NEWARK, Del, Nov. 10, 2023 (GLOBE NEWSWIRE) -- The Middle East veterinary vaccine market size is poised to cross US$ 627.1 billion in 2023 and is likely to attain a valuation of US$ 973.8 billion by 2033. The Middle East veterinary vaccine market is projected to rise at a CAGR of 4% from 2023 to 2033.
Camels are culturally and economically significant in the Middle East, especially in activities such as camel racing. As a result, there is a growing demand for vaccinations designed specifically for camel health and performance. Companies that can create specific camel vaccinations acquire a significant advantage in this unique industry. These vaccinations may target certain diseases or problems that afflict camels, ensuring their health and performance, especially in racing events. Understanding the specific needs of this sector segment and providing effective solutions are critical to success in the camel vaccine market.
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Middle Eastern nations' collaborative disease control programs generate demand for vaccines that meet regional disease management and trade standards. To encourage regional cooperation and commerce, businesses participating in vaccine production and delivery have to match their products with these criteria. Vaccines must be customized to the unique disease threats that animals in the Middle East confront. Companies that can supply solutions in accordance with regional efforts strengthen their market position and help to harmonize animal health practices throughout the region.
"In the ever-changing and expanding Middle East veterinary vaccine market, innovation, and specialized vaccine technologies are occupying the spotlight as pivotal drivers reshaping the industry's trajectory. Vaccination programs have undergone significant developments and are no longer limited to their traditional duty of protecting animal health. Creative solutions characterize the confluence of local choices, healthcare demands, and global trends in the industry,” says an Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Key Takeaways from the Middle East Veterinary Vaccine Market Report
- In 2018, the market stood at US$ 510.8 billion
- In 2022, the market stood at US$ 627.1 billion.
- The livestock animal segment captured 74.40% of the market share in 2023.
- The attenuated live vaccines technology segment occupied 34.20% of the market share in 2023.
- The market size in the KSA is expected to rise at a 4.9% CAGR through 2033.
- The market size in the UAE is projected to surge at a 5.1% CAGR through 2033.
- The market size in Iran is expected to rise at a 4.3% CAGR through 2033.
- The market size in Israel is estimated to develop at a 4.0% CAGR through 2033.
- The market size in Egypt is projected to increase at a 5.3% CAGR through 2033.
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Recent Developments in the Middle East Veterinary Vaccine Market:
- The Africa Centre for Disease Control and Prevention (Africa CDC) formally handed over equipment worth USD 750,000 to the South African Health Products Regulatory Authority (SAHPRA) in August 2023 to support its regulatory tasks, notably those related to vaccine production.
- Bill Gates, Co-Chair of the Bill & Melinda Gates Foundation, announced additional funding to increase access to mRNA research and vaccine manufacturing technologies during the 2023 Grand Challenges Annual Meeting in October 2023. This will help low- and middle-income countries (LMICs) create high-quality, life-saving vaccinations on a broad scale. The decision builds on the foundation's more than 20 years of expertise working with vaccine makers in low- and middle-income countries, as well as the opportunity to harness contemporary scientific findings to develop low-cost, high-quality health aids that reach more people throughout the world.
Top 11 Key Players in the Middle East Veterinary Vaccine Market:
- JOVAC
- Bioveta, Inc.
- Intervac Pvt. Ltd.
- Zoetis
- Elanco
- Merial
- Merck & Co. Inc.
- Bayer Pharma AG
- Ceva
- Boehringer Ingelheim
- MSD Animal Healths
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Middle East Veterinary Vaccine Market Segmentation:
By Vaccine:
- Attenuated Live Vaccines
- Inactivated Vaccines
- Toxoid Vaccines
- DNA Vaccines
- Recombinant Vaccines
- Others
By Animal:
- Companion Animals
- Canine
- Avian
- Feline
- Livestock Animals
- Aquatic
- Bovine
- Porcine
- Small Ruminant
- Poultry
- Equine
By Disease Indication:
- Foot and Mouth Disease
- Newcastle Disease
- PPRS
- Canine Parvovirus
- Brucellosis
- Avian Influenza
- Others
By End User:
- Hospital Pharmacies
- Veterinary Clinics
- Private Veterinary Pharmacies
- Others
By Country:
- UAE
- KSA
- Turkey
- Jordan
- Sudan
- Egypt
- Rest of MEA
Authors
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise slies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News
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