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Veterinary Vaccines market is projected to register a CAGR of 5.9%
The veterinary vaccines market is expected to reach USD 8.66 billion by 2022 from USD 6.50 billion in 2017, growing at a CAGR of 5.9% during the forecast period. Market growth can be attributed to factors such as growth in livestock population and repeated breakouts of livestock diseases; increasing adoption of companion animals; rising incidence of zoonotic diseases; initiatives by various government agencies, animal associations, and leading players; and the introduction of new types of vaccines in the market. On the other hand, the high storage cost for vaccines is expected to restrain the market to a certain extent.
The companion animal vaccines segment is expected to grow at the highest rate during the forecast period
On the basis of type, the veterinary vaccines market is segmented into porcine vaccines, poultry vaccines, livestock vaccines, companion animal vaccines, aquaculture vaccines, and other vaccines. The companion animal vaccines segment is divided into canine vaccines and feline vaccines and in terms of value, the companion animal vaccines segment is expected grow at the highest CAGR during the forecast period. Increasing awareness about companion animal vaccination, rising prevalence of zoonotic diseases in humans, and the growing number of pets and increasing pet ownership are fueling the demand for these vaccines.
The live attenuated vaccines segment is expected to account for the largest share of the market in 2017
By technology, the market is classified into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines and other vaccines. In terms of value, the live attenuated vaccines segment is expected to account for the largest share of the market in 2017. The ease of administration and longterm immunity offered by the live attenuated vaccine technologies are driving the demand for this segment in the veterinary vaccines industry.
Asia Pacific to provide significant growth opportunities during the forecast period
Geographically, Europe is the largest market for veterinary vaccines market, followed by North America but the APAC region is expected to witness the highest growth in the forecast period. This growth is primarily attributed to rising pet adoption, expansion of key vaccine players in the region, and the wide range of product launches and investments in veterinary vaccines manufacturing facilities in the region, especially in India, China, and Thailand.
Breakup profile of primaries:
By Company Type Tier 140%, Tier 235% and Tier 325%
By DesignationClevel33%, Dlevel41% and Others26%
By RegionNorth America35%, Europe30%, Asia21%, and RoW14%
The key players in the veterinary vaccines market are Zoetis US, Merck Animal Health US, Elanco US, Boehringer Ingelheim Germany, Ceva France, Phibro Animal Health US, and Virbac France.
The veterinary vaccines market in this report is segmented by type, disease, technology, and region. The study tracks and analyzes competitive developments such as product launches; expansions; agreements, partnerships, and collaborations; and acquisitions. It also profiles the key players and their core competencies within the veterinary vaccines market.
Reasons to buy this report:
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on portfolios offered by the top players in the global veterinary vaccines market. The report analyzes the veterinary vaccines market by type, disease, technology, and region.
Product Development/Innovation: Detailed insights on upcoming technologies, research development activities, and product launches in the veterinary vaccines market
Market Development: Comprehensive information about lucrative emerging markets the report analyzes the markets for veterinary vaccines across regions
Market Diversification: Exhaustive information about new products, untapped geographies, and recent developments in the global veterinary vaccines market
Competitive Assessment: Indepth assessment of, strategies, products, and manufacturing capabilities of the key players in the global veterinary vaccines market
Original Article: Veterinary/Animal Vaccines Market by Type Porcine, Poultry, Companion Animal, Aquaculture, Disease Porcine Parvovirus, Swine Pneumonia, Avian Influenza, Rabies, Clostridial Diseases, Technology Inactivated, Toxoid, Recombinant Global Forecast to 2022 [ReNEXT ARTICLE
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