Pune, India, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The livestock vaccines market size was USD 5.47 billion in 2022 and anticipated to surge USD 8.53 billion by 2030, exhibiting a CAGR of 5.8% over the study period. Vaccines are vital in safeguarding the well-being and health of farm animals. Given that these are of help in immunization against numerous diseases.
Fortune Business Insights provides this information in its research report, titled “Livestock Vaccines Market, 2023-2030”.
Request a Sample Copy of the Research Report:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/livestock-vaccines-market-101418
Key Industry Development:
March 2022 – Ceva rolled out a sow vaccine for the prevention of neonatal diarrhea. The vaccine was equipped with 7 antigens.
Key Takeaways:
- As per the March 2023 article released by the National Foundation for Infectious Diseases, around 5,000 cases of animal rabies are reported annually in the United States.
- In August 2020, a significant campaign was initiated by the European Food Safety Authority (EFSA) with the objective of increasing awareness and preventing the propagation of African swine fever in southeast Europe.
- In 2020, the European Commission granted its approval to Zoetis for CircoMax Myco, a vaccine designed for the active immunization of pigs against porcine circovirus type 2 (PCV2) and Mycoplasma hyopneumoniae.
- Regarding the animal types, the market is divided into bovine, porcine/swine, poultry, and other categories.
- In 2022, the North American market represented a total of USD 2.56 billion.
Discover the Leading Players Featured in the Report:
Boehringer Ingelheim International GmbH (Germany), Virbac (France), Merck Animal Health (Merck & Co., Inc.) (U.S.), Zoetis Services LLC (U.S.), Ceva (France), Elanco(U.S.), HIPRA(Spain), Neogen Corporation (U.S.)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 5.8% |
| 2030 Value Projection | USD 8.53 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 5.73 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 150 |
| Segments Covered | By Type, Animal Type, By Route of Administration, Distribution Channel, and Region |
Browse Complete Report Details:
https://www.fortunebusinessinsights.com/industry-reports/livestock-vaccines-market-101418
Segmentation:
Live Attenuated Segment Accounted for the Largest Share Owing to Soaring Product Demand in Developing Countries
On the basis of type, the market for livestock vaccines is segmented into live attenuated, inactivated, recombinant, and others. The live attenuated segment accounted for the largest market share in 2022. This can be credited to the increasing demand for the product in developing countries and an upsurge in disease outbreaks in farm animals.
Bovine Segment Held Key Market Share Due to Surging Bovine Population
By animal type, the market for livestock vaccines is fragmented into poultry, porcine/swine, bovine, and others. The bovine segment recorded a dominant share in the market in 2022 and is set to exhibit notable CAGR over the study period. The rise can be credited to the escalating bovine population across various regions and a subsequent surge in vaccine demand.
Parenteral Segment Led the Market Considering the Benefits of Versatility and Reliable Immune Response Induction
On the basis of route of administration, the market for livestock vaccines is subdivided into parenteral, oral, and others. The parenteral segment registered the largest market share in 2022. This was on the account of the numerous benefits offered by this route of administration. These comprise versatility, reliable immune response induction, and rapid onset of immunity, among others.
Veterinary Clinics Segment Recorded Prominent Share Owing to Rising Number of Veterinarians
Based on the distribution channel, the market is segmented into veterinary hospitals, veterinary clinics, and others. Of these, the veterinary clinics segment accounted for a key share in 2022. This was due to the increasing number of veterinarians and the large number of animal visits for seeking treatment at these settings.
Based on geography, the market for livestock vaccines has been studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
By Type
- Inactivated
- Live Attenuated
- Recombinant
- Others
By Animal Type
- Bovine
- Swine/ Porcine
- Poultry
- Others
By Route of Administration
- Oral
- Parenteral
- Others
By Distribution Channel
- Veterinary Hospitals
- Veterinary Clinics
- Others
By Geography
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Quick Buy –
https://www.fortunebusinessinsights.com/checkout-page/101418
Driving factor:
Rise in Market Value Driven by Growing Cases of Zoonotic Diseases
One of the major factors driving the livestock vaccines market growth is the escalating number of zoonotic disease cases. Besides, the rising awareness associated with animal health is further set to boost the industry expansion.
However, trust issues associated with the adverse effects and failures of vaccines may restrain the market growth to some extent.
Regional insights:
North America Dominated the Market in 2022 Driven by Extensive Adoption of Advanced Products
The North America market dominated the global livestock vaccines market share in 2022. The regional market is touted to exhibit considerable expansion over the projected period. This can be credited to the extensive adoption of advanced products for the prevention of numerous diseases.
The Asia Pacific market is set to record the highest CAGR over the estimated period. The surge is due to the increasing animal population and rising vaccination programs in the region.
Competitive Landscape
Leading Companies Have Been Introducing Innovative Vaccines
Major industry players include Zoetis Services LLC, Merck Animal Health (Merck & Co., Inc.), and Boehringer Ingelheim International GmbH. The market is dominated by these players owing to their expanded and high quality and progressive vaccine portfolio. The companies have been focusing on the introduction of innovative vaccines which is set to boost their market share.
FAQs
How big is the Livestock Vaccines Market?
Livestock Vaccines Market size is USD 5.73 billion in 2023.
How fast is the Livestock Vaccines Market growing?
The Livestock Vaccines Market will exhibit a CAGR of 5.8% during the forecast period, 2023-2030
Have Any Query? Ask Our Experts:
https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/livestock-vaccines-market-101418
Related Links:
Veterinary/Animal Vaccines Market Size, Share, Growth Industry Report.
Veterinary Therapeutics Market Share, Size, Demand, and Forecast.
Animal Health Market Size, Share, Growth Industry Report.
Veterinary Clostridium Vaccine Market Share, Size, Demand, and Forecast.
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
Pune - 411045, Maharashtra, India.
Phone:
US:+1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Attachment
