Press release
Veterinary Autoimmune Disease Therapeutics Market Growth Accelerates: Strategic Forecast Predicts $4.48 Billion by 2029
Veterinary Autoimmune Disease Therapeutics
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What Will the Veterinary Autoimmune Disease Therapeutics Industry Market Size Be by 2025?_x000D_
In the recent years, there has been a significant increase in the size of the veterinary autoimmune disease therapeutics market. It is projected to expand from $3.25 billion in 2024 to $3.47 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.8%. Factors such as progress in immunology, a surge in pet ownership, enhanced diagnostic techniques, the creation of new drug categories, and heightened consciousness regarding pet health all have contributed to the historic period's growth._x000D_
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What's the Long-Term Growth Forecast for the Veterinary Autoimmune Disease Therapeutics Market Size Through 2029?_x000D_
In the coming years, the market size for therapeutics treating autoimmune diseases in animals is expected to experience notable growth. The market is projected to increase to $4.48 billion by 2029, at a compound annual growth rate (CAGR) of 6.6%. This growth during the forecast period can be attributed to advancements in biotechnology, an increasing financial investment in healthcare for animals, a rising incidence of autoimmune diseases in pets, the development of new therapeutic methods, and an increase in pet insurance adoption. Key trends for the forecast period encompass personalized medical treatments, use of biologic treatments, harnessing of telemedicine, utilization of regenerative therapies, and a focus on comprehensive and integrative treatments._x000D_
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What Are the Key Growth Drivers Fueling the Veterinary Autoimmune Disease Therapeutics Market Expansion?_x000D_
Rising investments in research related to veterinary medicine are anticipated to fuel the expansion of the veterinary autoimmune disease therapeutics market. Veterinary medicine, which encompasses the prevention, diagnosis and cure of diseases, disorders and injuries among animals, is witnessing increased funding owing to the surge in zoonotic diseases, burgeoning pet industry, advances in the field of animal health technology, agricultural needs and endeavors towards wildlife conservation. The funding for veterinary autoimmune disease research aids studies on disease procedures, diagnostic methods and treatment options, thereby improving veterinary medicine's capability to effectively identify and manage these disorders. For example, in August 2024, the Veterinary Service Grants Program (VSGP) with the National Institute of Food and Agriculture, a US-based agricultural department, declared an investment of $3.2 million in rural food animal veterinary medicine in the 2022 fiscal year, across the United States. Thus, the upswing in research funding for veterinary medicine is propelling the growth of the veterinary autoimmune disease therapeutics market._x000D_
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What Are the Key Trends Driving Veterinary Autoimmune Disease Therapeutics Market Growth?_x000D_
Prominent businesses in the veterinary autoimmune disease therapeutics market are concentrating on creating cutting-edge solutions, like RenBiologics, to meet significant industry expectations. This entity is renowned for designing pioneering treatments for kidney-related illnesses and chronic ailments using biologics and regenerative medicine, especially aiming at enhancing the success rate of renal function and transplants. Notably, in January 2024, RenBiologics, a new sub-brand, was introduced by Biocytogen, a biotech company based in China. This initiative aims to take advantage of Biocytogen's extensive collection of over 400,000 fully human antibody sequences, created via its exclusive RenMice platforms. These platforms promote RenBiologics to establish alliances with pharma and biotech firms for the joint development and licensing of these antibodies, thus magnifying the possibility for innovative antibody-based therapies. This introduction mirrors Biocytogen's dedication to becoming an international hub for antibody discovery, with an objective to swiftly advance the development of inventive treatments across different therapeutic areas._x000D_
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How Is the Veterinary Autoimmune Disease Therapeutics Market Segmented?_x000D_
The veterinary autoimmune disease therapeutics market covered in this report is segmented - _x000D_
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1) By Therapy Type: Corticosteroids, Azathioprine, Cyclosporine, Mycophenolate, Leflunomide, Cyclophosphamide, Levothyroxine, Folic Acid, Hydroxychloroquine, Chloroquine_x000D_
2) By Animal Type: Companion Animals, Livestock Animals, Other Animals_x000D_
3) By Disease: Hypothyroidism, Pemphigus Disease, Canine Lupus, Auto-Immune Hemolytic Anemia, Bullous Pemphigoid, Discoid Lupus Erythematosus (DLE), Immune-Related Arthritis, Other Diseases_x000D_
4) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics_x000D_
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Subsegments:_x000D_
1) By Corticosteroids: Prednisone, Prednisolone, Dexamethasone, Methylprednisolone, Triamcinolone _x000D_
2) By Azathioprine: Azathioprine Oral Tablets, Azathioprine Injectable Formulation _x000D_
3) By Cyclosporine: Oral Cyclosporine (Atopica), Injectable Cyclosporine _x000D_
4) By Mycophenolate: Mycophenolate Mofetil (Oral Form), Mycophenolate Sodium (Injectable Form) _x000D_
5) By Leflunomide: Leflunomide Tablets (Oral), Leflunomide Injection _x000D_
6) By Cyclophosphamide: Oral Cyclophosphamide, Injectable Cyclophosphamide _x000D_
7) By Levothyroxine: Levothyroxine Sodium Tablets (Oral), Levothyroxine Sodium Injection _x000D_
8) By Folic Acid: Folic Acid Supplements (Oral), Injectable Folic Acid _x000D_
9) By Hydroxychloroquine: Hydroxychloroquine Tablets (Oral), Hydroxychloroquine Injectable Formulation _x000D_
10) By Chloroquine: Chloroquine Tablets (Oral), Chloroquine Injectable Formulation_x000D_
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Which Companies Are Leading the Charge in Veterinary Autoimmune Disease Therapeutics Market Innovation?_x000D_
Major companies operating in the veterinary autoimmune disease therapeutics market are Pfizer Inc, Merck & Co Inc, AbbVie Inc., Sanofi S.A., Novartis AG, GlaxoSmithKline, Takeda Pharmaceutical Company, Amgen Inc., Teva Pharmaceuticals Industries Ltd., Zoetis Inc, Boehringer Ingelheim International GmbH, Sumitomo Pharma Co. Ltd., IDEXX Laboratories Inc., Cipla Inc., Mallinckrodt Pharmaceuticals, Virbac S.A, Dechra Pharmaceuticals plc, Neogen Corporation, Vetoquinol S.A., Norbrook Laboratories Limited, Heska Corporation, Bimeda Holdings PLC, Bayer Animal Health Inc, Aratana Therapeutics Inc, Hester Biosciences Limited_x000D_
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Which Regions Are Leading the Global Veterinary Autoimmune Disease Therapeutics Market in Revenue?_x000D_
North America was the largest region in the veterinary autoimmune disease therapeutics market in 2023. The regions covered in the veterinary autoimmune disease therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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