According to a recent market analysis conducted by Future Market Insights (FMI), the worldwide Veterinary Biologics market size is anticipated to be worth US$ 11.4 billion in 2022 and US$ 18.2 billion by 2029.
The growing trend of pet ownership around the world has raised worries about pet health, leading in increased demand for Veterinary Biologics. According to the American Pet Products Association (APPA), over 67% of US households own a pet, a 56% increase since 1988. Vaccines and other preventive Veterinary Biologics are the most commonly utilised prophylactic medicine. The increased use of prophylactic Veterinary Biologics is primarily due to increased awareness about better pet health management and the risk of infections such as rabies. The World Health Organisation (WHO) recently recommended using Veterinary Biologics like as monoclonal antibodies instead of blood-derived rabies immunoglobulin. Increased R&D spending has come from such endorsements and the pursuit of more safe and effective Veterinary Biologics.
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Key Takeaways of Veterinary Biologics Market Study
- The segment is likely to be a substantial revenue generator due to the rapid usage of vaccinations as a preventive treatment for improved herd immunity.
- The growing use of monoclonal antibodies for the treatment of dermatological disorders in companion animals is expected to add to the segment’s dominance throughout the forecast period.
- The increasing occurrence of infectious illnesses in livestock has increased demand for Veterinary Biologics. During the projected period, livestock is expected to be a substantial revenue-generating segment by animal type.
- In terms of income, the Veterinary Biologics industry is dominated by veterinary clinics, owing to direct client interaction for large orders.
- Europe is anticipated to be the most lucrative region in terms of revenue, due to growing adoption of animals for commercial use. East Asia is expected to witness notable growth during the forecast period.
Mergers & Acquisitions Key Strategy of Veterinary Biologic Manufacturers
Manufacturers such as Boehringer Ingelheim International GmbH, Zoetis Inc., etc., are engaging in mergers & acquisitions with small and medium regional players in the Veterinary Biologics market in order to streamline their product offerings in respective regions with diverse product portfolios.
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More Valuable Insights on Veterinary Biologics Market
Future Market Insights brings a comprehensive research report on forecast revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each segment from 2014 to 2029. The global Veterinary Biologics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the Veterinary Biologics market on the basis of product type (vaccines, monoclonal antibodies, bacterial extracts, immunomodulators, and allergenic extracts), animal type (companion animals, livestock, and equine), and distribution channel (veterinary clinics, veterinary hospitals, veterinary research institutes, and retail pharmacies), across seven major regions.
Veterinary Biologics Market By Category
By Product
- Vaccines
- Attenuated Live Vaccines
- Conjugate Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Toxoid Vaccines
- DNA Vaccines
- Recombinant Vaccines
- Bacterial Extracts
- Monoclonal Antibody
- Immunomodulatory
- Cytokines
- Others
- Allergenic Extracts
By Animal
- Companion Animals
- Canine
- Avian
- Feline
- Livestock
- Aquatic
- Bovine
- Porcine
- Ovine/Caprine
- Poultry
- Equine
By Distribution Channel
- Veterinary Clinics
- Veterinary Hospitals
- Veterinary Research Institutes
- Retail Pharmacies
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By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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