The global veterinary biologics market is on a robust growth trajectory, with its valuation expected to reach USD 13,140.6 million by the end of 2024 and projected to soar to USD 24,224.3 million by 2034. This substantial growth is driven by a promising compound annual growth rate (CAGR) of 6.3% over the forecast period, 2024 to 2034.

Rising awareness of animal welfare and health has significantly fueled the demand for advanced veterinary biologics, such as vaccines, therapeutics, and diagnostics. These biologics play a vital role in preventing and managing animal diseases, ensuring both the well-being of pets and the productivity of livestock.

Key Drivers of Market Growth:

1.     Stricter Animal Welfare Regulations: Governments and regulatory bodies across the globe are increasingly enforcing stringent animal welfare laws. These regulations are encouraging greater adoption of veterinary biologics to meet new standards and ensure better care for animals.

2.     Growing Awareness of Animal Health: Pet owners, livestock farmers, and veterinarians are becoming more aware of preventive healthcare measures and the benefits of biologics in maintaining animal health. This heightened awareness is a key factor driving market expansion.

3.     Technological Advancements in Biotechnology: Continuous innovations in biotechnology have led to the development of novel veterinary biologics. These advancements offer more targeted and effective solutions for the prevention and treatment of animal diseases, further accelerating market growth.

As the veterinary biologics market enters an era of innovation and investment, stakeholders—from industry leaders to healthcare providers—are urged to stay informed on the latest technological developments and emerging trends. The growing demand for cutting-edge solutions in animal health management presents significant opportunities for those prepared to seize them.

Key Takeaways from the Market Study:

• From 2019 to 2023, the market demand expanded at a CAGR of 7.2%.
• The market in China is expected to expand at a CAGR of 8.1% through 2034.
• By animal, the livestock segment to account for a market share of 52.1% in 2024.
• From 2024 to 2034, veterinary biologics market is expected to flourish at a CAGR of 6.3%.
• By 2034, the market value of veterinary biologics is expected to reach USD 24,224.3 million.

“Changing climate patterns can influence the distribution of disease vectors and the prevalence of certain diseases. Veterinary biologics may play a crucial role in adapting to and mitigating the impact of climate change on animal health,” remarks an FMI analyst.

Get the Full Picture: Download the Complete Veterinary Biologics Market Report Here! https://www.globenewswire.com/en/news-release/2024/01/22/2813207/0/en/Global-Veterinary-Biologics-Market-to-advance-at-a-6-3-CAGR-through-2034-reaching-a-Value-of-US-24-224-3-Million-Future-Market-Insights-Inc.html

Competitive Landscape:

Prominent players in the veterinary biologics market are Top of Form Elanco Animal Health, Ceva, Phibro Animal Health Corporation, Boehringer Ingelheim, Zoetis Inc., Merck & Co., Inc., Virbac, Hester Biosciences Limited, Colorado Serum Company, Addison Biological Laboratory, Inc., American Animal Health, Inc., HIPRA, and Bimeda Inc. (Texas Vet Lab, Inc.), among others.

Company Portfolio:

• Boehringer Ingelheim is a key player with a strong focus on vaccines and biologics for various animal species. The emphasis of the company on disease prevention and control contributes to its competitiveness in the market.
• Elanco, known for its comprehensive animal health solutions, has a significant presence in the veterinary biologics market. The portfolio of the company includes vaccines and other biologic products for both companion animals and livestock.

Key Segments in the Veterinary Biologics Market Report:

Product:

• Vaccines
• Attenuated Live Vaccines
• Conjugate Vaccines
• Inactivated Vaccines
• Subunit Vaccines
• Toxoid Vaccines
• DNA Vaccines
• Recombinant Vaccines
• Bacterial Extracts
• Monoclonal Antibody
• Immunomodulatory
• Cytokines
• Others
• Allergenic Extracts

Animal:

• Companion Animals
• Canine
• Avian
• Feline
• Livestock
• Aquatic
• Bovine
• Porcine
• Ovine/Caprine
• Poultry
• Equine

Distribution Channel:

• Veterinary Clinics
• Veterinary Hospitals
• Veterinary Research Institutes
• Retail Pharmacies

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• South Asia and Pacific
• East Asia
• The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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