Press release
Companion Animal Veterinary Vaccines Market Surges, Projected to Reach $4.79 Billion by 2028
Companion Animal Veterinary Vaccines Market
Driving Forces:
Pet Ownership Dynamics Spur Market Growth:
The surge in pet ownership, particularly among Gen X and Gen Y adults, contributes significantly to the expansion of the Companion Animal Veterinary Vaccines market. Increased adoption rates, exemplified by over 80% of Gen Y and Gen Z owning dogs, have fueled the market, aligning with the evolving dynamics of multiple pet ownership.
Companion Animal Health Expenditure as a Propeller:
The upward trajectory of spending on companion animal health propels the market forward. Recognizing the pivotal role of vaccinations in preventive healthcare for pets, the heightened expenditure on pet health, witnessed through a notable increase in 2022 to $136.8 billion in the US, augurs well for the growth of the Companion Animal Veterinary Vaccines market.
Explore the Global Companion Animal Veterinary Vaccines Market with a Detailed Sample Report:
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Key Market Players:
Major companies shaping the Companion Animal Veterinary Vaccines market landscape include C.H. Boehringer Sohn AG & Co. KG, Eli Lilly and Company, Heska Corp., Merck and Co. Inc., Elanco Animal Health Incorporated, Zoetis Inc., Ceva Sante Animale SA, Bayer AG, Neogen Corporation, and IDEXX Laboratories Inc., among others.
Emerging Trends:
Strategic Collaborations Drive Innovation:
Companies in the Companion Animal Veterinary Vaccine sector are increasingly engaging in strategic collaborations to foster innovation. Merck & Co.'s subsidiary MSD Animal Health's partnership with Viscon Hatchery Automation's Vinovo B.V. exemplifies such collaborations, aiming to set a new standard in safe and effective vaccination for improved bird welfare.
Innovative Vaccine Introductions Propel Revenue:
Innovative vaccine introductions, exemplified by products like Boehringer Ingelheim's Feligen RCPCh for cats, contribute to revenue growth. These vaccines, providing protection against various infectious diseases, showcase the industry's commitment to advancing pet healthcare.
Regional Landscape and Market Segmentation:
North America emerges as the largest region in the Companion Animal Veterinary Vaccines market in 2023, closely followed by Asia-Pacific.
The companion animal veterinary vaccines market covered in this report is segmented -
1) By Product: Inactivated, Live Attenuated, Recombinant, Other Products
2) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
3) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores, Other Distribution Channels
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Companion Animal Veterinary Vaccines Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Companion Animal Veterinary Vaccines Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on companion animal veterinary vaccines market size, companion animal veterinary vaccines market drivers and trends, companion animal veterinary vaccines market major players, competitors' revenues, companion animal veterinary vaccines market positioning, and companion animal veterinary vaccines market growth across geographies. The companion animal veterinary vaccines market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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