Dublin, Sept. 03, 2024 (GLOBE NEWSWIRE) -- The "Rabies Veterinary Vaccines Market - Global Industry Size, Share, Trends, Opportunity & Forecast, 2019-2029F" report has been added to ResearchAndMarkets.com's offering.
Global Rabies Veterinary Vaccines Market was valued at USD 550.36 million in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 4.75% through 2029
The Global Rabies Veterinary Vaccines Market is a vital component of the broader animal healthcare industry, dedicated to preventing and controlling the transmission of rabies, a lethal viral disease that affects mammals, including humans. This market encompasses a range of vaccines specifically designed for veterinary use, aimed at immunizing domestic animals and wildlife against the rabies virus. The demand for rabies veterinary vaccines is fueled by the significant public health concern associated with rabies transmission from infected animals to humans, underscoring the importance of controlling the disease at its source.
Market growth is driven by various factors, including government mandates requiring rabies vaccination in pets and livestock, increasing awareness among pet owners and veterinary professionals, and the rising incidence of rabies cases globally. Additionally, the expanding pet population, particularly in urban areas, contributes to the growing demand for rabies vaccines. Manufacturers within this market focus on developing safe and effective vaccines, employing advanced biotechnological methods to enhance vaccine efficacy and duration of immunity.
Strategic collaborations between vaccine manufacturers and governmental or non-governmental organizations facilitate vaccine distribution in endemic regions and support vaccination campaigns targeting wildlife reservoirs of the rabies virus. The market also witnesses innovations such as oral rabies vaccines for wildlife, aimed at controlling the disease in reservoir species like raccoons, foxes, and bats, thereby reducing the risk of transmission to domestic animals and humans. Geographically, the dynamics of the market vary, with regions experiencing higher incidences of rabies driving substantial demand for veterinary vaccines.
Despite significant progress in rabies prevention through vaccination programs, challenges persist, including limited access to vaccines in remote or resource-constrained regions, vaccine storage and distribution logistics, and vaccine hesitancy among some animal owners. However, ongoing advancements in vaccine technology, coupled with concerted efforts from governments, international organizations, and veterinary healthcare providers, are expected to sustain the growth of the Global Rabies Veterinary Vaccines Market, ultimately contributing to the global elimination of rabies as a public health threat.
Technological Advancements in Vaccine Development
Technological advancements in vaccine development are playing a pivotal role in boosting the Global Rabies Veterinary Vaccines Market. As the veterinary healthcare industry embraces cutting-edge technologies, there has been a significant impact on the development of safer, more efficacious vaccines against rabies. These advancements have revolutionized vaccine design, production, and delivery, leading to improved outcomes in rabies prevention efforts worldwide.
One of the key advancements driving the Global Rabies Veterinary Vaccines Market is the use of recombinant DNA technology. This technology allows researchers to manipulate the genetic material of organisms, enabling the production of recombinant rabies antigens for vaccine formulation. Recombinant vaccines offer several advantages over traditional vaccines, including improved safety, reduced risk of adverse reactions, and increased stability. By leveraging recombinant DNA technology, manufacturers can develop vaccines with enhanced immunogenicity and efficacy, providing better protection against rabies infection in animals.
Rising Pet Ownership and Human-Animal Bond
The Global Rabies Veterinary Vaccines Market is experiencing a significant boost from the rising trend of pet ownership and the strengthening human-animal bond. As more people around the world welcome pets into their homes and lives, there is a corresponding increase in the demand for veterinary healthcare services, including rabies vaccination.
One of the primary factors driving the Global Rabies Veterinary Vaccines Market is the increasing number of pet owners who prioritize their animals' health and well-being. Pets are often considered cherished members of the family, and pet owners are willing to invest in preventive healthcare measures to ensure their pets lead healthy, happy lives. Rabies vaccination is a crucial aspect of preventive care, as it protects pets from a deadly viral disease and prevents transmission to humans.
The human-animal bond plays a significant role in boosting the demand for rabies veterinary vaccines. Research has shown that pet ownership has numerous physical, emotional, and social benefits for humans, including reduced stress, improved mood, and increased social interaction. The strong emotional connection between pet owners and their animals motivates pet owners to prioritize their pets' health and seek out preventive healthcare services, such as vaccination.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 183 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $550.36 Million |
| Forecasted Market Value (USD) by 2029 | $728.72 Million |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Report Scope:
Company Profiles
- Merck & Co., Inc. (MSD Animal Health)
- Indian Immunologicals Ltd.
- Boehringer Ingelheim International GmbH (Animal Health)
- Zoetis Inc
- Virbac S.A.
- BroadChem Philippines Biopharma Corporation
- Elanco Animal Health Inc.
- BiogenesisBago. S.A.
- Sanofi SA
- Ceva Sante Animale S.A.
Rabies Veterinary Vaccines Market, By Application:
- Companion Animals
- Livestock Animals
- Wildlife Animals
Rabies Veterinary Vaccines Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- United Kingdom
- Italy
- Germany
- Spain
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
For more information about this report visit https://www.researchandmarkets.com/r/114un
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
