The Global Animal Biotechnology Market encompasses a diverse array of technologies and methodologies aimed at improving animal health, welfare, and productivity through genetic manipulation, reproductive technologies, and other innovative approaches. This market is driven by the growing demand for sustainable food production, advancements in biotechnology research, and the need to address emerging challenges in agriculture and animal health.

The Global Animal Biotechnology Market is estimated to be valued at US$ 28.9 Bn in 2024in 2024 and is expected to exhibit a CAGR of 8.8 % over the forecast period 2024 to 2031.

Market Drivers

Several factors are propelling the growth of the Global Animal Biotechnology Market Share. The increasing global population and rising demand for protein-rich diets are driving the need for efficient animal production systems. Additionally, the prevalence of animal diseases and concerns regarding food safety have underscored the importance of biotechnological solutions in enhancing animal health and disease resistance. Moreover, advancements in genetic engineering and genomic technologies are enabling the development of novel traits in animals, further fueling market growth.

PEST Analysis

A PEST analysis of the Global Animal Biotechnology Market reveals several key factors influencing its dynamics. Political factors such as regulations governing biotechnological research and genetically modified organisms (GMOs) can significantly impact market access and innovation. Economic factors such as investment in research and development, as well as consumer purchasing power, play a crucial role in shaping market trends. Socio-cultural factors, including consumer acceptance of biotechnological products and ethical considerations, also influence market dynamics. Furthermore, technological factors such as advancements in gene editing and biomanufacturing technologies drive innovation and competitiveness in the market