Veterinary/Animal Vaccines Market Share, Analysis, Global Industry Demand, comprehensive evaluation and Business Opportunities 2023
The Global Veterinary/Animal Vaccines Market is expected to
grow at an approximate CAGR of 5.65% during forecast period, 2018–2023.
Increasing participation of market players is the key factor
driving the animal vaccines market. For instance, in 2015, Boehringer Ingelheim
launched two new swine vaccines against Porcine Reproductive and Respiratory
Syndrome (PRRS) i.e. Ingelvac PRRSFLEX EU for piglets and ReproCyc PRRS EU for
breeding gilts.
Various other factors such as increasing incidence of
livestock diseases, technological advancements, increasing adoption of
companion animals, and rising government initiatives are also expected to
propel the growth of the market.
However, high storage costs for vaccines, and inadequate
surveillance and reporting systems can hinder the market growth over the
forecast period.
Segmentation
The Global Veterinary/Animal
Vaccines Market is segmented based on type, technology, indications,
composition and region.
The Global Veterinary/Animal Vaccines Market , by type is
segmented into static porcine vaccines, poultry vaccines, livestock vaccines,
companion animal vaccines, aquaculture vaccines, and others. The livestock vaccine is further segmented
into bovine vaccines, and small ruminant vaccines. The livestock vaccine is
further segmented into canine vaccines, and feline vaccines.
The market, by technology, is segmented into live attenuated
vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and
others.
Based on indications, the market is segmented into foot
& mouth disease, parvovirus, distemper, reproductive & respiratory
syndrome, and others.
Based on composition, the market is segmented into mono
vaccine, and combination vaccines.
Regional Analysis
The Americas dominated the global market for animal vaccines
owing to the presence of major market players, rising pet adoption and
developed economies like US and Canada within the region. According to the American
Society for the Prevention of Cruelty to Animals (ASPCA), nearly 6.5 million
companion animals enter US animal shelters nationwide every year.
In 2017, it was estimated that Europe stood second in the
global animal vaccines market. This can be attributed to the rising research
and development investments. For instance, in 2018, Boehringer Ingelheim
announced to reinforce its leading position in the veterinary vaccine market
with 70 million euro investment in the R&D and biological production activities.
Asia Pacific was projected to be the fastest growing region
in 2017. Increasing awareness about animal health drives the regional markets
of the Asia Pacific region. In 2016, at the 5th Global Animal Health
Conference, HealthforAnimals association called for greater cooperation between
national governments to improve market access for veterinary medicines.
On the other hand, the Middle East and Africa held least
share in the global animal vaccines market due to the low per capita income,
especially within the African region. The market growth in this region is
expected to be driven by increasing cases of zoonotic diseases. According to a
2015 study published in the PLOS journal, annual incidences of human rabies in
the Middle Eastern countries vary from 0.02 to 1.3 per million human
populations.
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Key Players
Some of the key players in the global animal vaccines market
are Bayer AG, Biogenesis Bago, Boehringer Ingelheim GmbH, China Animal
Husbandry, Elanco Animal Health, Hester, Idt Biologika, Indian Immunologicals
Limited, Merck Animal Health, MSD Animal Health, Phibro Animal Health, Tianjin
Ringpu, Vetoquinol, Zoetis Inc., and others.
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