The global Animal Vaccines Market is likely to develop at an estimated CAGR of 5.65% over the forecast period. Vaccination is an effective way to prevent ailments prevailing in cattle and pets. It plays a significant role in maintaining animal health and curtails the occurrence of parvovirus, rabies, hepatitis, and distemper. Vaccination reduces animal suffering and eliminates the risk of contamination of microorganisms in the animal population. Animal vaccines are more affordable than treatments for sick animals. The global animal vaccines market has been witnessing a remarkable improvement owing to the continuous research and development in the industry.
Surging entry of market players primarily drives the animal vaccines market. Additionally, constant R&D coupled with increased implementation of advanced technology in the animal vaccines industry fuel the market growth to a large extent. For instance, World Health Organization (WHO) has recently updated about a third generation live veterinary rabies vaccine which has been developed using recombinant technology. Additionally, increasing adoption of pets, rising incidences of livestock ailments, and increasing government initiatives are also expected to accelerate the market growth. However, scarce reporting and surveillance systems and soaring storage costs for vaccines are likely to deter the market growth over the forecast period.
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The worldwide animal vaccines market are dominated by key players such as Biogenesis Bago, Bayer AG, China Animal Husbandry, Boehringer Ingelheim GmbH, Hester, Elanco Animal Health, Indian Immunologicals Limited, Idt Biologika, MSD Animal Health, Merck Animal Health, Tianjin Ringpu, Phibro Animal Health, Zoetis Inc., Vetoquinol, and others.
The worldwide animal vaccines market has been segmented based on technology, type, composition, and indications. Based on technology the market has been segmented into inactivated vaccines, live attenuated vaccines, recombinant vaccines, toxoid vaccines, and others. Based on type, the global market for animal vaccines has been segmented into poultry vaccines, aquaculture vaccines, static porcine vaccines, companion animal vaccines, livestock vaccines, and others. Livestock vaccines have been sub-segmented into small ruminant vaccines and bovine vaccines. Based on composition, the market has been segmented into combination vaccines and mono vaccine. Based on indications, the market has been segmented into parvovirus, foot & mouth disease, reproductive & respiratory syndrome, distemper, and others.
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The Americas lead the worldwide market for animal vaccines owing to the presence of key market players. Besides, increasing rate of pet adoption and the existence of affluent economies like Canada and the US, drives the animal vaccines market in this region. The American Society for the Prevention of Cruelty to Animals (ASPCA) stated that every year, almost 6.5 million pet animals enter animal shelters nationwide. Organizations like PETA arrange free vaccination camps for animals globally which largely drives the market. In 2017, Europe held the second largest share in the global animal vaccines market. The increasing investments in research and development mostly fuels growth in the Europe market. For instance, in 2018, Boehringer Ingelheim declared reinforcing its key position in the veterinary vaccine market with 70 million euro outlay in the biological production activities & R&D. In 2017, Asia Pacific was expected to be the fastest growing animal vaccines market.
Rising awareness about animal health positively impacts the Asia Pacific market. At the 5th Global Animal Health Conference held in 2016, HealthforAnimals association called for enhanced cooperation between national bodies to increase market access for veterinary medicines. Middle East and Africa market held the least share in the global animal vaccines industry owing to the low per capita income within Africa. The growth in this market is likely to be propelled by growing incidences of zoonotic ailments. A study conducted in 2015 published in the PLOS journal stated that instances of human rabies in the Middle Eastern nations vary from 0.02 to 1.3 per million human populaces.
Table Of Contents:
1. Report Prologue
2. Market Introduction
3. Research Methodology
4. Market Dynamics
5. Market Factor Analysis
6. Global Animal Vaccines Market, By Type ……
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