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Animal Biotechnology Market by Animal (Livestock, Companion), by Type of Product (Drugs, Vaccinations, Diagnostic Tests, Genetic & Reproductive Products, Others), by Application (Diagnosis of Animal Diseases, Treatment of Animal Diseases, Preventive Care of Animals, Development of Animal Pharmaceuticals), by North America (United States, Canada, Mexico, Rest of North America), by Middle East & Africa (UAE, South Africa, Saudi Arabia, Rest of MEA), by Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), by Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), by South America (Brazil, Argentina, Rest of South America) Forecast 2024-2032
The Animal Biotechnology Market size was valued at USD 24.6 billion in 2023 and is projected to reach USD 68.2 billion by 2032, exhibiting a CAGR of 8.9 % during the forecast period. Animal biotechnology refers to the technological application that involves the use of animals mainly at the molecular and cellular level with the aim of accentuating certain desired characteristics or establishing an innovative use. It includes general concepts like Genetic engineering, Cloning, and Transgenics. Some are Gene editing to make crops disease-resistant, Selective breeding to improve specific traits, and Cloning as a form of multiplying endangered animal species. Some of the benefits include a precise method, time optimization, and the ability to solve problems that affect agriculture, health, and or the environment. Some uses range from producing drugs in animals to developing disease-resistant cattle for food production, using transgenic animals as models in medical studies, and protecting endangered species through embryo cloning and other artificial insemination.
Animal:
Type of Product:
Application:
The animal biotechnology market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America holds the largest market share, followed by Europe and Asia-Pacific. The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
The pricing of animal biotechnology products varies depending on the type of product, the target animal, and the region. The cost of animal biotechnology products can be high, which can limit their accessibility in developing countries.
The import and export of animal biotechnology products is a significant factor in the global market. The United States is a major exporter of animal biotechnology products, while countries like China and India are major importers.
The market can be segmented based on animal type, product type, application, and region. The segmentation analysis helps in understanding the market dynamics and identifying potential growth opportunities.
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 8.9% from 2018-2032 |
Segmentation |
|
Aspects | Details |
---|---|
Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 8.9% from 2018-2032 |
Segmentation |
|
Note* : In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
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