Animal biotechnology involves genetic engineering and gene manipulation techniques to develop livestock with desirable traits and produce specialized pharmaceutical or industrial products from animals. Biopharmaceuticals produced using animal biotechnology are effectively utilized for treating human diseases.
The global Animal Biotechnology Market is estimated to be valued at US$ 27.39 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Developing New Therapies
One of the key trends driving growth in the global animal biotechnology market size is increasing research into developing new cell and gene therapies. Numerous companies are conducting clinical trials aimed at developing genetically engineered animal organs and tissues for transplant into humans. Such therapies hold potential to address the shortage of organ donors. Additionally, animal biotechnology is being leveraged to develop new vaccines and therapies for various animal diseases. Advancements in cloning and genetic engineering techniques are increasing success rates of developing customized biologic products from transgenic livestock and producing monoclonal antibodies in the milk of transgenic animals.
Segment Analysis
The global animal biotechnology market is dominated by transgenic animal sub-segment. Transgenic animals accounted for more than 35% of the market share in 2024 owing to increasing use of transgenic technology for the development of genetically modified livestock and animals used in research. Transgenic animals are genetically engineered to include new genes which help researchers understand the function of genes as well as produce new genetically modified animal breeds in livestock with improved traits and pharmaceutical products in their milk.
Key Takeaways
The global animal biotechnology market is expected to witness high growth over the forecast period of 2024 to 2031 supported by increasing meat consumption worldwide.
Regional analysis: The North American region dominated the global animal biotechnology market in 2024 with more than 30% share owing to major biotech companies being based out of the US and growing adoption of biotech-based animal products in the region. Furthermore, rising agriculture and livestock sector, and increasing funding for biotechnology research and development by government organizations is also fueling the growth of the animal biotechnology market in North America.
Key players operating in the global animal biotechnology market are Heska Corporation, Indian Immunologicals Ltd., HESTER BIOSCIENCES LIMITED, Zoetis Inc., Boehringer Ingelheim International GmbH, Biogénesis Bagó, Merck & Co., Inc., Virbac, Elanco, Cadila Pharma, Thermo Fisher Scientific Inc., Idexx Laboratories, Randox Laboratories Ltd., Gold Standard Diagnostics., Bionote USA Inc., Meiji Holdings Co., Ltd., Kemin Industries, Inc., and Pfizer Inc. Major players are focusing on new product launches, acquisitions, and geographical expansion to increase their market share in the lucrative animal biotechnology market.
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Apr 02, 2019 (Heraldkeeper via COMTEX) -- Market Analysis:
With growing concern on Animal Nutrition, the feed yeast market is growing at an incremental pace of development on the global stage.
In addition to the increasing adoption of pet animals, growing awareness about the livestock health, rising concern on animal nutrition leading to growing demand for healthy meat and other livestock products and increasing compound feed consumption is expected to drive the feed yeast market.
Also, increased awareness of feed yeast due to regulations on antibiotic growth promoters, strong performance of livestock market along with low cost of feed yeast will result in surge in demand of feed yeast.
However, stringent regulatory framework for the livestock feed products, limited awareness and product availability in undeveloped regions, and environmental concern such as storage conditions will restrict the market growth.
The market players are responding to these new opportunities by expanding their service offerings/product lines, which has fueled up the share of feed yeast in the global market.
According to the new market research report “In Vivo Toxicology Market by Product (Instruments, Consumables (Animal models, Reagents & Kits)), Testing type (Chronic, Sub-chronic), Toxicity Endpoints (Immunotoxicity, Systemic, DART), Testing Facility (Outsourced, In-house) – Global Forecast” published by MarketsandMarkets™.How the Market Growth looks like and Industry Segmentation?The Global In Vivo Toxicology Market is expected to grow at a CAGR of 6.9% during the forecast period to reach to USD 6.14 Billion.Based on product, segmented into consumables and instruments.
The consumables segment is further divided into reagents & kits and animal models.
The consumables segment is expected to account for the largest share of the market owing to the increasing R funding for the development of new transgenic animal models, advancements in the development of genetically modified animals, increasing usage of reagents and kits for biological sample analysis.The in vivo toxicology market is segmented by testing type into chronic, sub-chronic, sub-acute, and acute toxicology testing.
The sub-acute toxicity testing segment is expected to register the highest CAGR of during the forecast period.
Growth in this market is attributed to the increasing focus on neurological and anti-viral drug research, which requires more than two weeks of toxicity studies.Browse 124 tables and 38 figures spread through 196 pages and in-depth TOC – Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=105308811Growth Boosting Factors:Increasing Pharmaceutical R ActivitiesMandatory Government Regulations for Animal TestingInnovations in Animal ModelsExclusive In Vivo Toxicology TestsIncreasing Research in Oncology and Personalized MedicineObjectives of the StudyTo define, describe, and forecast the global market by product, testing type, toxicity endpoint, testing facility, and regionTo provide detailed information regarding the major factors influencing the growth of the global market (drivers, restraints, opportunities, and challenges)To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall marketTo analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leadersDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=105308811Geographical Regions Mapped in Report:The US is estimated to account for the largest share of the in vivo toxicology market, followed by Germany and the UK.
However, China is expected to grow at the highest CAGR during the forecast period.
