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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