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Companion Animal Veterinary Vaccines Market 2024 - Business Analysis, Development Outlook, Regional Strategies And Outlook By 2033
Companion Animal Veterinary Vaccines Market
As per the report, the companion animal veterinary vaccines market size has grown strongly in recent years. It will grow from $3.47 billion in 2023 to $3.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The companion animal veterinary vaccines market size is expected to see strong growth in the next few years. It will grow to $4.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
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Pet Ownership Dynamics A Catalyst For Growth In Veterinary Vaccines
Increased pet ownership by Gen X and Gen Y adults contributed to the growth of the companion animal veterinary vaccine market during the forecast period. According to the APPA, millennial, or Gen Y, represent the largest segment of pet owners for all types of pets. More than 80% of Gen Y and Gen Z own a dog, and 50% or less own a cat as a pet. Multiple pet ownership is also on the rise in some parts of the world. For instance, in February 2023, according to Chewy Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. . Therefore, the rise in pet ownership aids in the growth of the companion animal veterinary vaccine market.
Strategic Collaborations Fostering Innovation In Companion Animal Veterinary Vaccines
Companies in the companion animal veterinary vaccine industry are increasingly collaborating and partnering with other players to drive product innovations. To succeed in the increasingly competitive veterinary market, companion animal veterinary vaccine companies are entering into new geographies and developing innovative products through sharing skills and expertise with other players. For instance, Merck & Co.'s subsidiary MSD Animal Health announced a strategic partnership with Vinovo B.V., a division of Viscon Hatchery Automation, the leading hatchery automation company, to provide a new standard in safe and effective Vinovo vaccination to improve bird welfare and reduce vaccine reactions.
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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Major companies operating in the companion animal veterinary vaccines market 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, ImmuCell Corporation, Intervet Inc., Vetoquinol SA, IDEXX Laboratories Inc., Merial Inc., Biogenesis Bago SA, Hipra India Pvt. Ltd., Bimeda Animal Health Limited, Phibro Animal Health Corporation, Nexvet Biopharma plc, Bioniche Animal Health Canada Inc., Bioiberica S.A., Laboratorios Hipra S.A., Norbrook Laboratories Ltd., Dechra Pharmaceuticals PLC, Kyoritsu Seiyaku Corporation, VDS Pharma Animal Health, Kepro Technologies Private Limited, ECO Animal Health Group plc, Biostadt India Limited, bio-pharmaceutical company, Choong Ang Vaccine Laboratories Co. Ltd., CZ Veterinaria S.A.
Contents of the report:
1. Executive Summary
2. Companion Animal Veterinary Vaccines Market Report Structure
3. Companion Animal Veterinary Vaccines Market Trends And Strategies
4. Companion Animal Veterinary Vaccines Market - Macro Economic Scenario
5. Companion Animal Veterinary Vaccines Market Size And Growth
…..
27. Companion Animal Veterinary Vaccines Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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