Pune, India, May 16, 2019 (GLOBE NEWSWIRE) -- According to a report published by Market Research Future (MRFR), the global veterinary/animal vaccines market has been assessed to witness exponential growth over the forecast period of 2019 to 2025 at a compound annual growth rate of 6.38% and is estimated to register a market valuation of USD 9,910.59 million by 2025.
Factors influencing the growth of global veterinary/animal vaccines market are the increasing prevalence of infectious, life-threatening animal diseases, and growing awareness regarding animal health to avoid the alarming risk of diseases spreading to humans such as swine influenza for which veterinary vaccines act as preventive measures. Additionally, technological innovations in vaccines, growing investments by government authorities and non-profit associations, increased demand for animal protein, including milk, meat, eggs, and fish, and the growing adoption of companion animals and increase in healthcare expenditure for them, are also estimated to drive the market over the forecast period.
Factors such as high storage cost for vaccines is expected to restrain animal vaccines market growth to a certain extent.
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Key Players
The key players in the global veterinary/animal vaccines market that includes Zoetis (U.S.), Ceva (U.S.), MSD & Co. Inc (U.S.), Elanco (U.S.), Phibro Animal Health Corporation (U.S.), Boehringer Ingelheim International GmbH (Germany), IDT Biologika GmbH (Germany), Virbac (France), Hipra (Spain), Biogenesis Bago SA (Argentina), and others.
Several market players are working on the development and improvement of veterinary vaccines by investing in research and development and collaborating with research institutions, introducing product approvals and launches, and getting involved in partnerships and acquisitions. These factors have been assessed to contribute substantially to the global veterinary/animal vaccines market over the forecast period.
Segmental Analysis
The global Veterinary/Animal Vaccines Market has been segmented based on the type, technology, and region. The market, based on type, has been segmented into porcine vaccines, livestock vaccines, poultry vaccines, companion animal vaccines, and aquaculture vaccines. Among these, the livestock vaccines segment has been assessed to showcase the largest market share and is estimated to surpass its recorded market valuation of USD 1,558.94 million in 2017, owing to the growing prevalence of livestock disease, foot-and-mouth disease (FMD), increasing incidence of zoonotic diseases, animal care associations, initiatives by governments, among others. The companion animal vaccines segment and porcine vaccines segment are estimated to register a higher market share, due to the increasing prevalence
Based on technology, the global market for veterinary/animal vaccines has been segmented into live attenuated vaccines, inactivated vaccines, recombinant vaccines, and toxoid vaccines. Among these, the live attenuated vaccine segment has been assessed to witness the highest market growth over the forecast period, owing to its properties such as ease of administration and long-term immunity which has risen its demand and adoption rate. The recombinant vaccine segment is also estimated to witness a comparatively higher growth rate.
Based on the region, the global veterinary/animal vaccines market has been segmented into North America & South America, Europe, Asia Pacific, and Middle East & Africa.
Browse the market data and information spread across 133 pages with 118 data tables and 16 figures of the report “Veterinary/Animal Vaccines Market - Forecast 2019-2025” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/veterinary-animal-vaccines-market-2687
The Americas Estimated to Dominate the market, followed by Europe, With APAC as the Fastest Growing Region Over the Forecast Period
North America and South America have been accounted as the largest market share for global veterinary/animal vaccines market over the forecast period, owing to the growing numbers of companion animals, rise in livestock population, and the increasing prevalence of diseases.
Asia-Pacific has been assessed to emerge as the fastest growing region in the global veterinary/animal vaccines market, owing to the increasing number of private veterinary clinics which is consequently contributing to the growth of the veterinary sector, the rising awareness and contribution of non-governmental organizations’ (NGOs) towards animal welfare.
The Middle East & Africa region has a comparatively smaller market share in the veterinary/animal vaccines market due to the lack of healthcare facilities and awareness among consumers.
Industry News
May 2019 - The KEMRI-Wellcome Trust Research Programme announced their development of a vaccine suitable for both animals and humans.
May 2019 - Walmart opened 21 veterinary clinics in its stores, announced its aim to open 100 veterinary clinics in one year, and announced its plans to launch an online pet pharmacy.
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