PUBLISHER: The Business Research Company | PRODUCT CODE: 1527154
PUBLISHER: The Business Research Company | PRODUCT CODE: 1527154
Veterinary autoimmune disease therapeutics encompass treatments tailored to manage and alleviate animal autoimmune conditions. These therapies are geared towards modulating or suppressing the immune response to mitigate inflammation, halt further tissue damage, and enhance the overall well-being and quality of life of affected animals. Given the complexity of these conditions, veterinary autoimmune disease therapeutics necessitate a customized approach, taking into account the specific disease, its severity, and the individual needs of the animal.
The primary types of therapy within veterinary autoimmune disease therapeutics include corticosteroids, azathioprine, cyclosporine, mycophenolate, leflunomide, cyclophosphamide, levothyroxine, folic acid, hydroxychloroquine, and chloroquine. Corticosteroids, derived from steroid hormones produced in the adrenal cortex, are commonly utilized in medicine to diminish inflammation and suppress immune activity. They are administered to various animals, including companion and livestock animals, to address conditions such as disease-type hypothyroidism, pemphigus disease, canine lupus, autoimmune hemolytic anemia, bullous pemphigoid, discoid lupus erythematosus (DLE), immune-related arthritis, among others. These therapeutic agents are typically dispensed through veterinary hospitals and clinics.
The veterinary autoimmune disease therapeutics research report is one of a series of new reports from The Business Research Company that provides veterinary autoimmune disease therapeutics market statistics, including the veterinary autoimmune disease therapeutics industry's global market size, regional shares, competitors with a veterinary autoimmune disease therapeutics market share, detailed veterinary autoimmune disease therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the veterinary autoimmune disease therapeutics industry. This veterinary autoimmune disease therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The veterinary autoimmune disease therapeutics market size has grown strongly in recent years. It will grow from $3.05 billion in 2023 to $3.25 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The increase in the historic period can be credited to progress in immunology, higher rates of pet ownership, enhanced diagnostic techniques, the emergence of new medication categories, and heightened awareness of pet well-being.
The veterinary autoimmune disease therapeutics market size is expected to see strong growth in the next few years. It will grow to $4.20 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. In the projected period, growth can be ascribed to advancements in biotechnology, greater investments in veterinary healthcare, the escalating incidence of autoimmune disorders in animals, the creation of innovative treatments, and the expanding adoption of pet insurance. Prominent trends expected in the forecasted period encompass tailored medical approaches, utilization of biologics, incorporation of telemedicine, uptake of regenerative therapies, and a focus on holistic and integrated treatments, such as personalized medicine, biologics usage, telemedicine integration, regenerative therapy adoption, and emphasis on holistic and integrative remedies.
The increased funding for research in veterinary medicine is anticipated to drive the growth of the veterinary autoimmune disease therapeutics market in the coming years. Veterinary medicine, which focuses on preventing, diagnosing, and treating diseases, disorders, and injuries in animals, is receiving more funding due to various factors such as rising zoonotic diseases, the expanding pet industry, technological advancements in animal health, agricultural needs, and wildlife conservation efforts. This increased funding supports research on veterinary autoimmune diseases, including studies on disease mechanisms, diagnostic tools, and treatment options, thereby enhancing the ability to diagnose and manage these conditions effectively. For example, the National Institute of Food and Agriculture announced the Veterinary Service Grants Program in August 2024, investing $3.2 million in rural food animal veterinary medicine in the fiscal year 2022 across the United States. Hence, the heightened research funding in veterinary medicine is propelling the growth of the veterinary autoimmune disease therapeutics market.
Key players in the veterinary autoimmune disease therapeutics market are focusing on developing autoimmune disease research projects to advance treatment options and enhance animal health outcomes. These projects help in uncovering disease mechanisms, leading to the development of more effective and targeted treatments. For instance, the Royal Veterinary College launched the ImmunoRegistry in November 2021, a comprehensive research project aimed at improving the understanding and management of autoimmune diseases in dogs. This project involves an observational registry collecting real-time data on dogs diagnosed with autoimmune diseases over one year after diagnosis, aiming to gather detailed information about disease progression and treatment effectiveness in various dog breeds.
In February 2021, Merk & Co. Inc. acquired Pandion Therapeutics Inc., a biopharmaceutical company focusing on novel therapies for veterinary autoimmune diseases. With this acquisition, Merck aims to identify and develop candidates with unique and potentially fundamental traits, thereby strengthening its position in the veterinary autoimmune disease therapeutics market and contributing to advancements in treating autoimmune diseases in animals.
Major companies operating in the veterinary autoimmune disease therapeutics market are Pfizer Inc, Merck & Co Inc, AbbVie Inc., Sanofi S.A., Novartis AG, GlaxoSmithKline, Takeda Pharmaceutical Company, Amgen Inc., Teva Pharmaceuticals Industries Ltd., Zoetis Inc, Boehringer Ingelheim International GmbH, Sumitomo Pharma Co. Ltd., IDEXX Laboratories Inc., Cipla Inc., Mallinckrodt Pharmaceuticals, Virbac S.A, Dechra Pharmaceuticals plc, Neogen Corporation, Vetoquinol S.A., Norbrook Laboratories Limited, Heska Corporation, Bimeda Holdings PLC, Bayer Animal Health Inc, Aratana Therapeutics Inc, Hester Biosciences Limited
North America was the largest region in the veterinary autoimmune disease therapeutics market in 2023. The regions covered in the veterinary autoimmune disease therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the veterinary autoimmune disease therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The veterinary autoimmune disease therapeutics market consists of revenues earned by entities by providing immunosuppressive medications, biologic therapies, supportive therapies and complementary therapies. The market value includes the value of related goods sold by the service provider or included within the service offering. The veterinary autoimmune disease therapeutics market also includes sales of prednisone, mycophenolate mofetil, and methotrexate. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Veterinary Autoimmune Disease Therapeutics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on veterinary autoimmune disease therapeutics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for veterinary autoimmune disease therapeutics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The veterinary autoimmune disease therapeutics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.