The global animal vaccines market is likely to develop at an estimated CAGR of 7.25% over the forecast period 2025
Vaccination is an effective way to prevent ailments prevailing in cattle and pets. It plays a significant role in maintaining animal health and curtails the occurrence of parvovirus, rabies, hepatitis, and distemper. Vaccination reduces animal suffering and eliminates the risk of contamination of microorganisms in the animal population. Animal vaccines are more affordable than treatments for sick animals. The global animal vaccines market has been witnessing a remarkable improvement owing to the continuous research and development in the industry.
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Surging entry of market players primarily drives the animal vaccines market. Additionally, constant R&D coupled with increased implementation of advanced technology in the animal vaccines industry fuel the market growth to a large extent. For instance, World Health Organization (WHO) has recently updated about a third generation live veterinary rabies vaccine which has been developed using recombinant technology. Additionally, increasing adoption of pets, rising incidences of livestock ailments, and increasing government initiatives are also expected to accelerate the market growth. However, scarce reporting and surveillance systems and soaring storage costs for vaccines are likely to deter the market growth over the forecast period.
The global veterinary vaccines market has been segmented into type and technology.
Based on type, the veterinary/animal vaccines market has been segmented into livestock vaccines, porcine vaccines, companion animal vaccines, poultry vaccines, and aquaculture vaccines. The livestock vaccines segment was the largest segment of the veterinary/animal vaccines market in 2017, valued at USD 1,558.94 million in 2017.
On the basis of technology, the global veterinary/animal vaccines market has been segmented into live attenuated vaccines, inactivated vaccines, recombinant vaccines, and toxoid vaccines.
Veterinary/Animal Vaccines Market Regional Analysis
On the basis of region, the global veterinary Vaccines Market Size is segmented into the Asia Pacific (APAC), the Americas, Europe, and the Middle East and Africa.
The American region accounts for the largest share of the global veterinary/animal vaccines market and is anticipated to retain its lead over the review period. The is attributed to the increasing adoption of pets, rising livestock population, and diseases prevalence.
Europe is a significant region in the global market for veterinary vaccines and is expected to witness considerable growth over the assessment period, owing to the technological advancements taking place towards veterinary vaccines. The growth of the government and private sector of the healthcare industry in the region is also expected to contribute substantially to market growth.
The Asia Pacific is assessed as the fastest-growing region of the global veterinary/animal vaccines over the evaluation period. This is credited to the increasing penetration of the veterinary sector in the region, rising numbers of private veterinary clinics, growth in consumer awareness regarding animal welfare, and the increasing effort of non-governmental organizations (NGOs) towards animal welfare.
The middle east and African region are expected to account for the smallest market share over the review period. This can be attributed to the weak healthcare sector in the region, lack of skilled workforce, and the increasing political unrest in some parts of the middle east and Africa. The market in the region is expected to exhibit slow growth over the review period owing to the increasing government initiatives in Africa to improve the healthcare sector and the growing awareness of animal welfare in middle eastern countries.
The worldwide animal vaccines market are dominated by key players such as Biogenesis Bago, Bayer AG, China Animal Husbandry, Boehringer Ingelheim GmbH, Hester, Elanco Animal Health, Indian Immunologicals Limited, Idt Biologika, MSD Animal Health, Merck Animal Health, Tianjin Ringpu, Phibro Animal Health, Zoetis Inc., Vetoquinol, and others.
List of Tables
TABLE 1 MARKET SYNOPSIS 16
TABLE 2 PRIMARY INTERVIEWS 21
TABLE 3 GLOBAL VETERINARY/ANIMAL VACCINES MARKET, BY TYPE, 2020–2027 (USD MILLION) 36
TABLE 4 GLOBAL VETERINARY/ANIMAL VACCINES MARKET, FOR LIVESTOCK VACCINES, BY TYPE, 2020–2027 (USD MILLION) 36
TABLE 5 GLOBAL VETERINARY/ANIMAL VACCINES MARKET, FOR COMPANION ANIMAL VACCINES, BY TYPE, 2020–2027 (USD MILLION) 37
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