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Veterinary Vaccines Marketglobal Trends, Market Share, Industry Size, Growth, Opportunities
Global Veterinary Vaccines Market is estimated to value over USD 4.5 billion by 2026 end and register a CAGR of over 13% during the forecast period 2019 to 2026.
The global veterinary vaccines market growth is steered by the increase in the ownership of pets in emerging nations and the rising number of poultry and cattle in developing nations. Moreover, soaring investments for vaccine research and development, which shall hinder the growth of organisms that are resistant to antibiotics strengthens market growth. For example, Elanco, in August 2016, invested 2/3rd of the budget over animal food unit for developing vaccines and reduce the usage of antibiotics. Furthermore, the rising insistence for vaccination of animals has resulted in the arrival of numerous innovative vaccinations. For example, Ceva announced a new vaccine, CevacIBron, in February 2017, that prevents from infectious bronchitis virus.
Although, a dearth of awareness regarding animal health and the negative impact of veterinary vaccines on humans can impede the market growth. Additionally, the production of animal vaccines for hybrid animals and advancements in vaccine products can aid in opening lucrative opportunities for the proliferation of the market.
Attenuated vaccines subjugated the market with a major global veterinary vaccines market share. The attenuated vaccines can offer stronger immunity in comparison with other vaccines with the activation of a vast range of immune responses. Furthermore, it induces rapid and long-lasting immunity onset, it can be administered via oral route and they assist in reducing the necessity for booster vaccines, which has a positive impact on the market growth.
The cattle segment incurred the most revenue in 2018, and this can be credited to an increase in the consumption of dairy products, milk and meat, thus making viable animal health a crucial aspect in the management of diseases. Although, the companion animals are predicted to become the segment with the fastest growth as numerous animals are usually domesticated by humans and humans can also get affected by animal infections like rabies. Furthermore, increasing awareness with respect to the importance of vaccines for cats and dogs and the rising adoption rate of these companion animals aid to spur the market augmentation.
The North American region held the highest value of revenue in the global market. This is due to companion animals getting rapidly adopted, rise in the milk and meat consumption and an increase in the awareness pertaining to the advantages of using veterinary vaccines. The Asia-Pacific region possesses high global veterinary vaccines market potential that could impact the veterinary vaccines market trends owing to an increase in the number of pet owners and the rising prevalence of different zoonotic diseases. Furthermore, current research on the new production of vaccine technology has increased owing to high insistence for food products based on companion animals and other animals. Additionally, a steady flow of investments by animal healthcare firms has up scaled the overall vaccine production in the region.
Key market players included in the global veterinary vaccines industry are Zoetis, Merck Animal Health, BoehringerIngelheim, Elanco, Ceva, Virbac, Vetoqunol, Phibro Animal Health, Hester, Hipra, Biologika, Biogenesis Bago, Tianjin Ringpu, China Animal Husbandry, Jinyu Bio-Technology.
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Global Veterinary Vaccines Market Segmentation:
• Porcine Vaccines
• Poultry Vaccines
• Livestock Vaccines
- Bovine Vaccines
- Small Ruminant Vaccines
• Companion Animal Vaccines
- Canine Vaccines
- Feline Vaccines
• Aquaculture Vaccines
• Other Animal Vaccines
- Small Ruminants
• Companion Animals
• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Recombinant Vaccines
• Other Vaccines
• North America
• Asia Pacific
• Rest of the World
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FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global veterinary vaccines market by type, by disease, by technology and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific and the rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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