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Veterinary Biologics Global Market Size, Share Report, Growth Prospects, Developments Plans, Future Insights and Trends Analysis Till 2033 | Bayer AG, Zoetis Inc., VCA Inc., Nutreco N.V., Hologic Inc.
Veterinary Biologics Market
As per the report, the veterinary biologics market size has grown strongly in recent years. It will grow from $11.77 billion in 2023 to $12.78 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. 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%.
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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.
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.
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
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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
Contents of the report:
1. Executive Summary
2. Veterinary Biologics Market Report Structure
3. Veterinary Biologics Market Trends And Strategies
4. Veterinary Biologics Market - Macro Economic Scenario
5. Veterinary Biologics Market Size And Growth
…..
27. Veterinary Biologics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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