Pune India, Dec. 28, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the veterinary vaccines market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the veterinary vaccines market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the technology, type, distribution channel and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. The significant players operating in the global veterinary vaccines market are Ceva, Zoetis Inc., Merck & Co. Inc., Eli Lily and Company, Aratana Therapeutics Inc., Karyopharm Therapeutics, Morphogenesis, Inc., Virbac, Biogenesis Bago, MSD Animal Health, Elanco, Hester Biosciences Limited, Boehringer Ingelheim International GmbH, NEOGEN CORPORATION, Torigen, HIPRA, Phibro Animal Health, China Animal Husbandry, Tianjin Ringpu, Vetoquinol, Brilliant Bio Pharma Private Limited among others. To achieve a substantial market share in the worldwide veterinary vaccines market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A veterinarian's vaccine provides effective protection against diseases in animals, is generally safe and effective, and causes few severe side effects. By improving animal health conditions, vaccines improve animals' immunity, which prevents diseases from being passed from one to another. Moreover, Pet owners becoming more concerned about their pets' health leads to an increase in the veterinary vaccines market. All vaccinations necessary for boosting pets' immunity are administered at pet care centers. Veterinarian vaccines face the greatest challenge due to their high costs. In order to avoid the high cost of vaccines, many owners don't immunize or vaccinate their animals on time, resulting in many health problems for the animals, as well as low production of animal-derived products. Veterinary vaccinations ensure the health and productivity of livestock farms by increasing their numbers. Additionally, livestock diseases negatively impact human health, resulting in food insecurity, revenue loss, and productivity loss. Veterinary animal vaccines address all of these issues. The forecast period will continue to offer growth prospects for veterinary vaccine manufacturers and suppliers since billions of dollars are spent on pharmaceuticals and vaccines every year. Along with the increase in cattle and poultry in developing countries, the development of healthcare technology will increase the growth rate of the market for veterinary vaccines in the future.
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Scope of Veterinary Vaccines Market Report:
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Technology, Type, Distribution Channel and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Ceva, Zoetis Inc., Merck & Co. Inc., Eli Lily and Company, Aratana Therapeutics Inc., Karyopharm Therapeutics, Morphogenesis, Inc., Virbac, Biogenesis Bago, MSD Animal Health, Elanco, Hester Biosciences Limited, Boehringer Ingelheim International GmbH, NEOGEN CORPORATION, Torigen, HIPRA, Phibro Animal Health, China Animal Husbandry, Tianjin Ringpu, Vetoquinol, Brilliant Bio Pharma Private Limited among others. |
Segmentation Analysis
The attenuated live vaccines segment is expected to be the fastest-growing segment in 2021.
The technology segment includes toxoid vaccines, attenuated live vaccines, recombinant vaccines, inactivated vaccines and others. The attenuated live vaccines segment is expected to witness the highest growth rate during the forecast period. A variety of immune responses are activated by attenuated vaccines, unlike other vaccines. The veterinary vaccines market has benefitted from the use of attenuated vaccines because they require fewer booster shots and provide rapid immunity onset.
Livestock vaccines are expected to be the fastest-growing segment in 2021.
The type segment includes aquaculture vaccines, porcine vaccines, livestock vaccines, and others. The livestock vaccines segment is expected to witness the highest growth rate during the forecast period. Livestock animals are the primary and secondary source of food for humans, so farmers take care of their health by using healthcare products like livestock vaccines, which stimulate the growth of veterinary vaccines.
Veterinary clinics are expected to be the fastest-growing segment in 2021.
The distribution channel segment includes veterinary clinics, veterinary hospitals, pharmacies and others. The veterinary clinics segment is expected to witness the highest growth rate during the forecast period. In veterinary clinics, vaccination is a quick and easy process, which makes it more popular than other distribution channels since it takes very little time to vaccinate animals and birds.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for veterinary vaccines include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. The market for veterinary vaccines in the region has experienced tremendous growth due to several factors, including livestock and zoonotic illnesses that contribute to large-scale animal deaths. As well as this, the market is predicted to grow as well-established pharmaceutical companies seek to expand their geographic reach and commercialize their vaccines, which is expected to boost market growth.
Country Analysis
- Germany
Germany's veterinary vaccines market size was valued at USD 0.62 billion in 2021 and is expected to reach USD 1.05 billion by 2029, at a CAGR of 6.9% from 2022 to 2029.
In addition to livestock and zoonotic illnesses in large numbers, the veterinary vaccines market is also fueled by large-scale animal deaths resulting from these ailments.
- China
China’s veterinary vaccines market size was valued at USD 0.61 billion in 2021 and is expected to reach USD 1.02 billion by 2029, at a CAGR of 6.7% from 2022 to 2029.
With rising disposable incomes in the region, increased awareness of preventive animal healthcare will boost the market in the country.
- India
India's veterinary vaccines market size was valued at USD 0.40 billion in 2021 and is expected to reach USD 0.67 billion by 2029, at a CAGR of 6.8% from 2022 to 2029. Growing awareness about animal health and government initiatives promoting proper and timely vaccinations of animals drive market growth for veterinary vaccines in the country.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing awareness about animal health and its treatments across countries.
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