- Antibody Products
Veterinary Biologics Market size was valued at USD 11.2 billion in 2021, growing at a CAGR of 7.1% during the forecast period 2022-28 . Global veterinary biologics market is primarily driven by increase in demand for food security around the world and initiatives by the various government and non-government organizations to vaccinate the animals. The veterinary biologics industry is currently highly concentrated, with prominent firms such as Zoetis, Boehringer Ingelheim, Ceva, Elanco Animal Health, and Merck Animal Health accounting for two-thirds of the revenue share. These companies are increasingly delegating their innovation to startups and other collaborators with superior genomics and biotech knowledge. Furthermore, increasing investments in veterinary science and multi-disciplinary vaccinology research are projected to propel the veterinary biologics market to new heights. In light of growing livestock production and booming pet product sales, a major transformation in the animal health business will further create a window of growth potential. The growing number of veterinary clinics in both developed and emerging countries, which account for 2/5 of total revenue, is driving demand for veterinary biologics. Market participants are directing their product sales through retail pharmacies in order to boost their profit margins and regional presence. Increased government emphasis on the unification of research in veterinary pharmaceuticals and human medicine can also be attributable to significant rise in veterinary biologics sales through these channels. However, a major gap in understanding the epidemiology pattern of animal diseases remains a potential hazard to market participants. As illnesses evolve, vaccination research and development has been ramped up to protect animals from new strains. Veterinary biologics, such as monoclonal antibodies and immunomodulators, will also see advancements.
Fastest Growing Market
Growing demand for meat and rise in trend towards adaptation of companion animals in developing countries projected to boost the market share. Moreover, increase in company investments to produce advanced and novel veterinary biologics coupled with growing animal health concerns expected to bolster the global veterinary biologics market. However, lack of knowledge in some of the virulent veterinary diseases and regulatory procedures are expected to impede the global market over the forecast period
2021 is the base year and 2028 is the forecast year.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.