Veterinary biologics are products derived from living organisms and biological processes. These veterinary biologics are used for prevention, diagnosis or treatment of animal diseases including domestic livestock, poultry, pets, wildlife, and fish and function through an immunological process. Veterinary biologics are basically animal health products such as vaccines (bacterins and antisera), diagnostic kits, antibody products, and in vitro diagnostic test kits. Also to ensure that the veterinary biologics are effective, pure, safe and potent. Veterinary vaccines plays an important role in veterinary biologics market by supporting animal health and public health, decreasing animal suffering, by growing efficient production of food animals, by decreasing need for antibiotics which are used for treating companion animals. For instance, rabies vaccines used for treating domestic animals and wildlife has effectively reduced human rabies in developed countries. Above mentioned factors are expected to drive the veterinary biologics market over the forecast period. Moreover, companies are into a co-marketing tie-up with the pharmaceutical companies to increase its geographical footprint globally which is expected to drive the global veterinary biologics market over the forecast period.
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Veterinary biologics Market: Drivers and Restraints
The demand for veterinary biologics market is fueled by rising needs for primary and secondary food items from livestock animals helps in creating sustainable demand for livestock vaccines which is thereby expected to drive the demand for veterinary biologics over the forecast period. In addition the increasing demand for food security across the globe coupled with rising impact of host-pathogen interactions and limited vaccine stockpile across major nations is expected to witness robust market growth during the forecast period. According to the Food and Agricultural Organization (FAO) of the United Nations, the expected increase in food product is around 70% during the period 2007 and 2050 so as to serve the global population. In 2014, the global population accounted for 7.3 Bn and is expected to reach 9.1 Bn in 2050 at a yearly average rate of 3%. Also the consumption of meat and associated products is estimated to increase from 218 Mn tonnes in 1997–1999 to 376 Mn tonnes by 2030. These factors are expected to drive growth of the global veterinary biologics market over the forecast period. Moreover government initiatives for animal vaccination programs to manage the disease transfer from animals to humans is expected to create demand for veterinary biologics. However, lack of knowledge of certain virulent veterinary diseases is expected to hamper discovery and production limit for vaccine to prevent spread of the disease which will thereby impede revenue growth of the veterinary market over the forecast period.
Veterinary biologics Market: Overview
The veterinary biologics market, is largely penetrated by some global players and is projected to witness robust CAGR over the forecast period owing to major players in the market are focusing on introducing effective vaccination for parasitic invasion which is a prevalence type of disease affecting livestock. Also companies are actively seeking supportive government regulations for development of effective veterinary vaccines is expected to create fierce competition over the forecast period in the veterinary market. Moreover, increasing prevalence of viral diseases in animals is expected to fuel demand for attenuated live vaccines as they are the first drug of choice in viral diseases and provide more competitive advantage over substitute’s products available in the market.
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Veterinary biologics Market: Regional Overview
Geographically, the global veterinary biologics market, is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, Middle East and Africa (MEA). North America dominates the global veterinary biologics market followed by Europe. North America and Western Europe regions are expected to witness robust growth due to increased adoption of veterinary biologics and dispersed livestock presence coupled with rapid demand for vaccines is expected to fuel the revenue growth in these regions. APEJ is expected to witness significant growth as compared to other regions and countries owing to increased disease awareness and focus on animal welfare are factors expected to fuel market growth in this region. Latin America and MEA regions are expected to witness sluggish growth due to lack of understanding on epidemiological disease patterns for livestock animals are expected to hamper proper vaccine distribution in these region. However, increasing foodborne and zoonotic diseases may boost the growth of veterinary biologics market in these regions during the forecast period.
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Veterinary biologics Market: Key Players
Some of the players operating in the market for veterinary biologics are Zoetis, Elanco, Merial, Merck & Co., Inc., Bayer Pharma AG, Boehringer Ingelheim GmbH, Ceva, Virbac and others. Above companies are actively entering into strategic agreements and collaborations with other players in the industry, universities and farming institutes to improve their product line and increase visibility owing to strategic product placement.
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