A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global veterinary biologics market. Presenting exclusive insights into the market from 2019 to 2029, the report projects that the market will witness remarkable growth during the forecast. Veterinary biologics are products that are derived from living organisms and biological processes and are used to enhance immunity among animals. Veterinary biologics are used to prevent, diagnose, or treat animal diseases and function through an immunological process, thereby making them resistant to infections and diseases. The growth of the market is primarily driven by the increasing need for healthy livestock food, which is creating the need for veterinary biologics to maintain optimal health in animals. Furthermore, the technological advancements in molecular biology are also fuelling the growth of the veterinary biologics market.
Increasing Incidence of Veterinary Diseases Navigate Market on Profitable Path
The surging global population surges are asserting farmers to increase the quality and quantity of livestock. However, the rising prevalence of veterinary diseases, such as bird flu, swine flu, rabies, contagious bovine pleuropneumonia, etc. are propelling the demand for effective veterinary biologics. Veterinary biologics improve immunity and play a vital role in defending animals against diseases and infections. Leveraging the demand due to the high prevalence of animal diseases, major market players are focusing on research and development (R&D) activities to offer affordable and effective solutions. Subsequent investments by private organizations and government bodies, coupled with high demand for milk, meat, eggs, and fish are also complementing the swift growth of the market. Similarly, the advent of cutting-edge technologies in the molecular biology segment is propelling the sales of veterinary diagnostic kits, which aid in early disease diagnosis and treatment. Besides, nutritional and hormonal supplement products are expected to find notable adoption owing to the high demand for animal-derived protein consumption and the flourishing animal husbandry sector across the globe.
Europe Maintains Hegemony Over Regional Landscape
Europe is expected to remain the leading regional market for veterinary biologics, holding the lion's share in the global market value. The region's dominance is primarily attributed to a high number of households with companion animals and the subsequent rise in demand for pet care and pet insurance. Furthermore, the improvement of animal health services is also complementing the healthy growth of the region. Similarly, the Asia Pacific region is poised for impressive growth, on the back of increasing the adoption of pets in emerging economies, such as India and China. Besides, a high incidence of foodborne and zoonotic diseases in livestock animals is also creating substantial growth opportunities for market payers in South Asia and East Asia.