Press release
What will be the growth of Animal Vaccines Market? Players evolve:Ceva Sante Animale, Dechra Pharmaceuticals, Durvet, Inc, Elanco, Henry Schein Animal Health, Hipra Animal Health Limited, Merck Animal Health, Neogen Corporation & Zoetis
Animal Vaccines Market
Animal Vaccines Market will exceed USD 9.0 billion by 2025.Technological advancement in animal vaccines include development of new vaccination methods such as nasal delivery, air-driven vaccine that penetrates through skin for cats to prevent cancer occurrence at the vaccine injection site. Growing disease burden and technological advancements will positively impact demand for animal vaccines, thereby driving industry growth during the forecast period.
Growing adoption of pets for companionship will drive animal vaccines industry growth. According to The European Pet Food Industry statistics, there were around 75 million pet owning homes in Europe in the year 2014. Moreover, increasing animal farming, growing pet adoption rate and safeguarding animal health will escalate demand for animal vaccines and augment market growth.
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Farm animal vaccines market share will reach USD 6,509.6 million by 2025. Farm animals have been gaining popularity, owning to rising awareness towards animal health coupled with increasing consumers demand for risk-free food. Moreover, higher demand for animal protein and increasing consumer concern over food safety will favor industry growth in the future.
Toxoid vaccines market will show significant growth of 4.8% CAGR during the projected timeframe, owing to high adoption rate. Increasing adoption rate is attributable to various technological advances that enhance efficacy and safety of toxoid vaccines. Large number of advantages associated with toxoid vaccines is major factor for segmental growth in the future.
Viral vaccines industry accounted for largest market value of USD 3,792.4 million in 2018. Growth is attributed to increasing number of viral infections that significantly hamper animal farming. Growing prevalence of viral infections such as Newcastle's disease and influenza will render positive impact on business growth during the forecast timeframe.
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Injection vaccines business will grow at 4.3% CAGR across the forecast timeframe. High growth is due to various advantages associated with injection vaccines such as improved and quick onset of immunity. Increasing pervasiveness of zoonotic diseases will significantly impact business growth during the forecast timeframe.
Japan animal vaccines market share will witness robust growth at 10.0% CAGR during the projected timeframe. Consumption of meat has been increasing rapidly, giving rise to growing need for animal farming in the country. Vaccination of food animals is a popular practice in Japan. Mandatory vaccination programs for poultry, swine and cattle will foster market growth in the future.
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Veterinary Vaccines Market, by Animal Type
o Farm animals
o Poultry vaccines
o Cattle vaccines
o Swine vaccines
o Equine vaccines
o Aquaculture vaccines
o Companion animals
o Dog vaccines
o Cat vaccines
Prominent industries involved in animal vaccines market share are: Boehringer Ingelheim Animal Health, Ceva Sante Animale, Dechra Pharmaceuticals, Durvet, Inc, Elanco, Henry Schein Animal Health, Hipra Animal Health Limited, Merck Animal Health, Neogen Corporation and Zoetis. These prominent business players are focusing on strategic mergers, acquisitions and new product launch to strengthen market position. For instance, in June 2016, Ceva Sante Animale acquired Biovac, manufacturer of autogenous vaccines. The acquisition will help Ceva to expand its vaccine portfolio which in turn will help in generating more revenue.
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