Press release
Veterinary Biologics Market is projected to reach US$ 18 Billion by the end of 2029
Rising trend of pet ownership across the world has increased concerns related to pet health, resulting in rising demand for veterinary biologics. According to the American Pet Products Association (APPA), around 67% of U.S. households own a pet, which is a significant rise of 56% since 1988. Preventive veterinary biologics such as vaccines are most widely used as prophylactic treatment. Increase in usage of prophylactic veterinary biologics is primarily attributed to growing awareness about better pet health management and risk of various diseases such as rabies. Recently, the World Health Organization (WHO) endorsed the use of veterinary biologics such as monoclonal antibodies over blood-derived rabies immunoglobulin. Such endorsements and quest for more safe & effective veterinary biologics have resulted in increased R&D spending.The global veterinary biologics market is expected to exhibit a CAGR of 7% during the forecast period (2019–2029).
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Key Takeaways of Veterinary Biologics Market Study
Owing to rapid adoption of vaccines as a prophylactic treatment for better herd immunity, the segment is expected to be a significant revenue generator.
Growing adoption of monoclonal antibodies for dermal disorder treatment in companion animals is anticipated to contribute to the dominance of the segment during the forecast period.
Rising prevalence of infectious diseases in livestock has boosted the demand for veterinary biologics. Livestock is expected to be a significant revenue generating segment by animal type, during the forecast period.
By distribution channel, the veterinary biologics market is dominated by veterinary clinics in terms of revenue, owing to direct customer contact for bulk orders.
Europe is anticipated to be the most lucrative region in terms of revenue, due to growing adoption of animals for commercial use. East Asia is expected to witness notable growth during the forecast period.
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Mergers & Acquisitions Key Strategy of Veterinary Biologic Manufacturers
Manufacturers such as Boehringer Ingelheim International GmbH, Zoetis Inc., etc., are engaging in mergers & acquisitions with small and medium regional players in the veterinary biologics market in order to streamline their product offerings in respective regions with diverse product portfolios.
More Valuable Insights on Veterinary Biologics Market
Future Market Insights brings a comprehensive research report on forecast revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each segment from 2014 to 2029. The global veterinary biologics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the veterinary biologics market on the basis of product type (vaccines, monoclonal antibodies, bacterial extracts, immunomodulators, and allergenic extracts), animal type (companion animals, livestock, and equine), and distribution channel (veterinary clinics, veterinary hospitals, veterinary research institutes, and retail pharmacies), across seven major regions.
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VETERINARY BIOLOGICS MARKET TAXONOMY
The global veterinary biologics is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Product
Vaccines
Attenuated Live Vaccines
Conjugate Vaccines
Inactivated Vaccines
Subunit Vaccines
Toxoid Vaccines
DNA Vaccines
Recombinant Vaccines
Bacterial Extracts
Monoclonal Antibodies
Immunomodulators
Cytokines
Others
Allergenic Extracts
Animal Type
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
Europe
East Asia
South Asia
Oceania
Middle East & Asia (MEA)
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