Press release
Animal Vaccines Market Size Worth USD 17.3 Billion by 2030 at 5.7% CAGR
Animal Vaccines Market
In a recent research report by Market Research Community, the animal vaccines market is expected to surpass USD 17.3 Billion by the year 2030, from USD 10.5 Billion in 2021.
An animal vaccine is a drug intervention that is administered to animals to build an immune response against infectious diseases such as rabies, foot & mouth diseases, and influenza virus.
The recombinant vaccine product segment is anticipated to grow at the fastest CAGR during the estimated period. The factors that support the fastest growth are the reduced risks of pathogenicity after vaccination in animals, enhanced stability to carry multiple gene inserts, and high effectiveness against diseases such as Lyme disease, pseudorabies, Newcastle disease, and avian influenza.
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Top Key Players of the Animal Vaccines Market:
Zoetis, Virbac SA, Merck, Phibro Animal Health Corporation, Boehringer Ingelheim, Ceva, Pfizer, Elanco, Hygieia Biological Laboratories, Arko Laboratories, Ltd.
Type Covered in This Report Are:
Companion Animal (Cats and Dogs)
Livestock Animal (Pigs, Sheep, Cattle, Poultry, Goats, Camels, And Others)
Aquaculture
On the Basis of Distribution Channel:
Veterinary Hospitals
Veterinary clinics
Pharmacies
drug stores
Others
Root of Administration:
Subcutaneous
Intramuscular
Intranasal
Regional Analysis:
North America- (U.S., Canada, Mexico)
Europe- (Germany, France, U.K., Russia, Italy, Spain, BENELUX, Rest of Europe)
Asia Pacific- (China, Japan, India, South Korea, Australia, ASEAN, Rest of Asia Pacific)
Latin America- (Brazil, Argentina, Chile, Rest of Latin America)
Middle East and Africa- (GCC, Turkey, Israel, Rest of MEA)
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The Asia Pacific is estimated to have the second largest market share in the increased animal vaccines market in the forecast period. The factors such as the rise in animal healthcare infrastructure development and increased expenditure on novel animal vaccines development are the major contributors to the growth of the animal vaccines market in the region.
The market is projected to grow at a significant pace reaching a CAGR of approximately 5.7%, over the forecast period of 2022-2030, despite a considerable fall in product sales during the initial phase of pandemic spread and lockdown restrictions imposed globally.
The study is categorized into major segments and further into sub-segments, such as by product (inactivated, live attenuated, subunit vaccines, recombinant, DNA vaccines, and others), by animal type (companion animal (cats and dogs), livestock animal (pigs, sheep, cattle, poultry, goats, camels, and others), and aquaculture), by route of administration (subcutaneous, intramuscular, intranasal), by distribution channel (veterinary hospitals, veterinary clinics, pharmacies, and drug stores, and others), to forecast the market size by value; also includes the analysis of past market dynamics from 2016 - 2021, considering 2021 as the base year.
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The research provides answers to the following key questions:
What is the expected growth rate of the Animal Vaccines Market? What will be the market size for the forecast period, 2022 - 2030?
What are the major driving forces responsible for transforming the trajectory of the industry?
Who are major vendors dominating the Animal Vaccines industry across different regions? What are their winning strategies to stay ahead in the competition?
What are the market trends business owners can rely upon in the coming years?
What are the threats and challenges expected to restrict the progress of the industry across different countries?
What are the key opportunities that business owners can bank on for the forecast period, 2022 - 2030?
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