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Veterinary Autoimmune Disease Therapeutics Market Trends

Report ID: GMI6228
Published Date: Jul 2023
Report Format: PDF

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Veterinary Auto-immune Therapeutics Market Trends

Some key trends in the market includes growing awareness among pet owners and veterinarians regarding autoimmune diseases in animals, and rising demand for auto-immune therapeutics among companion animals due to the high risk of HIV transmission from an animal source to human with weakened immunity and the transmission of allergy components from companion animals to family members.

The increasing pet ownership is also a key factor driving the growth of market. According to the American Pet Products Association's (APPA) 2021-2022 National Pet Owners Survey, 70% of the U.S. households, or around 90.5 million families, own a pet and this number is expected to increase in future Increasing companion animal ownership leads to rise on animal healthcare, in turn to an increase in the medicalization rate for animals

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The market for veterinary auto-immune therapeutics size was worth USD 3.1 billion in 2022 and is set to reach USD 5.2 billion in 2032 with a 5.3% CAGR from 2023 to 2032 driven by the increasing threat of transfer of zoonotic diseases among humans, rising incidence of auto-immune diseases in livestock animals and increasing awareness and diagnosis of autoimmune diseases.

The corticosteroids segment generated USD 1.1 billion in revenue in 2022 and is expected to grow significantly attributed to the increasing demand for corticosteroids as it helps in reducing the severity of symptoms and provide relief to affected animals.

The North America veterinary auto-immune therapeutics market is expected to reach USD 2.2 billion in 2032 with a 5.5% CAGR from 2023-2032 attributed to the large population of companion animals, including dogs, cats, and horses across the region.

Aratana Therapeutics Inc., Pfizer Inc., Vet-Stem Inc., Ambrx Inc., Taconic Biosciences Inc., JBS United, Virbac, Eli Lily and Company, and Jaguar Animal Health Inc. are some of the top enterprises engaged in the industry