Press release
Veterinary Biologics Market 2024-2033: Size, Share & Competitive Landscape
The veterinary biologics market size is expected to see strong growth in the next few years. It will grow to $17.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to emerging infectious diseases, climate change and disease patterns, precision livestock farming, one health approach, increased pet ownership trends. Major trends in the forecast period include education and training programs, eco-friendly and sustainable biologics, integration of digital health records, rise in companion animal biologics, customized and targeted therapies.
Market Overview -
Veterinary biologics refers to biological products derived from living organisms, such as bacteria, viruses, or other microorganisms. Veterinary biologics are used in veterinary medicine to prevent, diagnose, or treat animal diseases.
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Surging Prevalence Of Animal Diseases Sparks Growth In The Veterinary Biologics Market
The rise in the prevalence of animal diseases is expected to propel the growth of the veterinary biologics market. 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. For instance, in October 2022, according to the European Center for Disease Prevention and Control, a Sweden-based health agency of the European Union, a total of 2,467 avian influenza outbreaks in poultry, affecting 48 million birds, were recorded. 187 cases were detected in captive birds. Furthermore, in July 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations, rabies kills 59,000 people annually in over 150 nations, with 95% of cases occurring in Africa and Asia. Therefore, the increasing cases of animal diseases are driving the veterinary biologics.
Competitive Landscape -
Major companies operating in the veterinary biologics market report 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, KM Biologics
Advancements In Veterinary Biologics Market Through Novel Approaches In Treating Chronic Conditions
Developing novel biologics is a key trend gaining popularity in the veterinary biologics market. 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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Key Segments -
The veterinary biologics market covered in this report is segmented -
1) By Product: Vaccines, Diagnostic Kits, Immunomodulators, Antiserums And Antibodies, Other Products
2) By Disease Type: Bluetongue, Foot And Mouth Disease, Brucellosis And Tuberculosis, Other Diseases
3) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Other Distribution Channels
4) By Application: Production Animal, Companion Animal
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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