Global Animal Biotechnology Market
Animal biotechnology is the application of biological and genetic sciences to animal production and welfare. It includes technologies that enhance animal productivity and health through techniques like artificial insemination, embryo transfer, genetic engineering and reproductive material biotechnologies, among others. Animal biotechnology involves the production of transgenic animals with enhanced genetic traits such as disease resistance, growth stimulation, lactation enhancement, fiber production and others that boost animal productivity. This results in improved quality and quantity of animal-derived foods, fibers and other products. Furthermore, animal biotechnology minimizes the environmental footprint of animal agriculture through increasing feed conversion efficiency and reducing methane emissions from ruminants. The rising global demand for high-quality animal proteins is anticipated to drive the growth of animal biotechnology.
The Global Animal Biotechnology Market is estimated to be valued at US$ 25.15 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Global Animal Biotechnology Market Share
includes 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. These players are focusing on new product launches, expansion of geographical presence and mergers and acquisitions to gain competitive edge in the market.
The opportunities in the global animal biotechnology market include growing demand for transgenic animal models for biomedical research, production of recombinant therapeutic proteins from transgenic animal milk and eggs, production of biofuels from animal fat, development of nanobiotechnology and stem cell therapies for treatment of damaged tissues and organs in animals.
The market is anticipated to witness high expansion rates in the Asia Pacific region owing to rising demand for animal-derived food products and increasing focus on animal welfare in countries like China, India and Japan. Rapid industrialization of animal agriculture in developing APAC economies is further propelling the regional market growth.
Market Drivers
One of the key drivers for the animal biotechnology market is the rising global demand for animal protein. The populations in developing countries are experiencing rapid urbanization and economic development leading to increasing demand for meat, milk and eggs. This is propelling the industrialization of animal agriculture which adopts genetically modified livestock and poultry for increased productivity.
Market Restraints
One of the key restraints for the animal biotechnology market is ethical concerns regarding genetic engineering of animals. Genetically modified animal research faces opposition from various advocacy groups due to perceived risks to animal welfare and the environment. Regulations around testing and commercialization of transgenic animals vary significantly across countries hindering market growth. The knowledge gaps in understanding the long-term impacts of genetic modifications on animal health also limit widespread adoption of biotechnologies.
Segment Analysis
The global animal biotechnology market is dominated by the genetic medicine segment, which accounts for over 35% of the total market share. Genetic medicine involves the use of biotechnology tools like gene cloning and editing to treat genetic diseases in animals. It is useful in correcting genetic mutations and preventing genetic diseases from being passed down generations. The growing concerns over genetically transmitted animal diseases and increasing ownership of companion animals is driving the demand for genetic medicine.
The global animal biotechnology market is also witnessing significant growth in the vaccine development segment. Vaccines help build immunity in animals against infectious diseases like rabies, hog cholera etc. Advancements in biotechnology have enabled the development of new vaccines that have higher efficacy and longer lasting immunity. Livestock vaccination is important for the large scale meat and dairy industries to prevent epidemics and ensure productivity. The growing meat consumption worldwide is accelerating the demand for vaccines developed through animal biotechnology.
Regional Analysis
North America dominates the global animal biotechnology market with over 40% share and is expected to maintain its leading position during the forecast period. This can be attributed to the high utilization and acceptance of animal biotechnology in the region. The US contributes significantly owing to the presence of major companies and rising expenditure in animal healthcare and research & development in biotechnology. Europe represents the second largest regional market supported by growing animal population and increasing importance of zoonotic diseases. The Asia Pacific region is emerging as a highly lucrative market for animal biotechnology driven by rising meat demand, increasing pet care expenditures, growing biotechnology capabilities and less stringent regulations in various countries compared to Western nations.
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