New FMI Report Explores Impact of COVID-19 Outbreak on Veterinary Biologics Market
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.
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.
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.).
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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