The global veterinary biologics market is anticipated to reach a valuation of USD 13,140.6 million in 2024, driven by animal welfare regulations. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 6.3% between 2024 and 2034, and reaching a total valuation of approximately USD 24,224.3 million by 2034.
One of the major factors contributing to the growth of the market is the exploration of regenerative medicine applications in veterinary healthcare, including the development of biologics for tissue repair and regeneration, which represents a potential avenue for market expansion.
The increasing demand for seafood and the growth of aquaculture have led to a focus on developing vaccines and biologics to address diseases affecting fish and other aquatic species, contributing to the sustainability of the aquaculture industry. The adoption of precision farming practices in the livestock sector, including the use of sensors, IoT devices, and data analytics, presents opportunities for the development of biologics that align with the principles of precision agriculture to optimize animal health and productivity.
The prevalence of vector borne diseases in animals, such as Lyme disease and heartworm, creates opportunities for the development of biologics targeting the vectors or the pathogens transmitted by them. Government initiatives and funding for disease control programs in livestock and wildlife can create opportunities for the development and distribution of veterinary biologics. Advancements in genomic surveillance technologies enable more accurate tracking and monitoring of pathogens, which can lead to the development of targeted biologics and vaccines tailored to the specific strains of pathogens circulating in animal populations.
The integration of diagnostics and companion diagnostics with veterinary biologics can enhance the ability to identify specific health conditions and tailor treatment strategies, promoting a more personalized approach to animal healthcare. Increased investments in startups and biotech companies specializing in veterinary biologics indicate a growing interest in the sector and may lead to the development of innovative products.
Key Takeaways from the Market Study:
- From 2019 to 2023, the market demand expanded at a CAGR of 7.2%.
- The market in China is expected to expand at a CAGR of 8.1% through 2034.
- By animal, the livestock segment to account for a market share of 52.1% in 2024.
- From 2024 to 2034, veterinary biologics market is expected to flourish at a CAGR of 6.3%.
- By 2034, the market value of veterinary biologics is expected to reach USD 24,224.3 million.
“Changing climate patterns can influence the distribution of disease vectors and the prevalence of certain diseases. Veterinary biologics may play a crucial role in adapting to and mitigating the impact of climate change on animal health,” remarks an FMI analyst.
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Competitive Landscape:
Prominent players in the veterinary biologics market are Top of Form Elanco Animal Health, Ceva, Phibro Animal Health Corporation, Boehringer Ingelheim, Zoetis Inc., Merck & Co., Inc., Virbac, Hester Biosciences Limited, Colorado Serum Company, Addison Biological Laboratory, Inc., American Animal Health, Inc., HIPRA, and Bimeda Inc. (Texas Vet Lab, Inc.), among others.
Company Portfolio:
- Boehringer Ingelheim is a key player with a strong focus on vaccines and biologics for various animal species. The emphasis of the company on disease prevention and control contributes to its competitiveness in the market.
- Elanco, known for its comprehensive animal health solutions, has a significant presence in the veterinary biologics market. The portfolio of the company includes vaccines and other biologic products for both companion animals and livestock.
Key Segments in the Veterinary Biologics Market Report:
Product:
- Vaccines
- Attenuated Live Vaccines
- Conjugate Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Toxoid Vaccines
- DNA Vaccines
- Recombinant Vaccines
- Bacterial Extracts
- Monoclonal Antibody
- Immunomodulatory
- Cytokines
- Others
- Allergenic Extracts
Animal:
- Companion Animals
- Canine
- Avian
- Feline
- Livestock
- Aquatic
- Bovine
- Porcine
- Ovine/Caprine
- Poultry
- Equine
Distribution Channel:
- Veterinary Clinics
- Veterinary Hospitals
- Veterinary Research Institutes
- Retail Pharmacies
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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