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Zoonotic Disease Treatment Market Share Analysis, Trends, Segmentation, And Forecast To 2033
Zoonotic Disease Treatment Market Share
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According to The Business Research Company's, The zoonotic disease treatment market size has grown strongly in recent years. It will grow from $37.20 billion in 2023 to $39.71 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to the emergence of major zoonotic outbreaks, urbanization, and habitat encroachment, one health approach, increased surveillance and reporting, globalization, and increased travel and public awareness and education.
The zoonotic disease treatment market size is expected to see strong growth in the next few years. It will grow to $52.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to climate change and environmental factors, government and international funding, advancements in medical technology, regulatory support and streamlined approvals, and collaborative research and development. Major trends in the forecast period include the development of broad-spectrum antivirals, strengthening global health infrastructure, advances in diagnostic technology, growth in vaccine development platforms, and focus on preventive measures.
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Major companies operating in the zoonotic disease treatment market focus on developing innovative products, such as the tick-borne encephalitis (TBE) vaccine, to address the growing need for effective prevention and control of zoonotic diseases. The tick-borne encephalitis (TBE) vaccine is a preventive measure against the tick-borne encephalitis virus, transmitted to humans through tick bites. It stimulates the immune system to produce antibodies against the TBE virus, reducing the risk of developing the disease. For instance, in August 2021, Pfizer Inc., a US-based biopharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved TICOVAC, a tick-borne encephalitis (TBE) vaccine. TICOVAC is the only FDA-approved vaccine designed to safeguard adults and children in the United States against the TBE virus, particularly beneficial for those residing in or traveling to TBE-endemic regions.
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Major Key Players of the Market:
Pfizer Inc., Johnson & Johnson Services Inc., Merck And Co. Inc., Bayer AG, Sanofi S.A., AstraZeneca plc, Novartis International AG, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Teva Pharmaceutical Industries Ltd., Zoetis Inc., Boehringer Ingelheim International GmbH, Elanco Animal Health Incorporated, IDEXX Laboretories Inc., Hikma Pharmaceuticals PLC., Ceva Santé Animale, Vir Biotechnology Inc., Virbac, Vetoquinol S.A., BioCryst Pharmaceuticals Inc, Heska Corporation
Zoonotic Disease Treatment Market 2024 Key Insights:
• The zoonotic disease treatment market size is expected to see strong growth in the next few years. It will grow to $52.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
• Increased Demand For Animal Proteins Drives Growth In Zoonotic Disease Treatment Market
• Product Development In Zoonotic Disease Treatment Through Vaccine Research And Development
• North America was the largest region in the zoonotic disease treatment market in 2023
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