Yahoo Finance Global Animal Biotechnology Market Size Analysis Projected to Reach USD 48.95 Billion By 2030, at 9.5% CAGR Growth: Polaris Market Research
[115+ Pages Research Study] According to Polaris Market Research report, the global animal biotechnology market size & share expected to generate revenue of USD 48.95 Billion By 2030 and estimated to be valued at USD 22.59 Billion in 2021, at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2030. The top market company profiles included in report with their sales, revenues and strategies are Bayer AG, Boehringer Ingelheim International GmbH, Biogenesis Bago, Ceva, CSL Limited, Elanco, Heska Corporation, Hester Biosciences Limited, Idexx Laboratories and Others.
New York, NY, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “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” in its research database.
“According to the latest research study, the global animal biotechnology market size & share are expected to generate revenue of USD 48.95 Billion by 2030 and are estimated to be valued at USD 22.59 Billion in 2021, at a compound annual growth rate (CAGR) of 9.5% from 2022 to 2030”.
What is the Scope of the Animal Biotechnology Market? How Big is Animal Biotechnology Market Size & Share?
Report Analysis & Overview
Animal biotechnology is a broad field of technology in which molecular biology techniques are used to genetically engineer microorganisms in order to enhance their usefulness for various applications. In agriculture, biotechnology helps to identify the best animals for producing milk or meat and findings animals that are resistant to disease. The production of animal products such as milk or meat is also accelerated by this technology.
Animal biotechnology is promising fruitful results in the field of pharmaceutical, agricultural, or industries due to the recent development in sequencing gene expression, animal genomes, and metabolic profiling of animal cells. The rising demand for animal biotechnology for various purposes in different fields is driving the animal biotechnology market size. Another aspect contributing to the market growth is the rise in demand for the usage of animals in agriculture, meat, and animal-based products.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
2030 Updated Report Introduction, Overview, and In-depth industry analysis.
115+ Pages Research Report (Inclusion of Updated Research).
Provide Chapter-wise guidance on Requests.
2022 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
Includes Updated List of tables & figures.
Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Key Offerings of This Report
Market size and share assessment for regional and country-level segments.
Business opportunities, drivers, and success factors.
Current trends and the future potential of the market.
Market segment analysis by types, applications, and regions.
The competitive status of key players within the project timeline.
Value chain analysis with price analysis and market forecast.
Region-specific growth and development in the market.
Some of the Top Companies in the Global Market 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
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Market Dynamics
Key Growth Driving Factors
Use of biotechnology for disease treatment in animals to push the market growth
Biotechnology incorporates different diagnostic techniques to recognize animal diseases, enable the treatment of these diseases through several treatment methods, and develop pharmaceuticals for use in animals. These factors are propelling the market growth. Rising demand for genetically altered therapeutic proteins for cancer treatment and increasing preventive measures for pets are the further animal biotechnology market trends positively influencing its expansion. Also, factors such as growing public concern over animal welfare and health issues, rise in animal adoption, growing demand for animals for meat production and animal-based products, and use of animals for the production of human pharmaceuticals are anticipated to boost the animal biotechnology market sales over the forecast period.
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Recent Trends Influencing the Market
Rising investments and developments in the animal biotechnology sector are expected to flourish the industry expansion
The increasing number of favorable initiatives and campaigns implemented by the governmental regulatory bodies in order to promote animal health is expected to fuel the demand for animal health biotechnology throughout the projection period. Rising research and development activities in this field accelerate industry expansion.
Further, innovations and recent developments in immunology, molecular biology, and genetic engineering have augmented the market for animal health biotechnology. For instance, in January 2021, the governments of Canada and Ontario announced an investment of $4 million under the Canadian Agricultural Partnership to give growers better access to veterinary services when and where they need them.
Segmental Analysis
The livestock segment accounted for the highest animal biotechnology market share in 2021
Based on animal type, the livestock category held the major revenue share because it is becoming more essential for the expansion of the agriculture field in developing nations. Livestock has experienced major acceptance in a number of countries for agriculture and gross domestic product. Also, the growing urban population, changing dietary and lifestyle patterns, and a surge in cattle output are fueling segment growth.
The vaccine segment dominated the market in 2021
By product type, the vaccine category captured the largest share in the animal biotechnology market owing to the increasing prevalence of animal diseases. The infection of these diseases naturally transmits from animals to humans. Thus, vaccination plays a key role in disease prevention and control in order to lower the illness load in animals.
The preventive care of animal category accounts for the major revenue share in 2021
By application of animal biotechnology market segmentation, the preventive care of animals dominated the market in 2021 due to the growing adaptability of companion animals. The increasing trend of pet parents is part of an initiative to humanize pets. For example, a study conducted by HABRI and Zoetis showed a global phenomenon of the enhanced bond between people and pets, with 95% of study participants reporting they consider their dogs as their family members.
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Animal Biotechnology Market: Report Scope & Trends Analysis
Report Attribute | Details |
Revenue forecast in 2030 | USD 48.95 Billion |
Market size value in 2021 | USD 22.59 Billion |
Expected CAGR Growth | 9.5% from 2022 - 2030 |
Base Year | 2021 |
Forecast Year | 2022 - 2030 |
Top Market Players | Bayer AG, Boehringer Ingelheim International GmbH, Biogenesis Bago, Ceva, CSL Limited, Elanco, Heska Corporation, Hester Biosciences Limited, Idexx Laboratories, Vet India Pvt. Ltd, Indian Immunological Ltd, Intervet International BV, Kareo Inc, Merck and Co.Inc, Novartis AG, NXGN Management LLC, Pfizer Inc, Santa Cruz Biotechnology Inc, Virbac Group, Zoetis Inc. |
Segments Covered | Animal Type, By Product Type, By Application, By End Users, By Region |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
North America held the largest market share in 2021
In terms of geography, the animal biotechnology market in North America acquired the highest revenue share. This growth can be attributed to the presence of key market players, growing awareness of the need for animal healthcare, a rise in pet adoption, growing demand for animal-based products, and enhancement in veterinary healthcare infrastructure.
Moreover, the Asia Pacific region is anticipated to expand owing to the growing middle-class household numbers, increased demand for animal proteins, and the launch of new goods.
Browse the Detail 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” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/animal-biotechnology-market
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Recent Developments
In Oct 2021, The Department of Biotechnology announced the "One Health" program. This program will help in the discovery of transboundary diseases and zoonotic diseases that affect all of India.
In Dec 2021, Indian Immunologicals Ltd (IIL), launched the Goat Pox Vaccine to control Goat Pox Disease.
Frequently Asked Questions
Who are the crucial companies operating the market?
What are the major industry norms influencing the development of the industry?
Which is the most propelling country in the industry?
Which application or product type will obtain progressive development possibilities during the forecast period?
What is the expected growth rate of the market during the foreseen period?
What are the key strategies adopted by companies in the impact market?
What are the main findings of Porter’s five forces analysis and the SWOT analysis of the major companies in the market?
Polaris Market Research has segmented the animal biotechnology market report based on animal type, product type, application, end-user, and region:
By Animal Type Outlook
Companion
Dogs
Horses
Cats
Others
Livestock
Poultry
Swine
Cattle
Fish
Sheep/Goats
Others
By Product Type Outlook
Drugs
Diagnostic Test
Vaccinations
Feed Additives
Reproductive and Genetic
By Application Outlook
Food safety & Drug Development
Preventive care of Animals
Treatment of Animal Diseases
Diagnosis of Animal Diseases
Others
By End-Use Outlook
Veterinary Hospitals and clinics
Point-of-care testing or In– House Testing
Laboratories
Others
By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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