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

Report Overview

The global monoclonal antibodies in veterinary health market size was valued at USD 0.68 billion in 2021 and is estimated to grow at a compound annual growth rate (CAGR) of 16.7% from 2022 to 2030. The increasing prevalence of atopic dermatitis along with the growing pet adoption rate are the major factors boosting the market growth. Furthermore, rising research & development expenditure by market players for the development of cancer therapeutics is also likely to fuel the market growth over the forecast period.

Despite the prolonged lockdowns and supply chain disruptions during the COVID-19 pandemic, market players did not report any decline in their revenues. For instance, Zoetis reported an increase of 22% in its dermatology segment revenue from 2019 to 2020 and an increase of 25% from 2020 to 2021. In contrast, there was an increase in pet adoption. Around 50% rise in pet adoption was reported in the U.S, during the first quarter of the pandemic. This led to the growing number of pet households along with the expenditures on them, which included medical expenditures.

According to the National Pet Owners Survey conducted by the American Pet Products Association (APPA), as of 2021-2022, around 90.5 million families, i.e. 70% of households in the U.S. owned a pet. As per the same report, the total number of pets insured in the U.S. in 2021 was 3.9 million, a 28% increase since 2020. An increase in the number of pet owners is driving the need for better treatment options for companion animals, which is resulting in rising health expenditure on pets. This increasing pet expenditure leads to rising demand for more effective therapeutics, which is anticipated to fuel the market growth.

The increasing prevalence of canine atopic dermatitis is also likely to act as a driving factor in market growth. Canine atopic dermatitis is a hereditary clinical syndrome in domestic dogs. Furthermore, the most common cause of itchy allergic skin disease in dogs is atopic dermatitis. According to data published by Frontiers Media S.A. in October 2020, the disease is estimated to affect around 10-15% of the canine population. The publication also stated that this number is likely to increase with time. Market players such as Zoetis have products such as Cytopoint, which was the first-ever monoclonal antibody treatment for allergic and atopic dermatitis.

The increasing incidence of cancer, especially in canines, is expected to positively impact the market growth. As per a study published by the Animal Cancer Foundation, 32 million cats and 65 million dogs are suffering from cancer in the U.S. Dogs are more likely to suffer from malignant neoplasia (tumor) and lymphoma, as per the American Veterinary Medical Association. Moreover, the market is supported by various health initiatives, especially focusing on cancer treatment, by the government as well as private organizations.

Animal Type Insights

The dogs' segment held the highest share in 2021 owing to the availability of more monoclonal antibody products for dogs in the market. In addition to this, the population of dogs as pets is also rising, along with which expenditure on their health is also rising, which is further boosting the market growth. According to data published by the Pet Food Manufacturers’ Association, as of 2021, there were 12 million pet dogs in the U.K. This accounted for 33% of households.

The others segment is estimated to witness the fastest growth rate of 17.3% over the forecast period. Other animals include cats, horses, and livestock animals. The rising prevalence of various chronic diseases in animals along with the rising adoption of pet insurance is also anticipated to fuel the market growth. Furthermore, according to the American Society for the Prevention of Cruelty to Animals, in the U.S. around 85.8 million pets owned are cats, as compared to dogs (78 million). In terms of ownership, this amounts to 35% of households.

End-User Insights

By end-user, Veterinary Hospitals accounted for the largest share of the market in 2021. This is owing to the presence of novel therapies. Furthermore, the number of veterinary hospitals along with the number of veterinarians is rising, which leads to positive market growth. According to a report published by Petpedia.co, in 2018, there were 84,200 veterinarians in the U.S. This number was estimated to increase by around 14,200 by 2029.

The others segment is anticipated to grow at the highest CAGR of 17.6% during the projected period. Others’ segment includes clinics, research organizations, and academic institutes, among others. Increasing research activities for the development of novel monoclonal antibody therapeutic options is also anticipated to fuel market growth. Furthermore, growing awareness regarding advanced veterinary therapeutic alternatives is also estimated to boost the market growth.

Application Insights

The Dermatology segment is estimated to hold the largest market share of around 56% in 2021 owing to the presence of various products in this category. In addition to this, the growing incidences of atopic dermatitis in animals coupled with other infectious skin diseases are expected to boost the market growth. According to a report published by Scientific Reports in 2021, the prevalence of S. pseudintermedius in healthy and sick cats was 2.49% and 7.61%, respectively in Poland. S. pseudintermedius or Staphylococcus pseudintermedius is a type of bacterial infection in canines and felines.

The Others segment is anticipated to witness the fastest growth rate of 17.7% over the projected period. Others included diseases such as cancer, arthritis, and various infectious diseases, among others. The fastest growth is attributed to various R&D activities to develop innovative treatment options. Furthermore, the pain segment is also expected to account for a significant market share in 2021 owing to the presence of various products in the segment.

Regional Insights

North America is anticipated to dominate the global market with a share of around 44% in 2021. This is owing to the various initiatives undertaken by the government and private sector coupled with the growing adoption of pet insurance. Furthermore, the presence of key companies in the U.S. is also likely to boost the market growth. North American Pet Health Insurance Association, Inc. reported that the pet insurance industry is growing at a notable rate of 23.4% over the last few years. Moreover, at the end of 2020, about 3.45 million pets were insured across the North America region.

The market in the Asia Pacific is likely to grow at the highest CAGR of around 19.9% over the projected period owing to the rising emergence of local players along with the growing number of veterinary hospitals and clinics. Furthermore, the increasing adoption of pets along with the awareness regarding their diseases and the availability of treatment alternatives is further expected to boost the market growth.

Key Companies & Market Share Insights

The monoclonal antibodies in veterinary health market is competitive. Key companies deploy strategic initiatives, such as product development and launches, sales & marketing strategies to increase product awareness, regional expansion, and partnerships to strengthen their market share. For instance, in January 2022, Zoetis announced the U.S. FDA approval of Solensia, a product for pain management of osteoarthritis in cats. Similarly, in January 2022, Boehringer Ingelheim International GmbH announced that it has collaborated with MabGenesis, a privately-held biopharmaceutical company in Japan. This initiative aimed to develop monoclonal antibodies for canine diseases.Some of the key players in the global monoclonal antibodies in veterinary health market include:  

• Zoetis

• Merck & Co, Inc.

• Elanco

• Boehringer Ingelheim GmbH

• Indian Immunologicals Ltd

• Virbac

Monoclonal Antibodies In Veterinary Health Market Report Scope

Global Monoclonal Antibodies In Veterinary Health Market Segmentation

This report forecasts revenue growth at the regional & country level and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2017 to 2030. For this report, Grand View Research has segmented the global monoclonal antibodies in veterinary health market based on animal type, application, end-user, and region:

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Dermatology

  • Pain

  • Others

• Animal Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Dogs

  • Others

• End-User Outlook (Revenue, USD Million, 2017 - 2030)

  • Veterinary Hospitals

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • MEA

    • South Africa

    • Saudi Arabia