The Global Veterinary Vaccines Market is poised to reach USD 8.46 Billion by 2024 from USD 6.47 Billion in 2019, at a CAGR of 5.5% from 2019 to 2024. Veterinary Vaccines Market has seen significant growth over the past few years, due to fear of imminent epidemics that have led to substantial losses, particularly in the poultry segment.
Drivers
Veterinary Vaccine market has shown significant growth in recent years which can be attributed to increasing husbandry practices and better management of farms. This marks the estimation of further growth in the market due to the advancement in biotechnological research. The global veterinary vaccines market has undergone considerable progress during the past few years with the growing usage of continuous cell lines as a substrate and embracing of the fermentor technology for antigen production. These vaccines are produced for administration by parenteral or oral routes depending on the vaccine characteristics.
Challenges
However, rising maintenance costs for the storage of vaccines, increasing adoption of a vegetarian diet in major economies owing to the increased risk of obesity and other chronic diseases are key restraints of this market.
Opportunities
Growing prevalence of animal diseases, rising incidences of zoonotic diseases in humans; increasing investments by leading players, various government agencies, and animal associations; continuous innovations, increasing awareness against the use of antimicrobials is driving the vaccine producers to invest significantly into the development of new products.
This research report on the Global Veterinary Vaccines Market segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2024.
Veterinary Vaccines Market - By Type:
On the basis of the type, the Livestock vaccine type is holding with the highest shares of the market. Increasing the livestock population is a primary factor for the growth of this segment. Growing concern towards animal healthcare is also greatly influencing the demand of the market. The rise in the demand to prevent the spread of diseases from animals to humans is leveling up the growth rate of the market.
Among companion vaccines, The canine vaccines segment accounted for a slightly larger share (in terms of revenue) than the feline vaccines segment, due to higher average cost allied with canine vaccination.
Veterinary Vaccines Market - By Production Technologies:
On the basis of production technologies, Live attenuated vaccines production technology is having the highest growth rate from the past few years and is to continue the same growth in the coming years. The introduction of various products with advanced technologies is likely to bolster the demand of the market. Increasing awareness towards manufacturing effective vaccines inappropriate with the diseases is spurring the growth rate of the market. Rise in the investments on veterinary hospitals by both private and public organizations is gearing up the demand of the market.
Veterinary Vaccines Market - By Region:
The European region is leading the veterinary vaccine market in terms of consumption, followed by the U.S. These two regions together account for more than 70% of the global veterinary vaccine market revenue. in Europe, Increasing incidences of zoonotic diseases and demand to prevent and cure of these diseases with certain medications is expanding the growth rate of the veterinary vaccines market. Stringent rules and regulations so as to promote effective treatment procedures in the hospitals are leveraging the growth of the market in this region.
North America is holding dominant shares of the market by owing to the quick adoption of the latest technologies and the launch of various quality products at a low cost. In addition, increasing capital income in developed and developing countries is likely to outshine the growth of the market to the extent. Asia pacific is positioned next to North America in leading dominant shares of the market with the increased priority to improve the quality of poultry products is escalating the growth of the market. Also, a rise in the awareness programs through campaigns and digital advertisements are elevating the demand of the market. The Middle East and Africa are having a slow growth rate from recent years and it is expected to have a slight inclination in the growth rate in the coming years.
Companies leading the Global Veterinary Vaccines Market profiled in the report are
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.1 Introduction
2.2 Analysis Design
2.3 Research Phases
2.3.1 Secondary Research
2.3.2 Primary Research
2.3.3 Econometric Modelling
2.3.4 Expert Validation
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1 By Type
5.1.1 Livestock vaccines
5.1.1.1 Bovine
5.1.1.2 porcine
5.1.1.3 Ovine
5.1.1.4 Poultry
5.1.1.5 Equine
5.1.2 Companion vaccines
5.1.2.1 canine
5.1.2.2 feline
5.2 Technology
5.2.1 Live attenuated vaccines
5.2.2 Inactivated vaccines
5.2.3 Recombinant vaccines
5.2.4 Toxoid vaccines
5.2.5 Subunit vaccines
5.2.6 DNA vaccines
5.2.7 Conjugate vaccines
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Bayer Healthcare AG
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Bioniche Animal Health Canada
8.3 Sanofi Animal Health Inc.
8.4 Biogenesis Bago SA
8.5 Heska Corporation
8.6 Indian Immunologicals Ltd.
8.7 Boehringer Ingelheim GmbH
8.8 Novartis Animal Health, Inc.
8.9 Merck & Co. Inc.
8.10 Protein Sciences
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
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