by The global animal biotechnology market is focused on the development of genetically modified animal products and animal-derived pharmaceutical products. Animal biotechnology provides beneficial drugs to humans via transgenic animal production, or xenotransplantation. It involvesthe application of recombinant DNA technology and genetic engineering techniques for the mass production of useful biomolecules and the advancement of metabolic engineering. The growing demand for animal-derived pharmaceutical products such as insulin, blood clotting factors, monoclonal antibodies, and vaccines is driving the growth of the animal biotechnology market.
The global animal biotechnology market is estimated to be valued at US$45.70 billion in 2024 and is expected to exhibit a CAGR of 8.9% over the forecast period of 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.
Globally, North America dominates the Global Animal Biotechnology Market Growth due to high R&D investments and technological advancements. However, Asia Pacific is expected to showcase high growth owing to rising meat consumption and increasing government support for animal biotechnology research in countries such as India and China.
The key opportunities in the animal biotechnology market include the growing demand for transgenic animal breeding and transgenic animal vaccines and therapeutics. Rising investments by market players in transgenic animal research and the development of novel animal models for human disease studies and drug testing also present opportunities for market growth.
Market Drivers
One of the key drivers for the growth of the Global Animal Biotechnology Market is the growing demand for animal-derived pharmaceutical products. Animal biotechnology facilitates the mass production of pharmaceuticals such as insulin, blood clotting factors, monoclonal antibodies, and vaccines, which are in high demand worldwide. Growing research activities in transgenic animal models and genetic engineering technologies are further contributing to market growth.
PEST Analysis
Political: Regulations around animal testing and biotechnology are becoming more stringent to ensure humane treatment of animals. However, some governments are also promoting these industries to boost agricultural output.
Economic: The rising costs of livestock healthcare is driving demand for cost-effective biotechnology solutions in animal farming. Growth in the animal farming industry also supports growth of this technology sector.
Social: As awareness increases around humane treatment of animals, social acceptance of certain technologies depends on demonstrating no harm to animals. At the same time, demand is growing for better meat quality and yield through biotech techniques.
Technological: Genome sequencing allows screening of animal genomes to select for desirable traits while eliminating those associated with diseases. Stem cell therapies and gene-editing also offer possibilities for treating genetic disorders in livestock. However, ensuring animal welfare during experimental stages remains important.
Geographical Concentration
In terms of value, the market for animal biotechnology is highly concentrated in North America and Western Europe. This is because these regions have extensive livestock industries and are also early adopters of advanced biotechnology solutions. Countries like the US, Canada, Germany, France, UK and others account for majority of global market revenue.
Fastest-Growing Region
However, the Asia-Pacific region is expected to witness the highest growth during the forecast period. This is attributed to rising meat consumption, growing dairy and poultry industries, and increasing government promotion of biotechnology in countries like China, India and South Korea. Initiatives to improve livestock quality and eliminate diseases endemic to the region are also driving heavy investments in animal biotech research and application.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
