Sales of Veterinary Biologics to Surpass US$ 10 Bn in 2021; Supportive Government Policies Crucial to Market Build-up, Says FMI
Exhibiting a healthy growth rate, the global veterinary biologics market will register revenues worth around US$ 10 Bn in 2021. The growth is majorly driven by increasing prevalence of preventative farm animal healthcare to ensure better pet health management, and reduce the risk of diseases including, rabies. Rise in pet ownership across the world are further reflecting growth avenues to market players.
“Given the swelling pressure to feed the ever-growing population sustainably, livestock yield, although flourishing, is confronting the hurdles of infectious and parasitic diseases. Advancements in biotechnology and further innovations are assuring better diagnostics and genomics to develop next-gen veterinary biologics to avoid livestock disorders,” underlines FMI report.
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Key Findings of FMI’s Report on Veterinary Biologics Market
- Vaccines continues to stay atop in the prophylactic treatment for better herd immunity.
- Monoclonal antibodies (mAb) would be highly preferred for dermal disease treatment in companion animals.
- Livestock is likely to be a key revenue generator in veterinary biologics market.
- Owing to direct customer contact for bulk orders, veterinary clinics would significantly contribute market value.
- Europe continues to offer most lucrative opportunities; East Asia expected to gather pace.
Veterinary Biologics Market – Key Driving Factors
- Increasing pet ownership, globally, to boost revenue generation.
- Rising preference for prophylactic animal healthcare to offer conducive ground.
- Fast regulatory uptake regarding the usage of veterinary biologics.
Veterinary Biologics Market – Key Restraints
- Loopholes in epidemiological knowledge are an existing challenge for market players.
- Regional disparities in disease patterns to hinder veterinary biologics production.
- Inaccuracies in analyzing antigen/immunogenic structures to hamper market progress.
- Commodity-cycle-based characteristic of veterinary biologics to deter margin growth.
Explore the complete veterinary biologics report with detailed market segmentation, 130 illustrative figures, and 43 data tables spread across 232 pages on https://www.futuremarketinsights.com/askus/rep-gb-2288
Competition Landscape of Veterinary Biologics Market
Players in the veterinary biologics market are entering into mergers & acquisitions with small- and medium-scale enterprises (SME) in a bid to optimize their offerings with diverse product portfolio. Key players in the veterinary biologics market include Zoetis Inc., Boehringer Ingelheim, Ceva, Elanco Animal Health, Merck Animal Health, Phibro Animal Health Corporation, Virbac, Hester Biosciences Limited, Colorado Serum Company, Addison Biological Laboratory Inc., American Animal Health Inc., HIPRA, and Bimeda Inc. (Texas Vet Lab Inc.).
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About the Report
This FMI report covers the ongoing industry trends and an extensive analysis on veterinary biologics market growth at global, regional, and country levels. The report offers compelling insights based on product (vaccines, bacterial extracts, monoclonal antibodies, immunomodulators, and allergenic extracts), animal type (companion animals, canine, avian, feline, livestock, and equine), distribution channel (veterinary clinics, veterinary hospitals, veterinary research institutes, and retail pharmacies), and across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East & Africa).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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Market Report: https://www.futuremarketinsights.com/reports/veterinary-biologics-market