Veterinary Vaccines Market 2019 Growth Insight, New Innovation and Forecast To 2024 | Merial Inc. , Boehringer Ingelheim , Bayer Animal Health, Elanco Animal Health so on.

The global veterinary vaccines market was valued at US$ 5,688.7 million in 2015 and is expected to witness a moderate CAGR of 5.9% during the forecast period (2016 – 2024).

Rapid increase in population of companion animals and livestock animals globally is one of the major factors expected to favor market growth for veterinary vaccines. Rise in awareness about the vaccination programs are further favoring growth of the global veterinary vaccines market. The market is estimated to witness considerable revenue traction over the forecast period, due to increasing incidence of food-borne zoonotic diseases worldwide. Also, rise in demand for white meat in the North American and European countries is in turn expected to support growth of the veterinary vaccines market in the near future.

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According to the PoultrySite - Poultry News, Health, Welfare, Diseases, Markets and Economics, in 2013, there was a significant rise in demand for white meat in Italy since a decade, with demand for turkey, chicken and eggs increased by 8.5%, while production of poultry increased by 16%.

Increasing incidence of veterinary diseases to drive the growth of veterinary vaccines market

According to the 2015 Global Animal Disease Intelligence Report by the Food and Agriculture Organization (FAO), prevalence of foot-and-mouth disease (FMD) was especially high in Morocco, Saudi Arabia, Turkey, Northern, and Southern Africa. Ebola (Zoonotic disease) continued to be prevalent in West Africa. Also, rabies that leads to thousands of human deaths worldwide is prevalent in 150 countries according to the WHO, with highest number of related deaths reported in Asia and Africa. Thus, these regions are amongst the largest target regions for veterinary vaccines market. Incidence rate of rabies has reduce drastically in Latin America and Caribbean regions due to successful implementation dog rabies control programs.

Growing pet adoption and livestock animals to improve the veterinary vaccines market outlook

As per 2016 Pet Secure (a pet rescue organization in Australia) estimates, dog population is highest in the U.S. at 69,929,000. Pet owners in the country spend over US$ 50 billion on maintenance of their pets. However, pet adoption in Asia Pacific and Latin America regions is increasing rapidly according to the Pet Asia Fair in 2016, resulting in increase in demand for vaccines in these regions. China, Russia and Brazil are leading countries in terms of cat and dog population as per the 2016 estimates of Pet Secure. Also, the organization mentions that the population of dogs in Switzerland is shrinking while increasing rapidly in India. These regional trends of pet adoption need to be essentially factored for by the companies to increase share in the global veterinary vaccines market.

This report segments the global veterinary vaccines market on the basis of technology, animal type and geography. On the basis of product type, the market is categorized into inactivated vaccines, toxoid vaccines, live attenuated vaccines, conjugated vaccines, subunit and DNA vaccines. On the basis of animal type, the market is segmented into companion animal and livestock animal. The companion animal type segment is sub-segmented into equine, canine, and feline. The livestock animal type segment is further sub-segmented into bovine, ovine, porcine, poultry and other animals.

Key companies covered as a part of this study include Zoetis Inc. Merck Animal Health, Merial Inc. , Boehringer Ingelheim , Bayer Animal Health, Elanco Animal Health, Ceva Animal Health, Heska Corporation, Virbac Inc., and Indian Immunological Ltd.

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