According to a report published by Grand View Research, Inc.; the veterinary/animal vaccines market is anticipated to reach a valuation of nearly USD 12.6 billion by 2025. Prevalence of livestock and zoonotic diseases and growth in livestock population can propel the market during the forecast period (2014 to 2025). In addition, high spending by government and private players on research and innovation is also expected to further boost the expansion.
Growing animal husbandry business and commercialization of animal products are the major growth drivers for the veterinary vaccines market. Rising number of pet owners and their awareness regarding healthy animal practices can positively influence the market. Improvements in formulations have encouraged the commercialization of modified products for easy administration through oral route.
Full Research Report On Veterinary/Animal Vaccines Market Analysis:
https://www.grandviewresearch.com/industry-analysis/veterinary-animal-vaccines-market
There is a steady rise in vaccination procedures of both domestic and wild animals due to improved administration. Rising awareness regarding commercially available vaccines is also anticipated to drive their adoption globally. All these factors are anticipated to impel the global market for animal vaccines market in the years to come. However, high costs required for storage of these vaccines is expected to challenge the market development to a certain extent.
The worldwide veterinary/animal vaccines market can be segmented on the basis of product, animal type, and regions. As per product, the market can be classified into inactivated, attenuated live, subunit, recombinant, and DNA vaccines. In 2016, the attenuated live vaccines segment accounted for the largest market share. It is the oldest vaccination technique in veterinary field. This technique is also under trial phase for the development of advanced applications. Some of these developments include development of protein subunit vaccines for swine. These products help to reduce death rate and expand the life span of disease-affected swine.
Based on animal type, the market can be split into companion animal, poultry, cattle, pig, and equine. In 2016, the cattle segment held the largest market share in terms of revenue. Rise in viral respiratory tract infections and other chronic infections like Infectious Bovine Rhinotracheitis (IBR) and Enzootic Bronchopneu are driving the growth. The companion animal segment is projected to display rapid growth during the forecast period. Increasing adoption of life threatening diseases like parvovirus, canine distemper, and other canine viral diseases are supporting segment growth.
View More Reports Of This Category By Grand View Research At:
https://www.grandviewresearch.com/industry/pharmaceuticals
Development of subunit and modified live attenuated vaccines that can be used for reproductive diseases in swine is leading to the growth of the swine segment over the forecast period. Constant research and development (R&D) activities for the development of novel vaccination solutions for pig diseases can further boost the expansion in near future. Geographically, the veterinary/animal vaccines market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
In 2016, North America held the largest market share and is expected to continue dominating the global market during the forecast period. Increasing number of pets and high cases of canine disorders are anticipated to impel the adoption of vaccination in the U.S. in near future. This is the major factors supporting the regional market growth.
Europe is the second largest regional market for veterinary/animal vaccines. Better animal husbandry practices, increasing manufacturing of veterinary products, and higher pet population are the factors supporting the regional market growth. In addition, collective efforts from governments and private organizations for providing better animal healthcare are projected to boost the adoption of these vaccines in the region.
Asia-Pacific is anticipated to grow swiftly during the forecast period. Increasing livestock population and government initiatives particularly in emerging countries are some of the major factors likely to boost the regional market growth.
Prominent players operating in the veterinary/animal vaccines market include Virbac Inc.; Boehringer Inghlem; Merck Animal Health; Biogenesis Bago.; and Heska Corp. Most companies are making significant investments in R&D activities. The market participants are also expected to adopt business strategies such as mergers and acquisitions (M&A) to expand their product range and to retain their global market share.
For instance, MSD Animal Health (recognized as Merck Animal Health in the U.S. and Canada) recently announced the launch of INNOVAX-ND-IBD. It is the live vaccine developed using biotechnology and can be used to provide protection against three infectious diseases in poultry, namely, Marek’s disease (MD), Infectious Bursal Disease (IBD), and Newcastle Disease (ND).
Explore the BI enabled intuitive market research database, The Grand Library, by Grand View Research, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
State: California
Country: United States
Website: www.grandviewresearch.com/industry-analysis/veterinary-animal-vaccines-market