Wilmington, Delaware, United States, Jan. 04, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The livestock vaccines market was valued at US$ 5.4 billion in 2022. A CAGR of 6.4% is projected from 2023 to 2031, reaching US$ 9.4 billion. A new generation of vaccines will probably be more effective and advanced as biotechnology, genomics, and vaccine delivery systems advance.
New vaccines with improved efficacy and safety profiles can be developed using molecular techniques and genetic engineering. With precision vaccination, vaccines are tailored to a specific strain of the pathogen, considering regional differences. Especially for pathogens that affect livestock globally, this approach could become more prevalent.
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Global Livestock Vaccines Market: Growth Drivers
- Growing populations and rising income levels increase the demand for animal protein products. Therefore, there is a greater need for vaccines to prevent diseases in livestock populations. Animal vaccines prevent and control infectious diseases that threaten livestock health and productivity. Animal producers and farmers are increasingly realizing the importance of vaccination as a preventative measure to ensure the well-being of their animals.
- Many governments through regulations and initiatives have controlled the spread of animal diseases. Vaccination programs are often included in these regulations, which increase the demand for livestock vaccines. Advances in biotechnology and new vaccine technologies make livestock vaccines safer and more effective. An improved vaccine formulation, delivery method, and adjuvant results in improved vaccine efficacy.
- Livestock trade has become more globalized, contributing to the spread of diseases across borders. The introduction and spread of diseases are increasingly prevented by vaccination strategies adopted by countries in order to safeguard their livestock industries. A growing awareness of the benefits of vaccinations has led farmers and livestock producers to adopt more vaccines to prevent disease outbreaks and enhance their animals' health.
Global Livestock Vaccines Market: Key Players
Livestock vaccine manufacturers are developing new products to expand their product lines. The companies also increase their market share by merging and acquiring, forming partnerships and joint ventures, and collaborating with other companies.
- Dechra Pharmaceuticals PLC
- Ceva Santé Animale
- Elanco
- Merck & Co. Inc.
- Zoetis Services LLC
- Boehringer Ingelheim International GmbH.
- Virbac
- Biogénesis Bagó
- Ourofino Saúde Animal
- VETAL Animal Health Products Inc.
- Other Prominent Players
Key Findings of the Market Report
- North America is expected to maintain its dominance through 2024.
- Rising poultry sales are expected to drive demand for poultry vaccines in the market.
- Based on technology, live attenuated vaccines are expected to create a market for livestock vaccines in the market.
- Oral vaccines are expected to see a significant market over the years.
- In terms of end users, veterinary hospitals are expected to create demand in the future.
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Global Livestock Vaccines Market: Regional Landscape
- North America is predicted to drive demand for livestock vaccines in the market. Vaccination programs have become increasingly popular among North American livestock producers to prevent and control infectious diseases. Keeping the livestock healthy and productive is crucial for ensuring their long-term health and productivity.
- The Canadian Food Inspection Agency (CFIA) and the United States Department of Agriculture (USDA) regulate and promote animal welfare in North America. In addition to government initiatives supporting vaccination campaigns, certain regulations may stipulate that livestock be vaccinated against certain diseases.
- There has been a strong emphasis on vaccinating livestock against zoonotic diseases, which are diseases transmitted between animals and humans. Among the key strategies for reducing the risk of zoonotic transmission is preventing the spread of diseases in animals. Vaccine development is advancing at an accelerated pace in North America, which has advanced biotech and pharmaceutical industries. The development of safer and more effective livestock vaccines is part of this.
- Farming practices and animal husbandry practices within the livestock industry affect vaccine demand. Production practices that prioritize animal welfare and health are more likely to incorporate vaccinations. Vaccines for livestock in North America are a competitive market, with pharmaceutical companies constantly developing and improving vaccines in order to remain competitive. Because of competition, various vaccines can be developed that target a wide range of diseases.
Global Livestock Vaccines Market: Segmentation
By Vaccine Type
- Bovine Vaccine
- Poultry Vaccine
- Porcine Vaccine
- Others
By Technology
- Live Attenuated Vaccine
- Inactivated Vaccine
- Recombinant Vaccine
- Others
By Route of Administration
- Oral
- Parenteral
- Others
By End User
- Veterinary Hospitals
- Veterinary Clinics
- Others
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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