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Veterinary Biologics Market By Product (Vaccines, Diagnostic Kits, Nutritional and Hormonal Supplement, Allergenic Extract and Others), By Type (Production Animal and Companion Animal) - Growth, Future Prospects & Competitive Analysis, 2018 - 2026

The veterinary biologics market is expected to grow at a compound annual growth rate (CAGR) of 6.0% between 2018 and 2026, from US$ 17,704.7 million in 2017 to US$ 29,706.9 million by 2026. Veterinary biologics are medicinal products obtained from living organisms and biological processes. They are employed in veterinary health science to diagnose, prevent, and treat animal disease through immune modulation. According to the United States Department of Agriculture (USDA), over the span of 70 years, there has been significant growth in the veterinary biologics market, wherein today approximately 2000 licensed biological products are employed to treat 200 different types of disease in 35 animal species.

Market Synopsis

The vaccine market is growing due to the increasing prevalence of zoonotic diseases and technological advancements in vaccine production via recombinant DNA technology.

Vaccines are currently leading the product segment for the veterinary biologics market. The major factors contributing to its culminating growth are the rising prevalence of zoonotic disease and technological innovation in veterinary vaccine production employing recombinant DNA technology. Molecular diagnostic kits hold the second-largest market in the products segment on account of the increasing prevalence of contagious diseases in poultry, bovine, and porcine animal species. Nutritional and hormonal supplements will be the fastest-growing market on account of increasing demand in the dairy and meat industries and the growing importance of probiotics to improve the quality of animal feed products.

Proactive government policies focus on long-term sustainable development and improving livestock health to drive the production animal market's growth.

Currently, production animals reign in the animal type segment pertaining to the veterinary biologics market. Proactive government policies throughout the globe focus on long-term sustainable growth by ensuring total food security and improving livestock healthcare. According to the research findings of the Food and Agriculture Organization (FAO), animal-based food products account for one-third of human protein consumption. The dairy industry's explosive growth propels the animal production market even further. Companion animals will be the fastest-growing animal type segment in the near future due to significant growth in pet adoption and stringent government norms for mandatory vaccination of pet animals.

The existence of a highly developed agro-based industry and rampant growth in the animal husbandry department drive market growth in North America.

In the present scenario, North America accounts for 40% of the global market share in the veterinary biologics market. The key factors responsible for the dominance of North America are the presence of a highly developed agro-based industry and rapid growth in the animal husbandry department. Rising public animal health awareness and significant growth in pet adoption further fortify the veterinary biologics market's growth in North America. Europe represents 31% of the market and is the second largest regional segment for the veterinary biologics market.

Increasing growth in the dairy and meat industries and stringent regulatory norms imposed by healthcare agencies for the compulsory vaccination of animals propel the market's growth in the European region. Asia Pacific holds a 17% market share and will be the fastest-growing market during the forecast period from 2018 to 2026. Rising zoonotic disease prevalence and proactive government policies to financially support veterinary departments consolidate the Asia Pacific veterinary biologics market growth. Latin America, the Middle East, and Africa serve as potential markets for major players to promote business expansion and capture the untapped market in rural areas.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The market is segmented by product, type, and geography.

Biopharmaceutical companies actively participating in the veterinary biologics market are Boehringer Ingelheim Animal Health GmbH, Ceva Sante Animale, Evonik Industries AG, Heska Corporation, Intervet, Inc., INDICAL Bioscience, IDEXX Laboratories, Inc., Virbac, Inc., VCA, Inc., and Zoetis.

Key questions are answered in this report.

  • Who are the major biopharmaceutical companies actively participating in the veterinary biologics market?
  • How is the market assessment performed, and what are the latest market trends prevalent in the veterinary biologics market?
  • What are veterinary biologics, and how do they impact animal health?
  • What will be the market size and CAGR for the veterinary vaccines market during the forecast period of 2018 to 2026?
  • What factors are responsible for the dominance of companion animal market growth?
  • What will be the performance of the Asia-Pacific region in the near future?

Frequently Asked Questions:

The market for Veterinary Biologics Market is expected to reach US$ 29,706.9 Mn by 2026.

The Veterinary Biologics Market is expected to see significant CAGR growth over the coming years, at 6.0%.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Boehringer Ingelheim Animal Health GmbH, Ceva Sante Animale, Evonik Industries AG, Heska Corporation, Intervet, Inc., INDICAL Bioscience, IDEXX Laboratories, Inc., Virbac, Inc., VCA, Inc are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Jan 2019
Category:  Pharmaceuticals
Report ID:   59540
Report Format:   PDF
Pages:   120
Rating:    4.2 (56)
Delivery Time: 24 Hours to 48 Hours   
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