Veterinary Biologics Market Growth Opportunities & Threads Analysis
Immunity is a biological defense mechanism to avoid infection or disease. When the autoimmune system fails, biologic drugs play a vital role in defending agains
Veterinary Biologics Market: Introduction
• 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
• Veterinary biologics are animal health products such as antibody products, vaccines, and in vitro diagnostic test kits that are used for prevention, treatment, or diagnosis of infectious diseases in animals, including poultry, domestic livestock, wildlife, pets, and fish
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Key Drivers, Restrains, and Opportunities of Global Veterinary Biologics Market
• Rise in prevalence of animal diseases, increase in disposable income, and focus of major players on the research & development of new veterinary 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
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North America to Capture Major Share of Global Veterinary Biologics Market
• 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 expected 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.
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• Favorable government support for the development of new biologic drugs is likely to drive the market in Europe. In December 2015, the Biotechnology and Biological Sciences Research Council (BBSRC) funded GBP 5.7 Mn to the London School of Hygiene and Tropical Medicine for the development of poultry vaccines.
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• A rising trend of zoonotics, mandatory government requirement for immunization of animals, and trend of keeping companion animals are the major factors driving the veterinary biologics market in Asia Pacific
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