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The global animal biotechnology market size was US$ 21.1 billion in 2021. The global animal biotechnology market is expected to grow to US$ 45.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2022 to 2030.
Animal biotechnology refers to the method used to genetically engineer animals with the use of molecular biology techniques. The technique makes the animals more beneficial for pharmaceutical, agricultural, or industrial purposes.
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Factors Influencing the Market
The global animal biotechnology market is primarily influenced by the growing prevalence of animal diseases and rising cases of zoonotic diseases. Further, the growing pet ownership, rising demand for meat and animal-based products, and increasing use of animals in agriculture practices are expected to contribute to the growth of the market during the analysis period.
Growing R&D efforts, expanding demand for animals, and favorable government rules, will present potential prospects for market growth during the analysis period. Additionally, the expansion of the biotechnology market is anticipated to be fueled by the rising public awareness of animal genetic testing.
The increasing number of launches related to innovative vaccines that are useful and simple to use, like recombinant vaccines, Anti-idiotype vaccinations, synthetic vaccines, and subunit vaccines, is projected to help the growth of the global animal biotechnology market. These vaccines are crucial for preserving preventative health and disease control and are a useful tool for lowering the burden of animal illness.
Regional Analysis
North America’s animal biotechnology market is expected to garner the highest market share due to the presence of well-known vendors and the rising adoption of pet animals in the region. Additionally, the rising knowledge about the necessity to keep animals healthy is expected to contribute to the growth of the market.
The market will also be fuelled by the rising improvements in veterinary healthcare infrastructure, combined with the growing demand for medications and vaccines for animals.
COVID-19 Impact Analysis
The COVID-19 pandemic outbreak has put an excessive amount of strain on public health systems in many countries and highlighted the urgent need for long-term investments in healthcare infrastructure. Nearly everyone was forced to work remotely due to the COVID-19 outbreak. Due to the pandemic’s restrictions on veterinary clinic visits, medium- and small-sized enterprises had challenges. Countries like Romania have outlawed exports to countries outside the European Union, which has severely hampered the supply-demand balance in the animal feed industry. Additionally, the demand for feed additives also decreased due to the sharp reduction in global fish and meat consumption. Therefore, such factors describe the negative impact of the COVID-19 pandemic on the animal biotechnology market.
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Competitors in the Market
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.
Other Prominent Players
Market Segmentation
The global animal biotechnology market segmentation focuses on Animal, Product, Application, End-Use, and Region.
By Animal Type
Companion
o Dogs
o Horses
o Cats
o Others
Livestock
o Poultry
o Swine
o Cattle
o Fish
o Sheep/Goats
o Others
By Product Type
Drugs
Diagnostic Test
Vaccinations
Feed Additives
Reproductive and Genetic
By Application
Food safety & Drug Development
Preventive care of Animals
Treatment of Animal Diseases
Diagnosis of Animal Diseases
Others
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By End-Use
Veterinary Hospitals and clinics
Point of care testing or In House Testing
Laboratories
Others
By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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