Global Animal Biotechnology Market Size/Share Envisaged to Reach USD 56,949.40 Million By 2032, at 8.8% CAGR: Polaris Market Research

NEW YORK, June 29, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Animal Biotechnology Market Share, Size, Trends, Industry Analysis Report, By Animal Type (Companion and Livestock); By Product Type; By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global animal biotechnology market size/share was valued at USD 24,439.01 Million in 2022 and is expected to touch USD 56,949.40 Million By 2032, growing at a CAGR of 8.8% during the forecast period."

What is Animal Biotechnology? How Big is Animal Biotechnology Market Size & Share?

• Overview

Animal biotechnology is a set of biotechnology in which molecular biology techniques are used to modify the genome of animals in order to enhance their worthiness for agriculture, biomedical, industrial, or pharmaceutical applications. Animal biotechnology has been used to generate modified living creatures that more effectively meet the demands of people. Pets, farm animals, chickens, fish, insects, and lab animals are the types of animals used in animal biotechnology.

Animal biotechnology has several applications, including boosting disease resistance in animals, improving livestock productivity, creating novel therapies and vaccines, and researching human diseases. Increase in demand for the usage of animals in agriculture, meat, and animal-based product is one of the key factors driving the market growth. Animal biotechnology market also involves the development of animals with improved growth rates and the capacity to synthesize therapeutic proteins.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Covered Are:

• Bayer AG
• Boehringer Ingelheim International GmbH
• Biogenesis Bago
• Ceva
• CSL Limited
• Elanco
• Heska Corporation
• Hester Biosciences Limited
• Idexx Laboratories
• Id Vet India Pvt. Ltd
• Indian Immunological Ltd
• Intervet International B.V
• Kareo Inc
• Merck
• Novartis AG
• NXGN Management LLC
• Pfizer Inc
• Santa Cruz Biotechnology Inc
• Zoetis Inc

For Additional Information on Key Players, Request to Download Sample Pages Here: https://www.polarismarketresearch.com/industry-analysis/animal-biotechnology-market/request-for-sample

Prominent Growth Driving Factors

• Role of animal biotechnology in disease identification, diagnosis, and treatment: Animal biotechnology plays a key role in identifying and diagnosing various diseases that affect animals using various diagnostic techniques, which is fueling its demand in various sectors. It uses various diagnostic techniques to treat these diseases and develops pharmaceuticals and vaccines for animal health.
• Demand for genetically modified therapeutic proteins: Growing demand for genetically modified therapeutic proteins that offer improved disease resistance, their increasing application in the treatment of cancer, and the increase in preventative care for pets are the key factors propelling the animal biotechnology market size growth.
• Increasing demand for animals: Rising public concern over animal welfare and health problems, growing use of animals in the development of human pharmaceuticals, and increasing demand for animals in agriculture, meat production, and animal-based products are among the prominent factors supporting the industry expansion.
• Prevalence of animal diseases: The increased prevalence of animal diseases such as infectious diseases, genetic disorders, and chronic conditions also supports the animal biotechnology market growth because animal biotechnology has the ability to treat these diseases using diagnostics, vaccines, and therapeutics. Also, rising cases of zoonotic diseases, such as avian influenza, rabies, and Ebola, which have led to an increased need for effective animal biotechnology solutions, are another factor contributing to the industry growth.

Recent Trends Influencing the Market

• Supportive policies: Developments in cloning and the creation of transgenic animals, which will enhance the animal's resistance to disease, beneficial government policies and supportive approval agencies, as well as increasing R&D activities, are some of the crucial animal biotechnology market trends positively affects its growth.
• Animal genetic testing and advanced vaccines: The rising knowledge about animal genetic testing is further predicted to accelerate the market for animal biotechnology. Growing development of new, new, practical vaccines, including recombinant vaccines, Anti-idiotype vaccinations, synthetic vaccines, and subunit vaccines which all act as an important solution for lowering animal diseases' significance as well as maintaining preventative health and disease control.

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Segmental Analysis

• Livestock segment accounted for the largest market share in 2022

By animal type animal biotechnology market segmentation, livestock category held the major revenue share in 2022 due to the ongoing demand for livestock products, including meat, milk, and eggs. Animal biotechnology has a key role in boosting livestock productivity, creating genetically altered breeds with favorable traits, and improving animal health. Other factors contributing to the segment growth include the growing requirement for safe and efficient livestock production to fulfill rising global food demand while taking into account optimal animal welfare and environmental stewardship.

• In 2022, veterinary hospitals and clinics witnessed the highest share of market

Based on end-use, veterinary hospitals, and clinics captured the greatest revenue share owing to the availability of a number of treatment and diagnostic options by them. The rise in incidences of zoonotic diseases due to globalization and climate change has led to a surge in demand for diagnostic techniques in veterinary settings. In veterinary hospitals and clinics, advanced diagnostic techniques like molecular diagnostics, imaging technologies, and fast tests are now accessible that allows correct and suitable disease diagnosis.

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What is the Scope of Animal Biotechnology?

• Animal Biotechnology Market: Report Scope

Geographical Overview

• North America registered the largest animal biotechnology market share in 2022

On the basis of geography, North America dominated the market, accounting for the highest share. This growth can be attributed to factors including the availability of highly technologically advanced healthcare infrastructure like veterinary services and research institutions.  Further, region's increased focus on animal health and welfare is expected to boost the demand for advanced biotechnological solutions in the livestock sector.

Moreover, the animal biotechnology market in North America includes a significant concentration of biotechnology organizations and research companies that support the development and marketing of novel animal biotechnology products. In addition, favorable regulatory frameworks, a flourishing investment environment, and beneficial government actions augment the regional market growth.

Browse the Detail Report "Animal Biotechnology Market Share, Size, Trends, Industry Analysis Report, By Animal Type (Companion and Livestock); By Product Type; By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/animal-biotechnology-market

For Additional Information OR Media Enquiry, Please Mail At: [email protected]

Recent Developments

• In December 2021, Indian Immunologicals Ltd (IIL) introduced the Goat Pox Vaccine which helps to control Goat Pox Disease. Such launches enhance the adaptation of vaccines and drive the growth of the market.
• In March 2022, Hester Bio, a producer of poultry vaccines, entered the pet care industry. The business is currently trying to expand its pet care products to include dermatology, nutrition, grooming, anti-infective, and specialty items.

Key Questions Answered in The Report

• Who are the key players in this market?
• What's their company profile, product information, and contact information?
• What was the market status?
• What will be market share, supply, and consumption?
• What is market chain analysis by upstream raw materials and downstream industry?
• What are the market dynamics of the market?
• What are the challenges and opportunities?
• What are some of the other regions that are rising at promising CAGR?

Polaris Market Research has segmented the Animal Biotechnology market report based on animal type, product type, application, end-use, and region:

By Animal Type Outlook

• Companion
• Dogs
• Horses
• Cats
• Others
• Livestock
• Poultry
• Swine
• Cattle
• Fish
• Sheep/Goats
• Others

By Product Type Outlook

• Drugs
• Diagnostic Test
• Vaccinations
• Feed Additives
• Reproductive and Genetic

By Application Outlook

• Food safety & Drug Development
• Preventive care of Animals
• Treatment of Animal Diseases
• Diagnosis of Animal Diseases
• Others

By End-Use Outlook

• Veterinary Hospitals and clinics
• Point of care testing or In– House Testing
• Laboratories
• Others

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research