Global Animal Biotechnology Market size was valued at USD 28.9 Billion in 2023 and is expected to reach USD 68.2 Billion by 2032, at a CAGR of 8.5% during the forecast period 2023 – 2032.
Animal Biotechnology Market: Overview
Animal biotechnology is the use of biotechnological techniques to enhance the fitness, production, and biological characteristics of animals. It comprises a wide range of methodologies and technologies aimed at understanding, altering, and using animal biological functions for a variety of objectives.
These goals include improving animal breeding and genetics, increasing animal well-being and nutrition, discovering novel veterinary medications and even manufacturing useful biomaterials from animal cells.
Rising demands on sophisticated genetic techniques to improve livestock production, such as selective breeding, gene editing, and cloning, are driven by the need to fulfill rising global food demand sustainably.
Furthermore, currently exists an increase in research and development activities aimed at biopharmaceuticals originating from animals, such as antibodies and vaccines, to treat a variety of human ailments. In addition, growing awareness of animal welfare and ethical concerns is motivating the development of alternative protein sources, such as cultured meat and plant-based alternatives, which encourages innovation in cellular agriculture.
Finally, advances in precision livestock farming technology, such as sensors, IoT, and data analytics, are transforming animal health monitoring, management, and productivity optimization. These patterns represent the changing landscape of animal biotechnology, with important consequences for food security, human health, and environmental sustainability.
By product, the diagnostics tests segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Recent diagnostics developments in the animal biotechnology industry involve the utilization of point-of-care testing, greater use of molecular methods such as PCR, and the development of multiplex assays for quick and accurate disease diagnosis.
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By application, the preventive care of animals segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Customized medicine, enhanced diagnostics, immunization breakthroughs, genetic selection, and digital health technologies for proactively tracking and oversight of animal health are among the animal-related biotechnology market’s preventive care trends.
By end user, the veterinary hospitals and clinics segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Veterinary hospitals and clinics in the animal biotechnology sector are increasingly using gene editing methods, improved diagnostics, tailored treatment, and telehealth for remote counselling and monitoring.
In North America, advancements in the animal biotechnology industry comprise an increasing emphasis on gene editing techniques such as CRISPR, increased use of precision breeding technologies, and rising demand for biopharmaceuticals derived from genetically altered animals.
Biogénesis Bagó, a biotechnology firm specializing in the discovery, manufacture, and marketing of animal welfare solutions, has acquired Spanish biotech HIPRA’s hormone product line. Biogénesis Bagó to expand its portfolio with complementary products, enter 30 new countries, reinforce its foothold in the Middle East, North Africa, and Latin America, and launch business operations in Europe.
CMI has comprehensively analyzed the Global Animal Biotechnology market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict the in-depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global Animal Biotechnology industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the Animal Biotechnology Market:
- Zoetis Inc.
- Merck Animal Health
- Bayer Animal Health
- Boehringer Ingelheim Animal Health
- Elanco Animal Health
- Thermo Fisher Scientific Inc.
- Genus plc
- Intrexon Corporation
- Trans Ova Genetics
- Envigo
- Viagen Pets
- Genus ABS
- Hendrix Genetics
- Inguran LLC
- Avantea
- Transgenic Inc.
- Semex
- Transposagen Biopharmaceuticals
- Clonea Pty Ltd.
- BGI Group
- Others
Table of Contents: https://www.custommarketinsights.com/report/animal-biotechnology-market/#table-of-contents
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