Animal Biotechnology Market size to grow by USD 3.65 billion from 2023-2028, North America to account for 47% of market growth - Technavio

NEW YORK, Dec. 1, 2023 /PRNewswire/ -- The animal biotechnology market size is expected to grow by USD 3.65 billion from 2023 to 2028. In addition, the momentum of the market will progress at a CAGR of 3.01% during the forecast period, according to Technavio Research. The market is segmented by Product (Drugs, Vaccines, Diagnostic tests, and Others), Animal Type (Livestock/production and Companion), and Geography (North America, Europe, Asia, and Rest of World (ROW)). North America will contribute 47% to the growth of the global market during the forecast period. The growth of the region can be attributed to the significant rise in pet adoption, increase in awareness regarding animal healthcare, advanced veterinary healthcare infrastructure, increasing demand for animal-based products, and the presence of prominent vendors in the region. The demand for drugs and vaccines for animals is likely to increase in the country during the forecast period due to the increasing expenditure on animal healthcare. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read a FREE PDF Sample Report

Company Profile:

Anicell BioTech, Bayer AG, Biogenesis Bago SA, Boehringer Ingelheim International GmbH, Elanco Animal Health Inc., EW Group GmBH, Genus Plc, Heska Corp., Hester Biosciences Ltd., IDEXX Laboratories Inc., Ivaoes LLC, Merck and Co. Inc., Neogen Corp., Pfizer Inc., Randox Laboratories Ltd., Santa Cruz Biotechnology Inc., Vimian Group AB, Virbac Group, Z Link Biotech Co. Ltd., Zeus Biotech Pvt. Ltd.

Bayer AG - The company offers animal biotechnology such as animal disease treatment through Bayer Animal Pharmaceuticals.

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Animal Biotechnology Market: Segmentation Analysis

The drugs segment will be significant during the forecast period. Foot and mouth disease (FMD), salmonella, swine fever, avian influenza, and bovine respiratory disease (BRD) are some of the major diseases in animals cured using drugs. Furthermore, antiparasitic drugs can be used to treat commonly occurring bacterial diseases in animals raised on farms. The diseases include respiratory and gastrointestinal infections. Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a PDF Sample Report

"Besides analyzing the current market scenario, our report examines historic data from 2017 to 2021"- Technavio

Animal Biotechnology Market: Driver & Trend:

Driver

• Increasing growth strategies of market players
• Growing focus on animal cloning
• Use of transgenic animals to produce recombinant proteins

Animals whose genome has changed to carry genes from another species are called transgenic animals and transgenesis is a process or technique that involves the introduction of foreign DNA sequences into the genome of transfected cells. This process is carried out to achieve a higher growth rate, improvement in feed utilization, and increased resistance to disease, among many others.

Advancements in R&D for animal biotechnology are an emerging market trend during the forecast period. Identify key trends, drivers, and challenges in the market. Download a sample report to gain access to this information.

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What are the key data covered in this animal biotechnology market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the animal biotechnology market between 2023 and 2028.
• Precise estimation of the animal biotechnology market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the animal biotechnology market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of animal biotechnology market vendors.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Animal Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio