Vancouver, British Columbia, Feb. 10, 2021 (GLOBE NEWSWIRE) -- The global veterinary vaccines market is projected to reach value of USD 12.75 Billion by 2027 growing at a CAGR of 6.9%, according to a current analysis by Emergen Research. During the forecast period, the global market for veterinary vaccines is expected to expand significantly, due to the increasing demand for animal products that are safe for human consumption. Besides, the increasing trend of companion animal adoption is anticipated to propel the veterinary vaccines market further during the forecast period.
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Moreover, rising application of veterinary vaccines for secure and efficient processing of food is anticipated to boost the global veterinary vaccines market in the near future. In livestock and poultry, veterinary vaccines are used to improve animal health and increase total production. In order to increase food production, more productive livestock processing and improved access to high-quality protein are required.
The lower research and development spending on veterinary vaccines is anticipated to hamper the global veterinary vaccines market to a certain extent during the forecast period.
Top Companies Profiled in Veterinary Vaccines Market Report are:
Zoetis Inc., Bayer AG, Virbac SA, Merck KGaA, Eli Lilly and Company, Phibro Animal Health Corporation, Elanco Animal Health Incorporated, Aptimmune Biologics Inc., Inc., Dechra Pharmaceuticals PLC, and Laboratorios HIPRA, S.A.
Key Highlights of Report
- In May 2018, Abaxis, Inc. was acquired by Zoetis Inc. With this move, Zoetis would be capable to provide comprehensive solutions to its veterinary customers to foresee, avoid, diagnose, and treat diseases in animals.
- During the forecast period, the dog segment is expected to experience growth at the most rapid pace. Increasing dog population and a rise in the mortality risk of rabies will result in a greater level of vaccination services, which would promote routine dog vaccinations. This, in turn, is likely to boost the dog segment in the near future.
- During the forecast period, the oral segment is expected to experience substantial growth, at a CAGR of 6.9%. Improving the immunity of farm animals is the key objective of oral vaccines. Increasing demand for poultry products and high-quality meat is likely to boost the oral segment during the forecast period.
- The toxoid segment is likely to expand significantly during the forecast period, due to advantages of toxoid vaccines, such as the low risk of infectiousness, less resistance to variability in moisture, and better stabilization.
- The parasitic segment is likely to experience substantial growth during the forecast period. Vaccines against zoonosis and foodborne parasites are critical for improved food production, which is projected to boost the segment in the next few years.
- The market in Asia Pacific is anticipated to witness the most rapid growth during the forecast period, rise in livestock numbers, particularly in developing nations in the region.
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Emergen Research has segmented the global veterinary vaccines market in terms of type, administration path, technology, infection, and region.
- Type Outlook (Revenue, USD Billion; 2017–2027)
- Poultry
- Swine
- Aquaculture
- Cattle
- Cat
- Dog
- Administration Path Outlook (Revenue, USD Billion; 2017–2027)
- Oral
- Injection
- Spray/Immersion
- Technology Outlook (Revenue, USD Billion; 2017–2027)
- Inactivated
- Live Attenuated
- Recombinant
- Toxoid
- Infection Outlook (Revenue, USD Billion; 2017–2027)
- Fungal
- Bacterial
- Parasitic
- Viral
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- Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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