Rockville , March 19, 2024 (GLOBE NEWSWIRE) -- Importance is being given to vaccinate animals as much as humans in today’s world. Fact.MR, a market research and competitive intelligence provider, in its recently updated report, reveals that the global animal vaccine market is approximated at US$ 15.62 billion in 2024 and is projected to reach US$ 37.42 billion by 2034.
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Animal vaccines help immunize animals of various kinds for healthy growth. Rapidly growing livestock production across the globe is primarily boosting the consumption of animal vaccines. Rising prevalence of zoonotic and other infectious disease is leading to the development of advanced animal vaccines. Contagious diseases such as zoonotic are easily transmitted to humans, which are necessitating the need for effective veterinary vaccines.
| Report Attribute | Details |
| Value Projection (2034) | US$ 37.42 Billion |
| Growth Rate (2024-2034) | 9.1 % CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 72 Tables |
| No. of Figures | 148 Figures |
Leading manufacturers of animal vaccines are focusing on the development of next-gen immune solutions such as gene-deleted marker vaccines, recombinant modified live virus vaccines, virus-like particle vaccines, and more. These technological advancements in the field of veterinary science are contributing to the overall market growth.
Companion animals are becoming major parts of families, the rising adoption of pets is boosting the demand for companion animal vaccines across the globe.
- According to the Forbes Pet Adoption Statistics 2024 article, youngsters are majorly contributing to the pet culture and around 33% of pet ownership are millennials.
- It also states that around 70% of Americans owns pets.
Related Market Projections for 2034
| Flu Vaccine Market | US$ 11.18 Billion |
| Commercial Aquaculture Vaccine Market | US$ 584.3 Million |
| Autogenous Vaccine for Aquaculture Market | US$ 23.7 Million |
| Autogenous Vaccine Market | US$ 246.8 Million |
Key Takeaways from Market Study
- The global animal vaccine market is foreseen to rise at a CAGR of 9.1% from 2024 to 2034.
- The United States market is anticipated to reach US$ 12.86 billion by 2034.
- India is projected to hold 66.1% of the South Asia & Pacific market share by 2034.
- Sales of animal vaccines in South Korea are projected to expand at a CAGR of 10.7% over the decade.
- Livestock animal vaccine demand is estimated at a market value of US$ 10.23 billion in 2024.
“Growing prevalence of rabies and increasing number of pets across the globe creating ample opportunities for animal vaccine manufacturers,” says a Fact.MR analyst.
Key Companies Profiled in This Report
- Merck & Co. Inc.
- Virbac
- Biogenesis Bago
- Indian Immunologicals Ltd.
- CEVA Animal Health (Pty) Ltd.
- Phibro Animal Health Corporation
- Zoetis Inc.
- NEOGEN Corporation
- Boehringer Ingelheim International GmbH
- Elanco Animal Health Incorporated
Winning Strategy
The industry is characterised by the presence of both established as well as new market players. The prominent manufacturers of animal vaccines are majorly focusing on expanding their product folios through differentiation, mergers, and collaborations. New companies are investing in R&D to introduce animal vaccines with effective properties.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global animal vaccine market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on product (attenuated live, recombinant, DNA, inactivated, subunit), animal type (livestock animal vaccines, companion animal vaccines), and route of administration (subcutaneous administration, intranasal administration, intramuscular administration), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).
Explore More Related Studies Published by Fact.MR Research:
Autogenous Vaccine Market: Sales of autogenous vaccines are projected to reach US$ 246.8 million by the end of 2034.
Autogenous Vaccine for Aquaculture Market: The global autogenous vaccine for aquaculture market is estimated at a valuation of US$ 14.1 million in 2024 and is forecasted to increase at a 5.3% CAGR to reach US$ 23.7 million by the end of 2034.
Commercial Aquaculture Vaccine Market: Global commercial aquaculture vaccine demand is forecasted to reach a valuation of US$ 584.3 million by 2034-end.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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