Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Veterinary vaccines or animal vaccines play a crucial role in the development of animal health, animal welfare, food production and public health. They are cost-effective method to avert animal disease, enhance efficiency of food production, and reduce or prevent transmission of zoonotic & foodborne infections. Communicable disease remains one of the most important constraints for the efficient production of farm livestock worldwide. The use of drugs play an important role in animal disease control however, vaccination is progressively being viewed as the more sustainable option. The advent of recombinant DNA technology has created new prospects to produce vaccines based on expressed products of cloned genes. Though, only a few such vaccines have been efficaciously developed. In the superseding decade, there have been major developments in immunology, which would deliver a strong theoretical framework for the effective development of new vaccines. The global veterinary vaccines market has gained sustainable growth owing to increasing livestock population and repeated outbreaks of livestock diseases. The market is further boosted by technological advancements in veterinary vaccines and improving medical infrastructure worldwide.
Moreover, the market is expected to show robust growth during the forecast period due to surging initiatives by various government agencies, animal associations, and foremost players. However, the global veterinary vaccines market is hindered by high storage costs for vaccines and persistent economic slowdown in certain regions. The global veterinary vaccines market is estimated and forecasted in terms of revenue (USD million) generated by the global market. The report analyses the veterinary vaccines market based on vaccine type, technology and geography. Based on vaccine type, the global veterinary vaccines market is segmented into porcine vaccines, poultry vaccines, livestock vaccines (including bovine vaccines and small ruminant vaccines), companion animal vaccines (including canine vaccines and feline vaccines), aquaculture vaccines and other animal vaccines. Among all vaccine types, the porcine vaccines segment accounted for the largest share of the veterinary vaccines market in 2017. Also, the companion vaccines are expected to grow at the highest CAGR, owing to increasing awareness about companion animal vaccination and intensifying prevalence of zoonotic diseases in humans. Based on technology, this market is segmented into inactivated vaccines, toxoid vaccines, live attenuated vaccines, subunit and DNA vaccines and conjugated vaccines. In 2017, the live attenuated vaccines accounted for the largest market share. This growth is mainly attributed to comfort of administration and lasting immunity offered by the live attenuated vaccines. By geography, the global veterinary vaccines market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world. Europe is estimated to account for the largest market share in 2017, followed by North America and Asia Pacific. Factors such as growing pet adoption, expansion of key players in the region, a varied range of innovative product launches are fuelling the growth in Europe. In addition to this, the demand for veterinary vaccines is increasing in emerging markets such as China and India due to rising disposable income, improving healthcare standards and reforms in foreign policies.
The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. This high growth can be attributed to growing demand for livestock, investments in vaccine manufacturing facilities and favourable government initiatives. Some of the market players in the global veterinary vaccines include Bayer Healthcare, Biogenesis Bago S.A., Boehringer Ingelheim, Ceva Animal Health, Inc., Elanco, Heska Corporation, HIPRA, IDT Biologika GmbH, Merck Animal Health, Merial Inc., Phibro Animal Health, Virbac Inc. and Zoetis Inc. among others. Strategies such as expansions, as well as partnerships and agreements are implemented by numerous market players to expand their R&D competences and geographic presence in the global market.
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