Animal Vaccines Market is expected to reach USD 12.6 billion by 2025. Vaccine administration is a process that increases the resistant or immune power to an infectious disease. The aim of veterinary/animal vaccines is to recover the welfare and health of companion animals, prevent the transmission of diseases from animals to human from wildlife as well as domestic animals, and cost-efficiently rise the production of livestock. The vaccines may be administered via oral or parenteral routes. The Veterinary Vaccines Market is estimated to grow at a significant CAGR over the forecast period as the scope and its applications are rising enormously across the globe.
Growing
livestock population, rise in breakouts of livestock diseases, increasing zoonotic
diseases, increasing initiative by government agencies, and growing number of
key players are documented as major factors of Veterinary/Animal Vaccines
industry that are estimated to enhance the growth in the years to come.
However, high cost of vaccine and its storage are the factor that may restrain
overall market growth in the coming years. Animal Vaccines Market is segmented
based on type, disease type, technology, and region.
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Aquaculture
Vaccines, Porcine Vaccines, Companion Animal Vaccines, Poultry Vaccines,
Livestock Vaccines, and other types could be explored in Veterinary/Animal
Vaccines in the forecast period. Livestock vaccines include Small Ruminant
Vaccines and Bovine Vaccines. On the other hand, companion animal vaccines
include Feline Vaccines and Canine Vaccines.
The
porcine vaccines sector accounted for the largest market share of
Veterinary/Animal Vaccines in terms of value. In addition, Companion Animal
Vaccines sector is estimated to grow at fastest pace in the coming years. This
may be because of growing awareness regarding companion animal vaccination,
increasing number of pet and pet ownership, and growing occurrence of zoonotic
diseases in humans.
Aquaculture
Diseases, Porcine Diseases, Companion Animal Diseases, Poultry Diseases,
Livestock Diseases, and others are the diseases that could be explored in
Veterinary/Animal Vaccines in the forecast period. The porcine sector accounted
for the substantial market share and is estimated to lead the overall market in
the coming years.
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The
enhanced technology includes Recombinant Vaccines, Live Attenuated Vaccines,
Toxoid Vaccines, Inactivated Vaccines, and others that could be explored in the
forecast period. The live attenuated vaccines sector accounted for the
substantial market share of Veterinary/Animal Vaccines and is estimated to
continue its dominance in the coming years. This may be because it offers
long-term immunity and can be administered easily.
Globally,
Europe is accounted for the substantial market share of Veterinary/Animal
Vaccines in terms of revenue and is estimated to lead the overall market in the
coming years. The reason behind the overall market growth could be rising use
of enhanced technology and presence of key manufacturers in the region.
Instead, North America and the Asia Pacific are also estimated to have a
positive influence on the future growth.
North
America is the second largest region with significant market share. However,
Asia Pacific is estimated to grow at fastest pace with the highest CAGR in the foremost
period. The aspects that may be ascribed to the growth comprise growing
investment in vaccine manufacturing services in developing countries, growing
pet adoption, and development of key manufacturers in the region.
The
key players of Veterinary/Animal Vaccines Market are Virbac, Zoetis, Phibro
Animal Health, Merck Animal Health, Ceva, Elanco, and BoehringerIngelheim.
These players are concentrating on inorganic growth to sustain themselves
amongst fierce competition. As companies all over the world have to believe
that alliance with a market would permit them proportional market existence and
authority to declare the leadership position.
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