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Animal Vaccines Market - Global Industry Analysis, Share, Growth and Demand Forecast to 2023
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Based on technology, the market is segmented into live attenuated vaccines, subunit vaccines, in-activated vaccines, toxoid vaccines, recombinant vaccines, conjugate vaccines and DNA vaccines. DNA vaccine is the fastest growing technology in global animal vaccines market. This is due to factors such as thermo-stability, easy production, cost effectiveness and rapid development against emerging diseases. The animal diseases segment covers rabies, foot and mouth disease, avian influenza, gumboro disease and strangles.
Europe dominates the global animal vaccines market followed by North America. Germany, France and the U.K. are some of the largest markets for animal vaccines in Europe. The U.S., followed by Canada, is the largest market for animal vaccines in North America. The key driving factor for animal vaccines market in these regions is increasing research activities on various types of animal diseases. In addition, increased awareness about animal health also has a strong positive impact on the growth of animal vaccines market in Europe and North America. However, Asia-Pacific represents the fastest growing region in the global animal vaccines market. This is due to minimal wages and availability of skilled professionals in the region. These factors attract vaccines manufacturing companies to invest in the Asian countries. In addition, increasing awareness about animal health also boosts the growth of animal vaccines market in the region. China, Japan and India are the largest animal vaccines markets in the region.
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Some of the major competitors in the market include Pfizer, Sanofi-Aventis, Bayer HealthCare, Novartis, Boehringer Ingelheim, Ceva, Heska Corporation, Bioniche Animal Health Canada Inc. and Virbac.
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