The Asia Pacific Veterinary/Animal Vaccines Market is poised to reach USD 1.64 Billion by 2027 from USD 1.16 Billion in 2022, at a CAGR of 7.22% from 2022 to 2027, considered as the fastest-growing region in the global veterinary vaccines market.
Veterinary vaccines are mainly used to prevent the transmission of diseases from animals to humans. These vaccines are specially manufactured to reduce or avoid contracting diseases. The main aim of veterinary vaccines is to promote the good health and well-being of companion animals and increase the production of high-quality poultry products.
Increasing prevalence for producing quality products from the livestock population is a crucial driving factor for the market to grow. In addition, the rise in the incidences of various diseases like zoonotic disease is accelerating the growth of the APAC veterinary vaccines market. People's concern towards animal health is growing eventually, solely to boost the demand of the market. Besides, ongoing research to introduce innovative drugs is leveraging the growth of the market.
However, the lack of skilled persons in developing various vaccines for different health disorders in animals is slowly hampering the market's growth. In addition, stringent rules and regulations by the government in approving new products are restraining the market's demand. Also, increasing prices of treatment procedures in veterinary hospitals remains a challenging factor for the market growth in the Asia Pacific.
Growth opportunities for the market lie in the increasing awareness over the availability of various treatment procedures for different diseases in animals through campaigns and digital advertisements. In addition, a growing number of veterinary hospitals and pharmaceutical industries are ascribed to outshine the market's growth rate. Furthermore, the Veterinary vaccines market in the Asia Pacific is propelled by a rise in the demand to focus on immunization. Besides, shifting the trend towards healthy lifestyles by maintaining a healthy diet with protein foods is likely to outshine the growth of the Veterinary/Animal vaccines market in the Asia Pacific.
This research report on the APAC veterinary vaccines market has been segmented and sub-segmented into the following categories:
Geographically, the Indian Veterinary vaccines market is forecasted to be one of the lucrative regional markets in the APAC market. Rising carious diseases in livestock are bolstering the demand of the market eventually. Also, growing awareness over the availability of different vaccines for various diseases is likely to magnify the market's need.
The Veterinary / Animal vaccine market in China also has significant shares of the market following India. Increasing revenue is one of the best parts for China to have leading shares in this market. In addition, a rise in the adoption of companion animals is boosting up the growth rate of the market.
The Japanese Veterinary Vaccines Market has the fastest growth rate from the past few years and is also expected to have the same growth flow in the coming years. Shifting to DNA vaccines rather than live attenuated vaccines will increase the performance levels in controlling the diseases, and this is majorly considered a growth factor for the market. Also, the Adoption of recombinant vaccine solutions is fuelling the market's growth rate in this country.
The market for veterinary vaccines in Australia is anticipated to have inclined growth rates in the coming years with rising awareness towards safety measurements for animal healthcare.
The South Korean Veterinary Vaccine Market is deemed to have a prominent CAGR in the coming years by increasing investments from private and public organizations.
KEY MARKET PLAYERS:
Bayer HealthCare AG, Bioniche Animal Health Canada, Sanofi Animal Health Inc., Biogenesis Bago SA, Heska Corporation, Indian Immunologicals Ltd., Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Health Inc., Merck & Co Inc., and Protein Sciences are currently playing a leading role in the APAC animal vaccines market profiled in this report.
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