The global veterinary/animal vaccines market is expected to grow at CAGR of 6.38% to reach USD 9,910.59 million During The Forecast period.
Veterinary vaccines are used to prevent infectious diseases caused by various causing agents and to provide protection to animals from various life-threatening disorders. Majority of the products are used for immunization of companion animals, ruminants, swine, poultry, and aquaculture. Veterinary vaccination has been proved helpful in the prevention of outbreak of livestock diseases.
An increasing number of pet owners, growing livestock population and disease outbreaks have led to the growth of the global veterinary/animal vaccines market in recent years. However, high storage cost associated with veterinary vaccines is likely to restrain the market growth over the forecast period.
Market Research Future (MRFR) recognizes the following companies as the key players in the global veterinary/animal vaccines market that includes Boehringer Ingelheim International GmbH (Germany), Zoetis (US), Ceva (US), MSD & Co. Inc (US), Elanco (US), Virbac (France), Phibro Animal Health Corporation (US) Hipra (Spain), IDT Biologika GmbH (Germany), Biogenesis Bago SA (Argentina), and others.
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The global veterinary/animal vaccines market has been segmented into type, technology, and region. Based on type, the veterinary/animal vaccines market has been segmented into livestock vaccines, porcine vaccines, companion animal vaccines, poultry vaccines, and aquaculture vaccines. On the basis of technology, the global veterinary/animal vaccines market has been segmented into live attenuated vaccine, inactivated vaccines, recombinant vaccines, and toxoid vaccines.
Geographically, the Americas is expected to dominate the global veterinary/animal vaccines market. This is owing to the increasing number of pet owners, and growing livestock population and disease outbreaks. Europe showed a considerable amount of growth in the market due to the advances in the technology underlying veterinary vaccines and government & private support. Asia-Pacific is estimated to be the fastest growing region in the market. This is owing to the growing penetration of the veterinary sector, surging number of private veterinary clinics, increasing awareness about animal welfare, and rising non-governmental organizations’ (NGOs) work for the welfare of animals. On the other hand, the Middle East & Africa has the least share of the market.
Key Findings of the Study:
Global veterinary/animal vaccines market is projected to reach USD 9,910.59 million by 2025 with 6.38% CAGR during the review period of 2018 to 2025
Americas accounted for the largest share due to in the region
The livestock vaccines segment is accounted for the largest share, holding a market value of USD 1,558.94 in 2017.
Some of the players operating in the veterinary/animal vaccines market are Boehringer Ingelheim International GmbH, Zoetis, Ceva, MSD & Co. Inc., Elanco among others.
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