According to FutureWise analysis the market for animal biotechnology is expected to reach US$ 54.97 billion by 2031 at a CAGR of 9.40%.
Animal biotechnology is a part of biotechnology in which molecular biology approaches are used to genetically engineer animals for the purpose of improving their desirability for agricultural, industrial, or pharmaceutical applications. Animal biotechnology is used to produce genetically modified animals capable of synthesizing therapeutic proteins, exhibiting improved growth rates, and developing resistance to diseases. Animals have been used for years to produce medicines for human use. Animal-made pharmaceuticals transform genetically engineered animals into the factories to produce therapeutic proteins in the milk, eggs, and blood, which produce biopharmaceuticals. In addition, biotechnology has the potential to make human-compatible transplant organs, tissues, and cells, playing a vital role in advancing human healthcare.
Farmers have been improving livestock herds for decades through improved animal husbandry practices and modern technologies, such as artificial insemination, in vitro fertilization, embryo transfer, cloning, and genetic mapping. Through biotechnology, farmers can improve breeding, resulting in healthier herds. The animal health industry has also developed treatments that can prevent and treat disease. The advances in animal biotechnology have been greatly accelerated by advancements in sequencing animal genomes, studying gene expression, and profiling the metabolic processes of animal cells. One of the key breakthroughs has been the development of genome editing technologies such as Zinc Finger Nucleases, TALENS, and CRISPR-Cas systems. These cutting-edge tools have revolutionized the ability to introduce targeted genetic modifications in animals, improving health and well-being, enhanced agricultural production, and heightened resistance against diseases.
FutureWise Market Research has published a report that provides an insightful analysis animal biotechnology market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. According to the analysis conducted by FutureWise research analysts, animal biotechnology market is estimated to register a considerable growth rate over the forecast period. This report lists the market segments and potential prospects available across this industry, in addition providing crucial information on the total valuation currently held by the industry. Moreover, this report will assist key management individuals in an organisation to enhance their decisions pertaining to business expansion as well as strategic changes for increasing customer base.