Animal biotechnology involves the use of biological processes and organisms to develop or modify animal products, increase production efficiency, and improve nutrition. Key applications of animal biotechnology include transgenic animal production, cloning, DNA sexing, animal genetic engineering, and reproductive technologies. Transgenic animals are produced by inserting recombinant DNA into the genome of animals to express desirable traits. This technology is being utilized in livestock production to develop cattle, poultry, and pigs that are resistant to diseases and grow more efficiently. Cloning involves the production of genetically identical individuals. DNA sexing is a molecular technique used to determine the sex of mammalian embryos and fetuses before implantation or birth. Animal genetic engineering alters the genetic makeup of animals by adding or deleting traits. Reproductive technologies involve artificial insemination, embryo transfer, and in vitro fertilization to improve breeding programs.
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 2024 To 2031.
Key Takeaways
Key players operating in the Global Animal Biotechnology Market Growth are 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. The key opportunities in the market include growing demand for meat and dairy products, emerging economies providing potential for market expansion, and significant funding for animal biotechnology research and development. Technological advancements such as gene editing with CRISPR, stem cell technologies, establishment of transgenic animal facilities, and development of diagnostic tools are fueling market growth.
Market Drivers
One of the key drivers for the animal biotechnology market is the growing global population which is increasing the demand for animal proteins such as meat and dairy. Protein deficiency is a major issue for developing nations. Animal biotechnology helps overcome this through transgenic animal production which enables increasing livestock yields. Other factors propelling the market growth are rising awareness about zoonotic diseases and initiatives from governments and international organizations to curb their spread through innovations in diagnostics, vaccines, and biosecurity solutions. Researchers are also focusing on developing animal models that can aid in disease research and clinical testing of new drugs, thus driving market expansion.
Current Challenges in Global Animal Biotechnology Market
The global animal biotechnology market is currently facing various challenges like maintaining ethical standards in animal testing, lack of awareness regarding animal biotechnology products, high costs associated with R&D and clinical trials. In addition, stringent regulations around biotechnology research and animal welfare are also hampering the growth of this industry. However, continuous technological advancements and increasing applications of animal biotechnology in precision breeding, transgenic techniques, reproductive cloning and stem cells are expected to drive growth in the coming years.
SWOT Analysis
Strength: Growing applications of animal biotechnology in areas like vaccine development, genetic engineering and drug discovery.
Weakness: High costs associated with R&D and clinical trials. Ethical concerns related to animal testing and genetic engineering of animals.
Opportunity: Untapped markets in developing regions offer huge growth potential. Emerging areas like tissue engineering and gene therapy could open new opportunities.
Threats: Stringent regulations around biotechnology research and animal welfare increase compliance burden. Patent cliffs of major drugs pose threat to revenue streams of players.
In terms of value, North America accounts for the largest share of the global animal biotechnology market currently. This is attributed to factors like high healthcare expenditure, well-developed biotechnology industry and presence of major players in the region. Asia Pacific is expected to be the fastest growing regional market in the coming years owing to growing meat demand, increasing research funding and rising disposable incomes in developing countries like China and India.
Currently, the United States accounts for the highest market share in the global animal biotechnology market. However, China is anticipated to overtake other countries and emerge as the largest as well as the fastest growing regional market. Factors such as rising meat consumption due to fast economic development, growing awareness about animal healthcare, increasing investments in R&D and expanding biologics manufacturing base are fueling the animal biotechnology market growth in China.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.
