Sarasota, FL, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Veterinary Vaccine Market by Application (Livestock Vaccines and Companion Vaccines), by Technology Types (Attenuated Vaccines, DNA Vaccines, Inactivated Vaccines, Toxoid Vaccines and Recombinant Vaccines) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015-2021”. According to the report, the global veterinary vaccines market accounted for around USD 12.10 billion in 2015 and is expected to reach approximately USD 20.60 billion by 2021, growing at a CAGR of around 9.3% between 2016 and 2021.
Vaccination is one of the most used applications of modern biotechnology to prevent chronic bacterial, viral and protozoal diseases. Veterinary vaccines are eco-friendly and used to increase animal welfare by preventing the death of animals, loss of dairy products and monetary loss of owners. Recently highly effective third generation vaccine against rabies virus has been developed with the help of recombinant technology. With the use of the vaccine, we can avoid the problem of antibiotic and drug resistance by the microorganism.
Browse through 10 Tables & 39 Figures spread over 110 Pages and in-depth TOC on "Global Veterinary Vaccine Market (Poultry, Animal) Size & Forecast, 2015-2021”.
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Major factors responsible for the growth of veterinary vaccines market include increasing pet ownership, increasing awareness for food security and increasing investment by various government agencies. Increased veterinary research institutions and colleges are also adding value to veterinary vaccines market. However, rising maintenance cost of vaccine storage and prevalence of chronic disease of animals with continuous economic slowdown are hindering the growth of the market. Increasing demand for milk, eggs, meat & animal protein and investment by the government would represent the massive opportunity in future.
On the basis of product type, the market for veterinary vaccines is bifurcated into livestock vaccines and companion vaccines. Livestock vaccines account the larger market share of more than 62% and companion vaccines accounts for around 38% share of global veterinary vaccine market. Livestock vaccines segment is classified into poultry, porcine and aquaculture vaccine type. The porcine vaccine is largest sub-segment with more than 30% share of global livestock market and it is expected to remain dominant during the forecast period. Companion vaccine is segmented into equine, canine and feline. Among these three segments, canine segments are the fastest growing segment with approximately 6% growth rate.
Browse the full "Veterinary Vaccine Market by Application (Livestock Vaccines and Companion Vaccines), by Technology Types (Attenuated Vaccines, DNA Vaccines, Inactivated Vaccines, Toxoid Vaccines and Recombinant Vaccines) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/veterinary-vaccine-market
On the basis of technology type, the veterinary vaccines market is classified as attenuated vaccines, DNA Vaccines, inactivated vaccines, toxoid vaccines and recombinant vaccines. With noticeable share, DNA, and attenuated vaccine segments were accounted highest growth for veterinary vaccine market in 2015.
Globally, North America and Europe dominated the veterinary vaccines market and these two regions are collectively contributing the market by more than 68% share. The U.S. represents the largest market for veterinary vaccines with nearly 38% share in North America due to rising animal welfare and emerging technology for vaccine production. As a result of increasing research activities on animal diseases in Canada, it is expected to lead the market during the forecast period with high market share.
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The veterinary vaccines market of Asia Pacific region is expected to witness noticeable growth in the forecast period. In 2015, India was the dominated market of veterinary vaccines followed by China. In India, the market is driven by emerging technologies for protein biochemistry, molecular biology, and immunology as well as increasing demand for livestock vaccines and poultry vaccines. In 2015, livestock vaccine was leading segment in Indian veterinary vaccine market with approximately 57% share while poultry vaccine segment represented around 37% share of the market.
In Latin America, veterinary vaccines market is dominated by Brazil due to rising focus on food-producing animals and rising consumption of meat and it has made a significant contribution to agricultural GDP.
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Key operating players for the veterinary vaccines market are Heska Corporation, Zoetis Inc., Ceva Santé Animale Inc., Merck Animal Health, Sanofi (Merial Animal Health), Boehringer Ingelheim GmbH, Eli Lilly and Company (Elanco Animal Health), Virbac, Bayer AG, and Bimeda.
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This report segments the Global Veterinary Vaccine Market as follows:
Veterinary Vaccines Market: Product Segment Analysis
Veterinary Vaccines Market: Technology Segment Analysis
Veterinary Vaccines Market: Geography Segment Analysis
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