Excessive Demand Expected for Diagnostic Kits in Veterinary Biologics Market during Forecast Period
Veterinary biologics are products derived from living organisms and biological processes. These veterinary biologics are used for prevention, diagnosis or treatment of animal diseases including domestic livestock, poultry, pets, wildlife, and fish and function through an immunological process. Veterinary biologics are basically animal health products such as vaccines (bacterins and antisera), diagnostic kits, antibody products, and in vitro diagnostic test kits. Also to ensure that the veterinary biologics are effective, pure, safe and potent. Veterinary vaccines plays an important role in veterinary biologics market by supporting animal health and public health, decreasing animal suffering, by growing efficient production of food animals, by decreasing need for antibiotics which are used for treating companion animals. For instance, rabies vaccines used for treating domestic animals and wildlife has effectively reduced human rabies in developed countries. Above mentioned factors are expected to drive the veterinary biologics market over the forecast period. Moreover, companies are into a co-marketing tie-up with the pharmaceutical companies to increase its geographical footprint globally which is expected to drive the global veterinary biologics market over the forecast period.
Veterinary biologics Market: Drivers and Restraints
The demand for veterinary biologics market is fueled by rising needs for primary and secondary food items from livestock animals helps in creating sustainable demand for livestock vaccines which is thereby expected to drive the demand for veterinary biologics over the forecast period. In addition the increasing demand for food security across the globe coupled with rising impact of host-pathogen interactions and limited vaccine stockpile across major nations is expected to witness robust market growth during the forecast period. According to the Food and Agricultural Organization (FAO) of the United Nations, the expected increase in food product is around 70% during the period 2007 and 2050 so as to serve the global population. In 2014, the global population accounted for 7.3 Bn and is expected to reach 9.1 Bn in 2050 at a yearly average rate of 3%. Also the consumption of meat and associated products is estimated to increase from 218 Mn tonnes in 1997–1999 to 376 Mn tonnes by 2030. These factors are expected to drive growth of the global veterinary biologics market over the forecast period. Moreover government initiatives for animal vaccination programs to manage the disease transfer from animals to humans is expected to create demand for veterinary biologics. However, lack of knowledge of certain virulent veterinary diseases is expected to hamper discovery and production limit for vaccine to prevent spread of the disease which will thereby impede revenue growth of the veterinary market over the forecast period.
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Veterinary biologics Market: Segmentation
The global veterinary biologics market, is segmented on the basis of product type, by species, by disease type, end user and region.
Segmentation by Product Type
- Antibody Products
- Diagnostic Kits
- Vaccine Type
- Live Vaccine
- Killed Vaccine
- Desiccated Vaccine
- Polyvalent Vaccine
- Combination Product
- Mixed Bacterin
- Autogenous Vaccine
Segmentation by Species
Segmentation by Disease Type
- Aujeszky’s disease
- Bovine tuberculosis
- Bovine viral diarrhea
- Foot and Mouth Disease
- Clostridial disease
- Liver fluke
- Others (Salmonella, Newcastle disease, Classical swine fever)
Segmentation by End Users
- Veterinary Hospitals
- Veterinary Clinics
- Veterinary Research Institutes
- Retail Pharmacies and Others
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