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Animal Biotechnology Market Trends That Will Shape the Next Decade: Insights from Virus-Like Particle Technology Revolutionizing The Animal Biotechnology Market
Animal Biotechnology
How Large Will the Animal Biotechnology Market Size By 2025?
The market size of animal biotechnology has seen significant expansion in the recent past. There's an expected rise from $30.33 billion in 2024 to $32.89 billion in 2025 with a compound annual growth rate of 8.5%. The historical period witnessed an expansion due to factors like genetic advancement, improvement in agricultural productivity, advances in vaccines and therapies, environmental sustainability, efficiency in feed, enhancement of nutrition, and reducing the impact on the environment.
How Big Is the Animal Biotechnology Market Size Expected to Grow by 2029?
The market size of animal biotechnology is predicted to experience a swift hike in the coming years, with an estimated worth of $48.36 billion in 2029 and a compound annual growth rate of 10.1%. This growth over the forecasted period is due to various factors such as the creation of disease-resistant strains, production of biopharmaceuticals, the manufacture of cell-based meat, worldwide concerns over food security, regulatory backing, and acceptance by the public and consumers. In the same forecast period, some noteworthy trends include genome editing technologies, animal stem cell techniques, animal-based biopharmaceutical production, bio-banking, preservation of genetic resources, the rise of Crispr-based treatment methods, and surveillance of diseases and biosecurity.
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Which Key Market Drivers Powering Animal Biotechnology Market Expansion and Growth?
The increasing understanding of animal health and welfare is anticipated to push the animal biotechnology market upward. The subjects of animal health and welfare involve how humans interact with animals and their duty to ensure that the animals under their care are treated properly and with care. In terms of animal health and welfare, animal biotechnology aids in enhancing animal output by increasing growth, reproduction quality, nutrition, feed utilization, food security, and other elements for more efficient use of resources. For example, the Humane Society initiated the More Than a Pet campaign in May 2023, underscoring the importance of equal access to veterinary services, especially for disadvantaged communities. More than 14,800 pets were delivered 64,000 services in 2023 through this initiative via community outreach programs designed to enhance animal welfare in underprivileged areas. The initiative aims to offer essential veterinary care and support to enhance the health of animals in underserved areas. Therefore, the heightened awareness regarding animal health and welfare is fueling the expansion of the animal biotechnology market.
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Which Fast-Growing Trends Are Poised to Disrupt the Animal Biotechnology Market?
In the animal biotechnology market, product innovation emerges as a primary trend. The major participants in the market are focusing their energy on inventing groundbreaking products, such as the virus-like particle (VLP) technology for developing vaccines. For example, in April 2022, Cadila Pharmaceuticals, a multinational pharmaceutical corporation from India, unveiled a three-dose rabies vaccine crafted using virus-like particle technology called ThRabis. Virus-like particles (VLPs) are a vaccine creation method that employs multiprotein structures to imitate the shape and size of a virus particle, but excludes the viral genome, potentially producing safer and more affordable vaccine candidates. ThRabis is constructed from recombinant nanoparticle-based rabies G protein, producing antibodies against rabies G protein that neutralizes the virus and hinders the virus from attaching to the cell, achieving rabies protection.
What Are the Emerging Segments in the Animal Biotechnology Market?
The animal biotechnology market covered in this report is segmented -
1) By Product Type: Diagnostics Tests, Vaccines, Drugs, Reproductive And Genetic, Feed Additives
2) By Animal Type: Companion, Livestock
3) By Application: Diagnosis Of Animal Diseases, Treatment Of Animal Diseases, Preventive Care Of Animals, Drug Development, Other Applications
4) By End-Use: Laboratories, Point-Of-Care Testing Or In-house Testing, Veterinary Hospitals And Clinics, Other End-Uses
Subsegments:
1) By Diagnostics Tests: Immunodiagnostic Tests, Molecular Diagnostic Tests, Biochemical Diagnostic Tests
2) By Vaccines: Inactivated Vaccines, Live Attenuated Vaccines, Recombinant Vaccines
3) By Drugs: Antimicrobial Drugs, Anti-Inflammatory Drugs, Hormonal Drugs
4) By Reproductive And Genetic: Genetic Testing Services, Artificial Insemination Products, Embryo Transfer Technologies
5) By Feed Additives: Probiotics, Enzymes, Nutraceuticals
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Who Are the Global Leaders in the Animal Biotechnology Market?
Major companies operating in the animal biotechnology market are Zoetis Inc., Boehringer Ingelheim International GmbH, Biogenesis Bago SA, Merck & Co Inc., Virbac, Elanco Animal Health Incorporated, Randox Laboratories Ltd., Santa Cruz Biotechnology Inc., IDEXX Laboratories Inc., IDVet, Heska Corporation, INDICAL BIOSCIENCE GmbH, BioChek BV, Ceva Santé Animale, Dalan Animal Health, Vetigenics, Vetoquinol S.A., Neogen Corporation, Abaxis Inc., Henry Schein Animal Health, Patterson Companies Inc., Covetrus Inc., Phibro Animal Health Corporation, Novartis Animal Health, Bayer AG, Bioniche Life Sciences Inc., Bio-Rad Laboratories Inc., Biovet JSC, Bovogen Biologicals Pty Ltd.
Which are the Top Profitable Regional Markets for the Animal Biotechnology Industry?
North America was the largest region in the animal biotechnology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the animal biotechnology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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