Monoclonal Antibodies In Veterinary Health Market Size, Share & Trends Analysis Report By Application (Dermatology, Pain, Others), By Animal Type (Dogs, Others), By End User (Veterinary Hospitals, Others), By Region, And Segment Forecasts, 2022 - 2030

Monoclonal Antibodies In Veterinary Health Market Growth & Trends

The global monoclonal antibodies in veterinary health market size is expected to reach USD 2.67 billion by 2030 expanding at a CAGR of 16.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing pet population coupled with the rising pet expenditure is expected to boost the market growth. Furthermore, the growing prevalence of canine atopic dermatitis is also likely to drive market growth over the forecast period.

Despite disruption due to the COVID-19 pandemic, the animal health industry witnessed a steady growth of 8% from 2019 to 2020. The economic downturn is relatively lower in the animal health market as compared to others. There will be a shift in business models for veterinarians. Traditional veterinary practices generate a majority of their revenues from selling high-margin products like pharmaceuticals.

The growing incidence of cancer, especially in dogs, is anticipated to provide a growth platform for the market. According to the American Veterinary Medical Association (AVMA), around 1 in 4 dogs are expected to suffer from neoplasia at some point in their lives. Neoplasia is a common type of cancer in dogs. Pain management is one of the most important aspects of the treatment of neoplasia in dogs. This can also be catered to using monoclonal antibody treatment.

The market is highly competitive and consists of several major players. With the emergence of immense opportunities in the market, various players in the market are making investments to emerge as leading players. For instance, in October 2021, Zoetis invested in new manufacturing and development facility in Ireland, to increase its Monoclonal Antibodies (mAbs) production capabilities. This is anticipated to enhance its veterinary therapeutic biopharmaceuticals portfolio. Moreover, in August 2021, Elanco acquired Kindred Biosciences for approximately USD 444 million. This supported the company’s access to the dermatology market, complemented its product pipeline, and enhanced R&D capabilities in biologics and monoclonal antibodies.

Monoclonal Antibodies In Veterinary Health Market Report Highlights

• In terms of revenue, the dogs’ segment dominated the animal type segment with a share in 2021 owing to the growing adoption of dogs as pets
• Based on the application, the dermatology segment is expected to account for the largest market share of over 55% owing to the increasing prevalence of canine atopic dermatitis
• The veterinary hospitals’ segment is expected to account for the dominant market share owing to the availability of advanced treatment facilities in veterinary hospitals
• The North American region is anticipated to account for the largest market share of around 44% owing to the presence of major market players in the region