Monoclonal Antibodies In Veterinary Health Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Monoclonal Antibodies In Veterinary Health Market Analysis

The Monoclonal Antibodies In Veterinary Health Market size is estimated at USD 1 billion in 2024, and is expected to reach USD 2.10 billion by 2029, growing at a CAGR of 16.60% during the forecast period (2024-2029).

The monoclonal antibodies in veterinary health market is strengthened by various factors, such as the rising burden of chronic disorders among animals, the high adoption rate of pets and concerns for pet care, and growing investments for significant therapeutic monoclonal antibodies.

The increased burden of chronic disorders and infections, including atopic dermatitis, cancer, diabetes, and autoimmune diseases among animals, leads to the high demand for monoclonal antibodies to treat and prevent disorders, boosting market growth. For instance, the article published in the Journal of Veterinary Sciences in November 2023 provided data that canine atopic dermatitis (CAD) is a common and troublesome chronic allergic skin condition that impacts around 20% to 30% of dogs. Similarly, the Veterinary Cancer Society in 2023 reported that cancer is contributing significantly to the deaths of 47% of dogs and 32% of cats. Thus, the high burden of chronic disorders among animals is expected to raise the demand for monoclonal antibodies in their treatments, propelling market growth over the forecast period.

Pet owners are increasing yearly, coupled with growing concerns about maintaining pet healthcare and services. The increase in the number of pet owners would lead to the growth in the market of monoclonal antibodies in veterinary health. For instance, as per the 2023-2024 report issued by the American Pet Products Association (APPA), 70% of American households adopted a pet, accounting for 90.5 million households. According to the North American Pet Health Insurance Association (NAPHIA), in 2023, the number of insured pet animals increased by 20.9% from 2022 (around 5.17 million pets), accounting for 6.25 million. The significant growth in expenditures due to the rising concerns for therapies and treatments is driving market growth.

Furthermore, the market players are focusing on introducing new monoclonal antibodies for animals to improve their health, contributing to market growth. For instance, in June 2023, Zoetis introduced the first monoclonal antibody, Oclactinib tablet (Apoquel), for treating atopic dermatitis in dogs. It provided data demonstrating the clinical efficacy and tolerating response with positive results. In May 2023, Elanco introduced the first and only approved monoclonal antibody product, which effectively treats canine parvovirus, ensuring clinical safety and effectiveness with a single dosage in dogs. Thus, to control the high impact of diseases among animals, there is a need to adopt measures and treatments that contribute to the market growth of monoclonal antibodies.

Thus, the rising number of chronic disorders and infections among animals and pet owners' growing interest and concerns associated with animal health maintenance are expected to contribute significantly to market growth. However, the high costs of animal healthcare products and treatments and stringent regulatory issues are the main factors expected to hinder market growth during the forecast period.

Monoclonal Antibodies In Veterinary Health Market Trends

The Dogs Segment is Witnessed to Hold the Highest Market Share During the Forecast Period

Monoclonal Antibodies In Veterinary Health Industry Segmentation

According to the scope, monoclonal antibodies are the antibodies that are developed by the immune cells to mimic the immune responses caused by the pathogens in animal health. These antibodies are highly effective in preventing and treating cancer, autoimmune diseases, and chronic infections in animals; thus, they are highly adopted by veterinarians.

The monoclonal antibodies in veterinary health market is segmented by animal type, application, end user, and geography. By animal type, the market is segmented into dogs and other animal types. By application, the market is segmented into dermatology, pain, and other applications. By end user, the market is segmented into veterinary hospitals and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. The market size is provided for each segment in terms of value (USD).