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| 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
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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