Veterinary Biologics Market to reach a substantial worth of US$ 13,140.6 million by 2024. This trend is set to unlock new market opportunities, fueling a predicted compound annual growth rate (CAGR) of 6.3% between 2024 and 2034, with a total valuation of approximately US$ 24,224.3 million by the end of that year.
A key driver of this market growth is the exploration of regenerative medicine applications in veterinary healthcare. The development of biologics for tissue repair and regeneration represents a promising avenue for market expansion, catering to the evolving needs of companion animals and livestock alike.
As veterinary medicine embraces innovative approaches to address diverse health challenges, the Veterinary Biologics Market stands at the forefront of advancing animal welfare and enhancing healthcare outcomes. From breakthroughs in regenerative therapies to advancements in preventive care, every milestone propels the industry towards a future of excellence in veterinary healthcare.
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Amidst the burgeoning demand for seafood and the rapid expansion of aquaculture, the focus shifts towards developing vaccines and biologics to combat diseases plaguing fish and aquatic species, bolstering the sustainability of the aquaculture industry. This concerted effort not only safeguards the health of marine life but also ensures the resilience and longevity of aquaculture operations worldwide.
In parallel, the livestock sector embraces precision farming practices, leveraging sensors, IoT devices, and data analytics to optimize animal health and productivity. This technological integration presents fertile ground for the development of biologics aligned with the principles of precision agriculture, revolutionizing animal healthcare and enhancing efficiency across the supply chain.
The prevalence of vector-borne diseases, such as Lyme disease and heartworm, underscores the need for targeted biologics aimed at combating both vectors and the pathogens they transmit. Government initiatives and funding for disease control programs further catalyze opportunities for the development and distribution of veterinary biologics, safeguarding the well-being of livestock and wildlife alike.
Advancements in genomic surveillance technologies empower precise tracking and monitoring of pathogens, paving the way for tailored biologics and vaccines tailored to the unique strains circulating in animal populations. Moreover, the integration of diagnostics and companion diagnostics with veterinary biologics enhances the ability to identify specific health conditions and tailor treatment strategies, fostering a personalized approach to animal healthcare.
Amidst a landscape ripe with innovation, increased investments in startups and biotech companies specializing in veterinary biologics signal a burgeoning interest in the sector, promising a wave of innovative products poised to shape the future of animal health and well-being.
Key Takeaways from the Veterinary Biologics 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 US$ 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 Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape from the Veterinary Biologics Market:
Prominent players in the veterinary biologics market are 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 Players:
- 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
- Bimeda Inc. (Texas Vet Lab Inc.)
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