The report " — Veterinary/Animal Vaccines Market Product (Porcine, (Companion-Canine), (Livestock-Bovine), Poultry, Aquaculture), Diseases (Rabies, FMD, Swine Influenza, Strangles, Furunculous), Technology (DNA, Recombinant, Inactivated, Conjugate) - Forecast to 2021", provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the global market, along with estimates and forecasts of revenue.
The global veterinary vaccines market is poised to reach USD 7.68 Billion by 2021 from USD 5.81 Billion in 2016, at a CAGR of 5.8% from 2016 to 2021.
Factors such as the increase in livestock population and repeated breakouts of livestock diseases; increasing incidence of zoonotic diseases; initiatives by various government agencies, animal associations, and leading players; and the introduction of new vaccine types are driving the veterinary vaccine market. However, the rising costs of storage & maintenance of vaccines and the increasing prices of meat (promoting the adoption of vegetarian diets) are hindering the growth of the veterinary vaccines market.
The veterinary vaccines market is segmented on the basis of product, disease, technology, and region. The veterinary vaccine products market is categorized into companion animal vaccines, livestock vaccines, poultry vaccines, porcine vaccines, equine vaccines, aquaculture vaccines, and other animal vaccines. In this market, companion animal vaccines form the fastest-growing product segment, due to increasing awareness about vaccination, increasing number of zoonotic diseases in the human population, and the increasing number of pets and pet owners.
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On the basis of technology, the veterinary vaccines market is classified into inactivated vaccines, live attenuated vaccines, toxoid vaccines, conjugate vaccines, DNA vaccines, recombinant vaccines, and subunit vaccines. Live attenuated vaccines hold the largest share of the veterinary vaccines market, by technology. The live attenuated vaccines segment is mainly driven by factors such as the increasing prevalence of diseases among porcine and poultry animals as well as the ease of administration and long-term immunity offered by these vaccines.
On the basis of geography, the veterinary vaccines market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). In 2016, Europe accounted for the largest share of the veterinary vaccines market, followed by North America. However, Asia is expected to register the highest growth during the forecast period. In Asia, market growth will primarily be concentrated in China, India, Thailand, and South Korea. Major players operating in the veterinary vaccines market are Zoetis Inc. (Pfizer) (U.S.), Merck Animal Health (U.S.), Merial Inc. (Sanofi) (France), Boehringer Ingelheim (Germany), and Elanco Animal Health (U.S.).
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Release ID: 148984