According to the analysis of Market Research Future (MRFR), the global veterinary/animal vaccines market is slated to register a CAGR of 7.2% over the evaluation period (2019-2025). Several factors are likely to influence the market growth, and the global veterinary/animal vaccines market is anticipated to acquire a market valuation of 9910.59 million by 2025.
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The rising livestock populace and the growing prevalence of livestock diseases coupled with the increasing awareness regarding animal health are expected to impact the global veterinary/animal vaccines market significantly. The increasing adoption of companion animals is also an influential factor for market growth over the forecast period. Additionally, the continuous technological advancements in the healthcare sector and enhancement of veterinary vaccines, along with the rise in government initiatives, are also likely to create favorable growth conditions for the market over the review period. On the other hand, the high costs associated with the storage of veterinary vaccines are expected to hinder the growth of the veterinary/animal market over the assessment period.
Segmental Analysis
The segmental study of the veterinary/animal vaccines market has been segmented on the basis of technology, type, and region. The technology segment of the veterinary/animal vaccines market consists of recombinant vaccines, inactivated vaccines, live attenuated vaccines, and toxoid vaccines. The regions included in the veterinary/animal vaccines market are the Middle East, Europe, the Americas, Asia Pacific, and Africa. The veterinary/animal vaccines market segment consists of livestock vaccines, companion animal vaccines, poultry vaccines, porcine vaccines, and aquaculture vaccines.
Veterinary/Animal Vaccines Market Regional Analysis
On the basis of region, the global Veterinary Vaccines Market 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.
Veterinary Vaccines Market Prominent Vendors
The prominent vendors competing within the global veterinary/animal vaccines market include IDT Biologika GmbH (Germany), MSD & Co. Inc (US), Zoetis (US), Virbac (France), Ceva (US), Elanco (US), Boehringer Ingelheim International GmbH (Germany), Biogenesis Bago SA (Argentina), Phibro Animal Health Corporation (US), Hipra (Spain), and others.
Veterinary/Animal Vaccines Market Key Players
The key market players operating in the global veterinary/animal vaccines market by MRFR include Boehringer Ingelheim International GmbH (Germany), Biogenesis Bago SA (Argentina), Ceva (US), Elanco (US), Hipra (Spain), IDT Biologika GmbH (Germany), MSD & Co. Inc (US), Phibro Animal Health Corporation (US), Virbac (France), Zoetis (US), and others.
Industry News
July 2019 – The Colorado State University (CSU) announced a partnership of USD 9.5 million with the Coalition for Epidemic Preparedness Innovations (CEPI), an alliance that is aiming at disrupting epidemics, towards the development of a single-dose vaccine for rift valley fever (RFV) for humans.
July 2019 – The National Institutes of Health (NIH), a renowned medical research center in the US, accorded an approximately USD 1.9 million grant to Zhilong Yang, an assistant professor in the Division of Biology towards his research project on developing human and animal vaccines with the use of vaccinia virus.
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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