GLOBAL ANIMAL BIOTECHNOLOGY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Animal biotechnology is the use of biological processes and systems in animals to develop or modify products and processes for specific use. It involves the genetic engineering and cloning of animals for producing new drugs and vaccines. The growing demand for livestock products coupled with the rising prevalence of animal diseases is augmenting the demand for animal biotechnological applications. Techniques such as in-vitro fertilization, artificial insemination, and embryo transfer are improving livestock production efficiency and quality. Moreover, animal cloning and stem cell research are finding applications in regenerative medicine and disease modeling. The global animal biotechnology market is expected to witness significant growth over the forecast period owing to the increasing R&D investments by key players in this field.

 Market Dynamics:

The global animal biotechnology market is driven by factors such as increasing consumption of animal-derived proteingeins, rising prevalence of zoonotic diseases, and growing demand for transgenic animals. Growing population and increasing per capita income in developing countries are fueling the demand for meat and dairy products, which is propelling research activities in animal biotechnology. However, high R&D costs associated with animal biotechnology and ethical issues regarding animal cloning are restraining the growth of this market. The development of advanced reproductive techniques and increasing applications of stem cells in livestock production provide lucrative opportunities for market players.

For instance, on May 15, 2023, according to a report published by the Centers for Disease Control and Prevention, zoonotic diseases are very common, both in the U.S. and around the world, while it is estimated that more than six out of every 10 known infectious diseases in people can be spread from animals, and three out of every four new or emerging infectious diseases in people come from animals.

Key features of the study:

• This report provides an in-depth analysis of the global animal biotechnology market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global animal biotechnology market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Heska Corporation, Indian Immunologicals Ltd., HESTER BIOSCIENCES LIMITED, Zoetis Inc. , Boehringer Ingelheim International GmbH, Biogénesis Bagó, Merck & Co., Inc., Virbac, Elanco, Cadila Pharma, Thermo Fisher Scientific Inc. , Idexx Laboratories, Randox Laboratories Ltd. , Gold Standard Diagnostics. , Bionote USA Inc., Meiji Holdings Co., Ltd., Kemin Industries, Inc., and Pfizer Inc. 
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global animal biotechnology market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global animal biotechnology market

Detailed Segmentation:

• Global Animal Biotechnology Market, By Product Type
  • Diagnostics Tests
  • Vaccines
  • Drugs
  • Reproductive and Genetic
  • Feed Additives
  • Others
• Global Animal Biotechnology Market, By Application
  • Diagnosis of Animal Diseases
  • Treatment of Animal Diseases
  • Preventive Care of Animals
  • Drug Development
  • Others
• Global Animal Biotechnology Market, By Animal Type
  • Companion
    • Dogs
    • Cats
    • Horses
    • Others
  • Livestock
    • Poultry
    • Swine
    • Cattle
    • Sheep & Goats
    • Others
• Global Animal Biotechnology Market, By End User
  • Veterinary Laboratories
  • Point-of-Care Testing/In-house Testing
  • Veterinary Hospitals & Clinics
  • Others
• Global Animal Biotechnology Market, By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa
• Global Animal Biotechnology Market, Key Players
  • Heska Corporation
  • Indian Immunologicals Ltd.
  • HESTER BIOSCIENCES LIMITED
  • Zoetis Inc.
  • Boehringer Ingelheim International GmbH
  • Biogénesis Bagó
  • Merck & Co., Inc.
  • Virbac
  • Elanco
  • Cadila Pharma
  • Thermo Fisher Scientific Inc.
  • Idexx Laboratories
  • Randox Laboratories Ltd.
  • Gold Standard Diagnostics.
  • Bionote USA Inc.
  • Meiji Holdings Co., Ltd.
  • Kemin Industries, Inc.
  • Pfizer Inc.