Growing Prevalence of Infectious Animal Diseases Fuels Demand for Veterinary Vaccines Worldwide
24 Oct 2023
Vaccine
DUBLIN, Oct. 24, 2023 /PRNewswire/ -- The "Veterinary Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to
ResearchAndMarkets.com's offering.
The global veterinary vaccines market, with a market size of US$12.4 billion in 2022, is poised for significant growth, with an anticipated market size of US$21.5 billion by 2028. This growth is expected to be characterized by a robust compound annual growth rate (CAGR) of 9.3% during the forecast period spanning from 2023 to 2028.
Market Overview:
Veterinary vaccines are bio-prepared immunizations administered to domestic and wild animals through parenteral and oral routes to stimulate protective immune responses without causing the diseases themselves. These vaccines play a crucial role in reducing animal suffering, enhancing immune efficiency, and preventing the development and transmission of various contagious zoonotic diseases. They are cost-effective, reliable, and offer long-term prevention, making them essential for both companion and livestock animals worldwide.
Market Trends and Drivers:
Several key factors are driving the growth of the global veterinary vaccines market:
Rising Demand for Effective Immunization: Increasing demand for effective immunization products, especially with the domestication of companion and livestock animals, is a key driver.
Prevalence of Infectious Epizootic Disorders: The rising prevalence of infectious epizootic disorders is leading to greater demand for vaccines to protect animal health.
Government Investments: Governments are investing significantly in the pharmaceutical sector to enhance veterinary vaccine manufacturing procedures.
Innovation in Vaccine Technology: The introduction of DNA and RNA vaccines with improved stability, efficacy, and administration approaches is contributing to market growth.
Needle-Free Vaccine Injections: Innovative intramuscular needle-free vaccine injections are gaining popularity due to their enhanced safety and less painful administration.
Protection of Livestock-Based Products: Veterinary vaccines are needed to prevent disease transmission from livestock-based products like milk, meat, and eggs.
Healthcare Infrastructure Improvement: Improvements in healthcare infrastructure and ongoing R&D activities are fueling market growth.
Market Segmentation:
The veterinary vaccines market is segmented based on various factors:
By Vaccine Type:
Livestock Vaccines
Bovine Vaccines
Poultry Vaccines
Porcine Vaccines
Others
Companion Animal Vaccines
Canine Vaccines
Feline Vaccines
Equine Vaccines
By Technology:
Attenuated Live Vaccines
Inactivated Vaccines
Toxoid Vaccines
Recombinant Vaccines
Others
By Route of Administration:
Subcutaneous
Intramuscular
Intranasal
By Distribution Channel:
Veterinary Hospitals
Veterinary Clinics
Pharmacies and Drug Stores
Others
By Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
Key players in the global veterinary vaccines market include Boehringer Ingelheim International GmbH, Ceva Sante Animale, Elanco Animal Health Incorporated, Hester Biosciences Limited, HIPRA, Indian Immunologicals Limited, Merck & Co. Inc., Neogen Corporation, Phibro Animal Health Corporation, Virbac SA, Zoetis Inc., and others.
For more information about this report visit https://www.researchandmarkets.com/r/1makbk
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