The Global Veterinary Vaccines Market to Garner Revenue of $11.80 Billion by 2028

According to Triton's report, in 2019, the global veterinary vaccines market gained $7.18 billion, and is anticipated to display growth at CAGR of 5.68% by 2028.

A recent study by Triton Market Research titled ‘Global Veterinary Vaccines Market’ consists of the Global Analysis and Forecasts by Vaccine Type (Companion Vaccine [Equine Vaccine, Feline Vaccine, Canine Vaccine], Livestock Vaccine [Poultry Vaccine, Bovine Vaccine, Aquaculture Vaccine, Porcine Vaccine, Other Livestock Vaccine]), Technology (Recombinant Vaccine, Inactivated Vaccine, Live Attenuated Vaccine, Toxoid Vaccine, Other Technology), Disease Type (Bovine Disease, Porcine Disease, Poultry Disease, Canine Disease, Aquaculture Disease, Other Disease Type) and by Geography (Europe, North America, Latin America, Asia-Pacific, Middle East and Africa).

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As studied by Triton, the global veterinary vaccines market is predicted to display a CAGR of 5.68% throughout the evaluated years of 2019-2028. Additionally, the market is likely to generate a revenue worth $11.80 billion by the year 2028.

Vaccines aid in developing naturally acquired immunity by stimulating the immune system with the help of non-pathogenic organisms or by their immunogenic components. Hence, veterinary vaccines are vital to build-up animal health, and help decrease antibiotics usage and the risk relating to drug-resistant microorganisms.

The rise in livestock disease and the growing prevalence of zoonotic diseases are major factors responsible for the growth of the global market. Anthrax is one of the widespread livestock diseases globally. As per the WHO, national initiatives by governments have reduced anthrax spread. But it continues to increase due to the lack of experience among veterinarians to recognize and report such conditions. The foot-and-mouth disease is also widespread in several regions, along with major transboundary animal diseases of economic concern. In such a scenario, livestock disease management can assist in diminishing such conditions by vaccinating animals. However, the adverse effects of post-vaccination and the shortage of skilled farmers obstruct the veterinary vaccines market's growth.

The market for veterinary vaccines is segmented into vaccine type, technology, and disease type. The vaccine type is further divided into companion vaccine and livestock vaccine. First, the companion vaccine is sectioned into equine vaccine, feline vaccine, and canine vaccine. Whereas, livestock is divided into poultry vaccine, bovine vaccine, aquaculture vaccine, porcine vaccine, and other livestock vaccines. The technology is sub-sectioned into recombinant vaccine, inactivated vaccine, live attenuated vaccine, toxoid vaccine, and other technology. Lastly, disease type is branched into bovine disease, porcine disease, poultry disease, canine disease, aquaculture disease, and other disease type.

The Asia-Pacific region is anticipated to display the fastest growth in the global market over the given period. The developing nations in the region have observed an advancement in the pet care industry. For instance, the Indian pet care industry has expanded owing to the increase in awareness about pet health and care products. Moreover, the adoption of pets is rising every year, which is increasing their healthcare needs. This has also led to a substantial increase in the production of vaccines. Further, China's animal health industry is also growing at a fast rate, and is observing multiple transformations. Numerous companies are also expanding or investing heavily in the production of veterinary vaccines. Therefore, vaccine technology development is expected to offer several growth opportunities to the veterinary vaccines market in the future.

Phibro Animal Health Corp, Zoetis, Vaxxinova GmbH-Germany, Hygieia Biological Laboratories, Boehringer Ingelheim Animal Health GmbH, Elanco (Eli Lilly And Company), Virbac SA, Ceva Sante Animale, Romvac Company SA, HIPRA, Hester Biosciences Limited, Merck & Co, Neogen Corporation, and Anicon Labor GmbH are key enterprises in this market.

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Question & Answer: Veterinary Vaccines Market

Question 1: What elements are responsible for the growth of the global veterinary vaccines market?
Answer: The rise in livestock disease and the growing prevalence of zoonotic diseases are major factors responsible for the growth of the global market. Anthrax is one of the widespread livestock diseases globally. As per the WHO, national initiatives by governments have reduced anthrax spread. But it continues to increase due to the lack of experience among veterinarians to recognize and report such conditions. The foot-and-mouth disease is also widespread in several regions, along with major transboundary animal diseases of economic concern. In such a scenario, livestock disease management can assist in diminishing such conditions by vaccinating animals.

Question 2: What factors are obstructing the growth of the veterinary vaccines market?
Answer: The adverse effects of post-vaccination and the shortage of skilled farmers obstruct the veterinary vaccines market's growth.

Question 3: Which region is anticipated to display fastest growth rate in the veterinary vaccines market?
Answer: The Asia-Pacific region is anticipated to display the fastest growth in the global market over the given period. The developing nations in the region have observed an advancement in the pet care industry. For instance, the Indian pet care industry has expanded owing to the increase in awareness about pet health and care products. Moreover, the adoption of pets is rising every year, which is increasing their healthcare needs. This has also led to a substantial increase in the production of vaccines.

Further, China's animal health industry is also growing at a fast rate, and is observing multiple transformations. Numerous companies are also expanding or investing heavily in the production of veterinary vaccines. Therefore, vaccine technology development is expected to offer several growth opportunities to the veterinary vaccines market in the future.

Question 4: Which are the key enterprises present in the veterinary vaccines market?
Answer: Phibro Animal Health Corp, Zoetis, Vaxxinova GmbH-Germany, Hygieia Biological Laboratories, Boehringer Ingelheim Animal Health GmbH, Elanco (Eli Lilly And Company), Virbac SA, Ceva Sante Animale, Romvac Company SA, HIPRA, Hester Biosciences Limited, Merck & Co, Neogen Corporation, and Anicon Labor GmbH are key enterprises in this market.

Related Report:
Global Animal Nutrition Market

The global animal nutrition market is projected to exhibit growth in its revenue value during 2019-2028 at a CAGR of 5.18%. It is likely to display revenue worth $18.05 billion by 2028.

Animal nutrition products are mainly used to improve the immune system of animals, upscale livestock production, and stimulate animal nutrition. These products comprise dietary supplements that deliver health benefits to the animals. Some of the animal nutrition products include organic acids, vitamins, carotenoids, and enzymes. Additionally, the increase in industrialization and consumption of animal-based products has propelled the animal nutrition market's growth worldwide.

The industrialization of livestock, along with the rise in need for animal nutrition, acts as major driving factors responsible for the development of the studied market. Moreover, the upscale in demand for meat products and an increase in disposable income is creating favorable conditions for the animal nutrition market to expand. Also, the rise in the adoption of pets is also contributing to the progress of the studied market. The forged products and expensive animal nutrition ingredients are, however, obstructing the expansion of the animal nutrition market. The increase in environmental challenges is another factor hindering the growth of the global market.

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