The veterinary vaccines market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the veterinary vaccines market is estimated to be 6.47 USD Billion in 2015 and predicted to rise to USD 8.46 Billion in 2023 with a CAGR of 5.50%. The market is segmented by Type (Livestock Vaccines and Companion Vaccines) and by Technology (live attenuated vaccines, inactivated vaccines, recombinant vaccines, toxoid vaccines, subunit vaccines, DNA vaccines and conjugate vaccines). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
In the recent years, owing to increasing husbandry practices and better management of farms Veterinary vaccine market has shown significant growth. This letters the approximation of supplementary growth in the market due to advancement in biotechnological research. The global veterinary vaccines market has experienced substantial development during the past few years with the increasing usage of continuous cell lines as a substrate and embracing of the fermenter technology for antigen manufacture. These vaccines are produced for administration by parenteral or oral routes depending on the features.
Growing incidence of animal ailments, rising occurrences 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 development of new products. However, rising maintenance costs for the storage of vaccines, increasing adoption of vegetarian diet in major economies owing to increasing risk of obesity and other chronic diseases are key restraints of this market.
In addition to aforementioned segments, based on Animal Type, the livestock vaccines segment has been further segmented into five categories namely, bovine, porcine, ovine, poultry and equine. The bovine vaccines segment has the highest share followed by porcine. Also, the companion animal vaccines segment has also been further categorized into feline and canine vaccines. The canine vaccines segment dominates the feline vaccines segment, due to higher average cost allied with canine vaccination. Europe is leading the veterinary vaccine market in terms of consumption, followed by the U.S. These two regions together account for approxmately 70% of the global veterinary vaccine market revenue.
Some of the key players influencing the market are 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 Heath, Inc., Merck & Co. Inc, and Protein Sciences.
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