Veterinary Vaccines Market 2018 by Global Trends and Key Companies 2026 - Zoetis Inc. Merck Animal Health, Merial Inc., Boehringer Ingelheim, Bayer Animal Health, Elanco Animal Health, Ceva Animal Health

The Global Veterinary Vaccines Market was valued at US$ 5,688.7 million in 2015 and is projected to expand at a CAGR of 5.9% during the forecast period (2016–2024), as highlighted in a new report published by Coherent Market Insights. Rise in incidence of food-borne zoonotic diseases along with increase in population of livestock is expected to favor growth of the veterinary vaccines market. According to European food safety authority (EFSA), In the European Union (EU), over 320,000 fatalities are reported each year due to food-borne zoonotic diseases.

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Zoonoses are infections that directly infect humans or are indirectly transmitted to humans through animals by transmission of micro-organisms such as such as bacteria and their toxins, viruses and parasites. This can be caused due to consumption of contaminated food in contact with infected animals or contaminated meat products. Severity of such diseases varies from mild symptoms to life-threatening conditions. Most such micro-organisms are found in the intestines of healthy food-producing animals. The above concern is one of the major factors projected to propel growth of the market for veterinary vaccines over the forecast period. Furthermore, livestock animals serve as a major source of primary and secondary food products. Rise in population of livestock animals is expected to fuel demand for veterinary vaccines in the near future. Veterinary vaccines promotes better growth of animals. According to WHO, in 2015, children under five years of age accounted for one third of all deaths due to foodborne diseases.

High prevalence of zoonotic diseases due to various factors such as environmental changes, demographics related to human and animals, pathogen, and modifications in farming practice is major factor driving growth of the market. According to Maine Center for Disease Control & Prevention, in 2013, around 75% diseases of animal origin affecting humans were infectious diseases. Animals should to be treated according to the severity of diseases, as they are human companions and serve as a source of meat and dairy products. The specificity of the vaccines is responsible for increasing demand for the veterinary vaccines that can be used as prophylaxis. According to clinical microbiology paper published in 2007, veterinary vaccines comprise around 25% of the animal health products worldwide. Veterinary vaccines industry has witnessed significant traction, owing to various factors such as technological advancements in novel vaccine development methods, which is increasing adoption of the veterinary vaccines worldwide. Furthermore, drug resistance to existing pathogens and new diseases is propelling drug discoveries.

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According to the Journal of American Veterinary Medical Association (JAVMA) 2017, veterinary vaccines market witnessed several acquisitions and mergers in order to gain maximum market share. However, 85 to 95% of veterinary hospitals in the U.S. are owned independently. Mars Incorporated—a company involved in manufacturing of Petcare, Chocolate, Wrigley, Food and Drinks—acquired VCA Inc. – a pet health care services provider in the U.S. and Canada that delivers around 800 small veterinary hospitals – in total value of around US$ 9.1 billion.

Key takeaways of the market:

The live attenuated vaccines segment in the global veterinary vaccines market was estimated to be the largest in 2015 and is expected to dominate the market throughout the forecast period in terms of value. Rise in demand for white meat in North America and Europe is expected to fuel the market to high growth over the forecast period
In terms of animal type, the livestock type sub-segment is expected to expand at a significant CAGR of 5.6% during the forecast period owing to rise in population of livestock animal and the human dependency on the cattle for primary as well as secondary products
The global veterinary vaccines market is characterized by strategic research and development and advancements in the technology of vaccines production. Also, the rise in adoption for poultry business globally is expected to favor the market for veterinary vaccines market.

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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.