The global veterinary biologics market is projected to witness robust growth, reaching a valuation of USD 13,140.6 million in 2024 and soaring to an estimated USD 24,224.3 million by 2034. This growth is underpinned by a promising compound annual growth rate (CAGR) of 6.3% over the forecast period from 2024 to 2034.
The surge in market value is fueled by heightened awareness of animal welfare and health. As a result, demand for advanced veterinary biologics, including vaccines, therapeutics, and diagnostics, is on the rise. These biologics are crucial in preventing and managing animal diseases, ensuring both the well-being of pets and the productivity of livestock.
Key factors contributing to the market’s rapid growth include:
- Stricter Animal Welfare Regulations: Governments and regulatory bodies globally are enforcing more stringent animal welfare laws, pushing for greater adoption of effective veterinary biologics to meet these new standards.
- Growing Animal Health Awareness: Increasing awareness among pet owners, livestock farmers, and veterinarians regarding preventive healthcare and the benefits of biologics in maintaining animal health is a significant market driver.
- Technological Advancements: Continuous advancements in biotechnology have led to the development of novel biologics, offering more targeted and efficient solutions for animal disease prevention and treatment.
The global veterinary biologics market is witnessing an era of innovation and investment, driven by the demand for cutting-edge solutions in animal health management. Stakeholders, from industry leaders to healthcare providers, are encouraged to stay informed on the latest technological developments and emerging trends to seize opportunities in this rapidly growing sector.
Key Takeaways from the Market Study:
- From 2019 to 2023, the market demand expanded at a CAGR of 7.2%.
- The market in China is expected to expand at a CAGR of 8.1% through 2034.
- By animal, the livestock segment to account for a market share of 52.1% in 2024.
- From 2024 to 2034, veterinary biologics market is expected to flourish at a CAGR of 6.3%.
- By 2034, the market value of veterinary biologics is expected to reach USD 24,224.3 million.
“Changing climate patterns can influence the distribution of disease vectors and the prevalence of certain diseases. Veterinary biologics may play a crucial role in adapting to and mitigating the impact of climate change on animal health,” remarks an FMI analyst.
Get the Full Picture: Download the Complete Veterinary Biologics Market Report Here!
Competitive Landscape:
Prominent players in the veterinary biologics market are Top of Form Elanco Animal Health, Ceva, Phibro Animal Health Corporation, Boehringer Ingelheim, Zoetis Inc., Merck & Co., Inc., Virbac, Hester Biosciences Limited, Colorado Serum Company, Addison Biological Laboratory, Inc., American Animal Health, Inc., HIPRA, and Bimeda Inc. (Texas Vet Lab, Inc.), among others.
Company Portfolio:
- Boehringer Ingelheim is a key player with a strong focus on vaccines and biologics for various animal species. The emphasis of the company on disease prevention and control contributes to its competitiveness in the market.
- Elanco, known for its comprehensive animal health solutions, has a significant presence in the veterinary biologics market. The portfolio of the company includes vaccines and other biologic products for both companion animals and livestock.
Key Segments in the Veterinary Biologics Market Report:
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
Animal:
- Companion Animals
- Canine
- Avian
- Feline
- Livestock
- Aquatic
- Bovine
- Porcine
- Ovine/Caprine
- Poultry
- Equine
Distribution Channel:
- Veterinary Clinics
- Veterinary Hospitals
- Veterinary Research Institutes
- Retail Pharmacies
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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