Clostridium Vaccine Market : Share, Analysis To 2024
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Top companies in the market aim to strengthen their positions with strategies such as targeted in-licensing, acquisition, and innovative marketing. Use of the digital medium to reach out to an extended consumer base and serve the consumer more effectively has also started becoming a popular strategy. An instance is the recent update made to Bayer’s BCS cowdition smartphone application in July 2016. The enhanced application is expected to help veterinarians to track the current and future hurdles regarding cattle health, which will help minimize the impact of metabolic diseases on dairy cows.
Transparency Market Research estimates that the global clostridium vaccines market will exhibit a healthy 4.9% CAGR over the period between 2016 and 2024. Rising at this rate, the market, which valued at US$418.0 mn in 2015, is expected to reach US$643.5 mn by 2024. In terms of animal species, the swine segment presently leads but is expected to be outpaced by the growth of the ovine segment. In terms of geography, the global market is dominated by North America, which accounted for over 37% of the global market in 2015.
Rising Intervention by Government Bodies to Play Key Role in Market Development
Government initiatives play a key role the development of animal health care markets. For instance, the China market for veterinary healthcare is chiefly driven by compulsory immunization policy, several animal health awareness programs, the easy availability of affordable veterinary vaccines, and fund for research and development in the field. In several other developed as well as developing economies, funds invested by government bodies for the research and development of veterinary vaccines and medications play a key role in boosting the demand for clostridium vaccines.
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Along with this, the rising global demand for animal products such as cattle milk, meat, and eggs is also a key factor driving the global market for clostridium vaccines. Animal products such as milk, pork, beef, and chicken collectively account for nearly 40% of global agricultural GDP and generated revenues valuing nearly US$600 bn in 2015. The market for these products in developing countries is growing rapidly due to the rising population and increased disposable incomes. The resultant rise in awareness regarding the need for maintaining the excellent health of animals is expected to further drive the clostridium vaccines market in the near future.
High Consumer Dependence on Government Distribution Channels to Hamper Growth
In emerging economies, especially, government bodies play the central role in the distribution of vaccines. The Government of India, for instance, buys clostridium vaccines in bulk from manufacturers and supply them in different regions of the country. Bulk purchase of clostridium vaccines results in reduced prices, resulting in the low profitability of the market thus hampering its overall rate of development.
Moreover, the market's growth is also restrained to vast extent owing to the short exclusivity span of clostridium vaccines. Product exclusivity period in the animal health care industry is mostly only about three years to five years. Shorter exclusivity periods lead to a vast rise in competition from generics and over-the-counter (OTC) products. The increase in generic competition lowers product sales and significantly affects the profitability of the market.
This review of the market is based on a recent market research report published by Transparency Market Research, titled "Clostridium Vaccine (Animal Health) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
For the study, the market has been segmented as follows:
The global Clostridium Vaccine (Animal Health) market is segmented as follows:
Global Clostridium Vaccine (Animal Health) Market Revenue, by Animal Species
Global Clostridium Vaccine (Animal Health) Market Revenue, by Distribution Channel
Veterinary Research institute
Global Clostridium Vaccine (Animal Health) Market Revenue, by Geography
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East and Africa
Rest of Middle East & Africa
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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