa Cruz Biotechnology Inc.
• IDEXX Laboratories Inc.
• IDVet
• Heska Corporation
• INDICAL BIOSCIENCE GmbH
• BioChek BV
• Ceva Santé Animale
• Dalan Animal Health
• Vetigenics
• Vetoquinol S.A.
• Neogen Corporation
• Abaxis Inc.
• Henry Schein Animal Health
• Patterson Companies Inc.
• Covetrus Inc.
• Phibro Animal Health Corporation
• Novartis Animal Health
• Bayer AG
• Bioniche Life Sciences Inc.
• Bio-Rad Laboratories Inc.
• Biovet JSC
• Bovogen Biologicals Pty Ltd.
What Are The Regional Insights Into The Animal Biotechnology Market?
North America was the largest region in the animal biotechnology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the animal biotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
