NEW YORK, Dec. 1, 2023 /PRNewswire/ — The animal biotechnology market size is expected to grow by USD 3.65 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 3.01% during the forecast period, according to Technavio Research. The market is segmented by Product (Drugs, Vaccines, Diagnostic tests, and Others), Animal Type (Livestock/production and Companion), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 47% to the growth of the global market during the forecast period. The growth of the region can be attributed to the significant rise in pet adoption, increase in awareness regarding animal healthcare, advanced veterinary healthcare infrastructure, increasing demand for animal-based products, and the presence of prominent vendors in the region. The demand for drugs and vaccines for animals is likely to increase in the country during the forecast period due to the increasing expenditure on animal healthcare. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a FREE PDF Sample Report
Anicell BioTech, Bayer AG, Biogenesis Bago SA, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc., EW Group GmBH, Genus Plc, Heska Corp., Hester Biosciences Ltd., IDEXX Laboratories Inc., Ivaoes LLC, Merck and Co. Inc., Neogen Corp., Pfizer Inc., Randox Laboratories Ltd., Santa Cruz Biotechnology Inc., Vimian Group AB, Virbac Group, Z Link Biotech Co. Ltd., Zeus Biotech Pvt. Ltd.
Bayer AG – The company offers animal biotechnology such as animal disease treatment through Bayer Animal Pharmaceuticals.
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Animal Biotechnology Market: Segmentation Analysis
The drugs segment will be significant during the forecast period. Foot and mouth disease (FMD), salmonella, swine fever, avian influenza, and bovine respiratory disease (BRD) are some of the major diseases in animals cured using drugs. Furthermore, antiparasitic drugs can be used to treat commonly occurring bacterial diseases in animals raised on farms. The diseases include respiratory and gastrointestinal infections. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report
“Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021”- Technavio
Animal Biotechnology Market: Driver & Trend:
- Increasing growth strategies of market players
- Growing focus on animal cloning
- Use of transgenic animals to produce recombinant proteins
Animals whose genome has changed to carry genes from another species are called transgenic animals and transgenesis is a process or technique that involves the introduction of foreign DNA sequences into the genome of transfected cells. This process is carried out to achieve a higher growth rate, improvement in feed utilization, and increased resistance to disease, among many others.
Advancements in R&D for animal biotechnology are an emerging market trend during the forecast period. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.
The marine biotechnology market size is estimated to grow at a CAGR of 9.85% between 2022 and 2027. The size of the market is forecast to increase by USD 4,370.04 million.
The recombinant proteins market size is estimated to grow at a CAGR of 9.46% between 2022 and 2027. The market size is forecast to increase by USD 650.96 million.
What are the key data covered in this animal biotechnology market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the animal biotechnology market between 2023 and 2028.
- Precise estimation of the animal biotechnology market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the animal biotechnology market across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of animal biotechnology market vendors.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Animal Type
Market Segmentation by Geography
Drivers, Challenges, & Trends
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