Global Veterinary Biologics Market: Overview
Immunity is a biological defense
mechanism to avoid infection or disease. When the autoimmune system
fails, biologic drugs play a vital role in defending against diseases or
infections by boosting the immune system. Veterinary biologics are
products derived from living organisms and biological processes. These
are used to prevent, diagnose, or treat animal diseases and function
through an immunological process.
Rise in prevalence of animal diseases,
increase in disposable income, focus of major players in the research
and development of new vet biologic products to combat new animal
diseases are projected to drive demand for veterinary biologics
products. Moreover, increase in investments by government bodies and
rise in demand for milk, meat, eggs, and fish are the other factors
anticipated to propel the global veterinary biologics market during the
forecast period.
The global veterinary biologics market
can be segmented based on product, disease type, animal type,
distribution channel, and region. In terms of product, the global market
can be classified into vaccines, diagnostic kits, immunomodulators,
antiserums & antibodies, and others. The vaccines segment can be
categorized into inactivated vaccines, conjugate vaccines, live
attenuated, and toxoid vaccines. The vaccines segment is projected to
account for significant share of the market in the near future. This is
because of technological advances in vaccine development, continuous
development of drug resistance by pathogens, and emergence of new
diseases. Moreover, veterinary vaccine development generally has less
stringent regulatory and preclinical trial requirements. Therefore, new
players have the opportunity to enter the market through new product
development. Based on animal type, the global veterinary biologics
market can be bifurcated into livestock animals and companion animals.
Usage of veterinary biologics is higher in livestock animals. Hence, the
livestock animals segment is anticipated to dominate the market.
Livestock animals are more prone to new diseases. Hence, proper
vaccination is required. In terms of disease type, the market can be
divided into bluetongue, foot & mouth disease, brucellosis &
tuberculosis, and others. Based on distribution channel, the global
veterinary biologics market can be classified into veterinary hospitals,
veterinary clinics, and others. The veterinary hospitals segment
dominated the market in 2017 due to favorable government support and
availability of all types of vet treatment.
In terms of region, the global veterinary
biologics market can be segmented into North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa. North America
dominated the global market in 2017. The region is projected to account
for significant share of the global veterinary biologics market during
the forecast period, owing to increase in concerns about pet health and
high cost of products. Favorable government support for the development
of new biologic drugs is anticipated to drive the market in Europe. In
December 2015, the Biotechnology and Biological Sciences Research
Council (BBSRC) funded GBP 5.7 Mn for the development of poultry
vaccines to the London School of Hygiene and Tropical Medicine. A rising
trend of zoonotics, mandatory government requirement for immunization
of animals, and trend of keeping companion animals are the major factors
that drive the veterinary biologics market in Asia Pacific.
Global Veterinary Biologics Market: Competitive Landscape
Major players operating in the global
veterinary biologics market include Zoetis, Inc., Merck Animal Health,
Boehringer Ingelheim GmbH, Bayer AG, Eli Lilly & Company, Abaxis,
OMEGA, and Hebei Veyong Animal Pharmaceutical Co., Ltd.
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