Animal Vaccines Market Projected to Attain $12.8 Bn at 5.9% CAGR by 2025, Says AMR

Rise in the adoption of companion animals and the growing prevalence of animal diseases propel the growth of the global animal vaccines market


Portland, OR, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, "Animal Vaccines Market by Product Type (Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, Recombinant Vaccines, and DNA Vaccines) and Animal Type (Companion animals, Cattle, Fish, Pigs, Poultry, and Sheep]: Global Opportunity Analysis and Industry Forecast, 2020- 2025". According to the report, the global animal vaccines market generated $8.1 billion in 2017 and is expected to garner $12.8 billion by 2025, growing at a CAGR of 5.9% during the forecast period, 2020-2025.

Surge in prevalence of animal diseases, growth in ownership of companion animal, rise in demand for pet insurance, and increase in animal health expenditure drive the growth of the global animal vaccines market. However, highly competitive meat & milk prices and unfavorable impact of veterinary vaccines on animal & human health hamper market growth. Nonetheless, rapid advancement in vaccine products and increased demand for hybrid animals worldwide is set to would provide lucrative opportunities to emerging market players in the near future.

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Driving factors and opportunities in various regions would be helpful in determining strategies for expansion. Market size and estimations are presented in tabular and graphical formats for better understanding for users and gain valuable information for taking further steps. Competitive landscape is discussed for leading market players.  

DNA vaccines segment to encounter the fastest growth rate through 2025

By product type, the DNA vaccines segment is projected to grow at the highest CAGR of 7.8% during the forecast period, owing to their cost-effective nature, easy development and production, negligible risk of infection, and long term persistence of immunogenicity. However, the attenuated vaccines segment is expected to continue its dominance and occupy one-third of the global market share by 2025, due to their ability to provide stronger immunity as compared to other vaccines and reducing the need for booster vaccines later on.

Cattle segment to dominate the global market in the near future

By animal type, the cattle segment is anticipated to generate more than one-third of the global revenue by 2025, on account of increased meat & milk consumption and surge in demand for dairy products. However, the companion animal segment is expected to be the fastest growing segment from 2017 to 2025, with a CAGR of 6.4%, due to an increase in their adoption rate and rise in awareness regarding the importance of vaccines for dogs and cats.

North America to contribute the largest revenue throughout the forecast period

North America occupied almost one-third of global market revenue in 2017 and is expected to continue its dominance through 2025. The region has a high adoption rate of companion animals and has witnessed a surge in meat & milk consumption. However, Asia-Pacific is projected to register the highest CAGR of 6.5% during the forecast period, due to the rise in pet ownership and increased incidence of various zoonotic diseases.

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Key market players

The key players analyzed in the report include Merck & Co., Inc., Zoetis Inc., CevaSantAnimale, Sanofi S.A., Romvac, Vaxxinova, Biovac, Merial, and Anicon Labor GmbH. They have adopted different strategies including collaborations, joint ventures, partnerships, expansions, mergers & acquisitions, and others to gain a strong position in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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