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Veterinary Vaccines Market 2022 Opportunities, Competition from Opponents, Dynamics, Demand, Challenge and Risk and Forecast to 2028 | Aratana Therapeutics, Inc., Regeneus Ltd., Morphogenesis, Inc., Karyopharm Therapeutics, Inc.,

06-03-2022 03:02 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Veterinary Vaccines

Veterinary Vaccines

Veterinary Vaccines Market To Witness Robust Growth Due To Increasing Viral Outbreaks In Livestock And Companion Population

Overview:

Despite technological advancements in the field of veterinary vaccines, many issues still remain with the current crop of vaccines. Despite the improvements, the majority of vaccines are based on live pathogen strains, which have significant risks that are difficult to mitigate. Additionally, the short shelf-life of vaccines makes them uneconomical for commercial production. Fortunately, some vaccines are making great strides, as shown in the following discussion. Although veterinary vaccines have provided enormous economic benefits to the animal industry, the emergence of concerns regarding the safety of these products has only recently become a focus of public health advocacy.

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Market Dynamics:

Increase in the number of viral outbreaks in livestock and companion population is expected to propel growth of the global veterinary vaccines market over the forecast period. Viral outbreak in livestock population such as swine flu, nipah virus, bird flu, and canine influenza and others is growing. For instance, according to statistics from statista, in 2018, the number cases of swine flu (H1N1) in India was 15,266 and it increased to 28,789 in 2019.

However, high cost of storage vaccines, and complex methodology for vaccines is expected to hinder growth of the global veterinary vaccines market over the forecast period.

Impact of COVID-19:

The covid-19 pandemic affected the several industries adversely. During the pandemic, various market activities such as supply, distributions were restricted. This economically affected many industries. The global veterinary vaccines market was also negatively affected by the global veterinary vaccines market as many governments limited treatment of severely infected animals to avoid outbreak of viruses. As countries implemented lockdown regulations, it affected development of animal vaccines among various other activities. However, the pandemic situation going back to normal is expected to aid in growth of the market.

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Key Takeaways:

• The global veterinary vaccines market is expected to grow, with a CAGR of 6.2% over the forecast period due to rising initiatives by government agencies and animal associations. For instance, in October 2021, government of India launched its new National Action Plan for Mediated Rabies Elimination (NAPRE) by 2030 to eliminate dog mediate rabies.

• North America is anticipated to witness significant growth in the global veterinary vaccines market over the forecast period. This is attributed to increase in the adoption of increased animal immunization and use of technologically developed products in the region.

• Major players working in the global veterinary vaccines market are Ourofino Saúde Animal, Merck & Co., Inc., Intas Pharmaceuticals Ltd., Zoetis, Neogen Corporation, Boehringer Ingelheim International GmbH, Phibro Animal Health Corporation, Virbac, Ceva, Biogénesis Bagó, Elanco, and Indian Immunologicals Ltd.

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About US:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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