According to this study, the global Animal Biotechnology market size will reach US$ million by 2031.

Animal biotechnology refers to the branch of biotechnology, which deals with the molecular biology techniques for producing genetically engineered animals (whose genome are modified), in order to make them suitable for pharmaceutical, industrial or agricultural applications. The genetically modified animals have improved growth rates, synthesized therapeutic proteins, and are resistant to various diseases. Increasing R&D by the major market players, rising regulatory approvals, and the rising focus toward cloning and transgenic animals are contributing to the market growth. However, high cost of research and development, and the ethical issues associated with animal biotechnology products may adversely affect the market growth.

Pet medical care is the second largest segment in pet industry. In the UK, annual spending on veterinary and other pet services has risen from 2.6bn in 2015 to 4bn in 2021, a 54% increase in just six years. According to Vetnosis, the value of the global animal health industry will increase by 12% to $38.3 billion in 2021. White Paper on Chinas Pet Healthy Consumption of JD shows that in 2023, there are 13.09 million pets entering middle age and old age. And pet aging is expected to be seen in the next few years. Changes in the age structure of pets will further bring about the development of the pet medical industry. According to the data of the 2022 China Pet Medical Industry White Paper, from the perspective of market size, the scale of Chinas pet medical market is about 67.5 billion, accounting for about 22.5% of the entire pet industry. From the perspective of hospital operation time, pet hospitals within 5 years accounted for about 73%. About 11% of the pet hospitals have been in operation for more than 10 years. From the perspective of hospital turnover, nearly 40% of the hospitals have increased their annual turnover year-on-year, and the growth rate is mainly within 184%.

LPI (LP Information) newest research report, the Animal Biotechnology Industry Forecast looks at past sales and reviews total world Animal Biotechnology sales in 2024, providing a comprehensive analysis by region and market sector of projected Animal Biotechnology sales for 2025 through 2031. With Animal Biotechnology sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Animal Biotechnology industry.

This Insight Report provides a comprehensive analysis of the global Animal Biotechnology landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyses the strategies of leading global companies with a focus on Animal Biotechnology portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms unique position in an accelerating global Animal Biotechnology market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Animal Biotechnology and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Animal Biotechnology.

This report presents a comprehensive overview, market shares, and growth opportunities of Animal Biotechnology market by product type, application, key players and key regions and countries.

Segmentation by Type:

    Diagnostic Tests
    Drugs
    Reporductive & Genetic Produtcs
    Vaccines

Segmentation by Application:

    Preventive Care for Animals
    Development of Animal Pharmaceuticals
    Food Safety and Drug Development
    Others

This report also splits the market by region:

    Americas
        United States
        Canada
        Mexico
        Brazil
    APAC
        China
        Japan
        Korea
        Southeast Asia
        India
        Australia
    Europe
        Germany
        France
        UK
        Italy
        Russia
    Middle East & Africa
        Egypt
        South Africa
        Israel
        Turkey
        GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the companys coverage, product portfolio, its market penetration.

    Bayer AG
    Merck &, Inc.
    Pfizer, Inc.
    Sanofi
    Biogenesis Bago
    Santa Cruz Biotechnology, Inc.
    Boehringer Inghlem
    Virbac Inc.
    Zoetis