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Veterinary Biologics Market trends, Top Companies, Share, Growth And Forecast 2032
Veterinary Biologics Market
The Business Research Company's Veterinary Biologics Global Market Report 2023 identifies the rise in the prevalence of animal diseases as the major driver for the veterinary biologics market's growth in the forecast period. Animal diseases refer to illnesses or health conditions affecting various animal species. Increasing animal diseases increase the need for better diagnosis and treatment, which can be achieved using veterinary biologics, which use immunological methods to treat animal diseases.
The global veterinary biologics market is expected to grow from $10.81 billion in 2022 to $11.77 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services affecting many markets across the globe. The veterinary biologics market is expected to reach $15.84 billion in 2027 at a CAGR of 7.7%.
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Major competitors in the veterinary biologics market are Bayer AG, Eli Lilly & Company,Evonik Industries AG, Zoetis Inc., VCA Inc., Merck Animal Health Inc., Boehringer Ingelheim Animal Health Inc., Elanco Animal Health, IDEXX Laboratories Inc., Nutreco N.V., Virbac SA, Hologic Inc., Phibro Animal Health Corporation, Vetoquinol, Valneva, Abaxis Inc., Bimeda Biologicals, Ceva Sante Animale S.A., Heska Corporation, Heska Corporation, Colorado Serum Company, Hester Biosciences Limited, INDICAL Bioscience GmbH, Ambrx Biopharma Inc., Adamis Pharmaceuticals Corporation, Intervet Inc., Hebei Veyong Animal Pharmaceutical Co. Ltd.,FidoCure, Biomet Biologics LLC, CytoDyn Veterinary Medicine LLC, and KM Biologics.
A key trend in the veterinary biologics market includes developing novel biologics. Major companies operating in the veterinary biologics market are developing innovative biologics to sustain their position in the market. For instance, in March 2021, Elanco Animal Health Incorporated, a US-based veterinary pharmaceutical company, launched Elura (capromorelin oral solution) to treat weight loss in cats with chronic kidney diseases (CKD). The new drug is the first-ever ghrelin receptor agonist approved by the US Food and Drug Administration, a US-based health regulatory agency. It used a novel mechanism of action to treat weight loss in cats with chronic kidney disease (CKD). It is a flavorful oral solution with a small dosage that can be used as a long-term treatment and introduced at the time of diagnosis to assist cat owners in supporting their animals through this illness.
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The veterinary biologics market is segmented -
• By Product: Vaccines, Diagnostic Kits, Immunomodulators, Antiserums And Antibodies, Other Products
• By Disease Type: Bluetongue, Foot And Mouth Disease, Brucellosis And Tuberculosis, Other Diseases
• By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Other Distribution Channels
• By Application: Production Animal, Companion Animal
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the veterinary biologics market.
The Business Research Company's "Global Veterinary Biologics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Veterinary Biologics Market Include:
1. Executive Summary
2. Veterinary Biologics Market Characteristics
3. Veterinary Biologics Market Trends And Strategies
4. Veterinary Biologics Market - Macro Economic Scenario
5. Global Veterinary Biologics Market Size and Growth
……
32. Global Veterinary Biologics Market Competitive Benchmarking
33. Global Veterinary Biologics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Veterinary Biologics Market
35. Veterinary Biologics Market Future Outlook and Potential Analysis
36. Appendix
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