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Animal Vaccines Market -Evolving Technology, Growth, Trends Product and Market Analysis
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The global animal vaccines market is segmented based on various products, technologies and animal diseases. Product segment covers companion animal vaccines, poultry, livestock, porcine, aquaculture and equine. The companion animal vaccine sub-segment is further sub-divided into feline vaccines and canine vaccines. The livestock vaccines sub-segment includes bovine vaccines and ruminant vaccines. The livestock vaccines are the largest sub-segment in global animal vaccines market. However, companion vaccine and aquaculture are fastest growing sub-segments in global animal vaccines market.
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Europe dominates the global animal vaccines market followed by North America. Germany, France and the U.K. are some of the largest markets for animal vaccines in Europe. The U.S., followed by Canada, is the largest market for animal vaccines in North America. The key driving factor for animal vaccines market in these regions is increasing research activities on various types of animal diseases. In addition, increased awareness about animal health also has a strong positive impact on the growth of animal vaccines market in Europe and North America.
However, Asia-Pacific represents the fastest growing region in the global animal vaccines market. This is due to minimal wages and availability of skilled professionals in the region. These factors attract vaccines manufacturing companies to invest in the Asian countries. In addition, increasing awareness about animal health also boosts the growth of animal vaccines market in the region. China, Japan and India are the largest animal vaccines markets in the region.
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However, patent expiry of various major vaccines and increasing maintenance costs for vaccines are key restraints of this market. Stringent regulations and legislations and shift towards vegetarian food by consumers also obstruct the growth of global animal vaccines market. Rapid product launches and increasing mergers and acquisitions between vaccines manufactures are emerging trends of the global animal vaccines market.
Some of the major competitors in the market include Pfizer, Sanofi-Aventis, Bayer HealthCare, Novartis, Boehringer Ingelheim, Ceva, Heska Corporation, Bioniche Animal Health Canada Inc. and Virbac.
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