The Global Animal Biotechnology Market to showcase highest growth owing to rising Adoption of Advanced Animal Genetic Engineering Solutions

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The rising global demand for protein-rich animal feed alongside growing focus on food safety and security is propelling uptake of biotechnological solutions in animal husbandry globally.

The Global Animal Biotechnology Market to showcase highest growth owing to rising Adoption of Advanced Animal Genetic Engineering Solutions

The global animal biotechnology market encompasses veterinary medicines, genetic engineering and reproductive technologies used for livestock animals. Advancements in animal genetic engineering solutions allow for improvements in animal growth rates, disease resistance and quality milk/meat production. Routine genetic testing of newborn livestock helps farmers select disease-resistant breeds for farming.

The Global Animal Biotechnology Market is estimated to be valued at US$ 45.70 Bn in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period 2024 To 2031.

Key Takeaways

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 investing in R&D to develop novel genetic engineering solutions, vaccines, growth promoters and reproductive technologies.

The rising Global Animal Biotechnology Market Demand for animal proteins along with growing focus on food safety is propelling uptake of animal biotechnology solutions. Biotechnological advancements allow for more efficient breeding programs, genetic testing, transgenic animal production and disease diagnosis & treatment. This is supporting increased livestock productivity.

Technological advancements like genome editing tools such as CRISPR are allowing for more precise genetic modifications in livestock. Animal stem cell research is also advancing scope for regenerative medicines and transgenic animal production. Emerging technologies like gene-drive aim to control wild animal populations sustainably.

Market Trends

Genome-wide association studies are gaining traction for mapping genes contributing to economically important livestock traits. This is helping breed superior quality disease resistant livestock. Producers are increasingly relying on advanced reproductive technologies for cloning elite genetically superior animals at commercial scales.

Growing acceptance of genetically engineered animals among consumers has encouraged investments in transgenic animal R&D for applications like protein biomaterials. Development of precision breeding tools like gene drive technologies can revolutionize disease control in livestock populations.

Market Opportunities

Rising global meat consumption accompanied with growing focus on sustainable and humane farming presents opportunities for animal biotech solutions. Advancements in animal bioprocessing and stem cell therapies hold promise for regenerative medicines and genetic disorder correction in animals. Development of recombinant protein drugs using transgenic animals and precision genetic tools present a lucrative avenue.

Impact of COVID-19 on Global Animal Biotechnology Market

The COVID-19 pandemic has significantly impacted the growth of the global animal biotechnology market. Several factors related to outbreak such as lockdowns, supply chain disruptions, trade barriers, and economic slowdown have affected the market in the short term. The restrictions on travel and transportation led to disruptions in supply of raw materials and finished products. Many research activities, production facilities, and veterinary services were temporarily halted during the peak of pandemic to curb the virus spread. This led to decline in production volumes and revenue for market players in 2020.

However, the demand for animal-derived pharmaceutical products, vaccines, diagnostics saw an uptick during the pandemic. Companies focused on accelerating development of anti-viral drugs, vaccines, and test kits for companion animals. The fear of virus transmission from animals also drove interest in developing innovative therapies. Some technologies witnessed increased investments such as transgenic animal biotechnology for producing human therapeutic proteins. The future growth outlook remains positive as companies increase R&D investments in disease control, food safety, environmental sustainability to cater to evolving needs during and post-pandemic. Advancements in gene editing, stem cell techniques, immunotherapies will expand market opportunities going forward.

Europe currently generates the highest value for the global animal biotechnology market due to presence of major industry players, growth of animal health expenditure, demand for high-quality meat and dairy. North America ranks second in terms of value contribution owing to strong focus on animal welfare, advanced biotech adoption in livestock production, companion animal care. However, Asia Pacific region is emerging as the fastest growing market for animal biotechnology globally. The increasing meat consumption, rising biologics output in countries like China and India, growing pet ownership are fueling high uptake of biotech solutions across the region. Governments are supporting research initiatives to improve agricultural outputs, ensure food security. The Middle East and Africa region also presents lucrative prospects for industry expansion in the forecast period.