Veterinary Vaccines Market Overview
The global Veterinary Vaccines market was valued at $6,685m in 2017 and is estimated to reach $10,389m by 2021, growing at a CAGR of 7.31% from 2018 to 2023. The growth of the market can be mainly attributed to the availability of vaccines for diverse species. Establishment of both private and public sector distribution systems for vaccines with decent good cold supply chain systems, growing awareness about diseases, and favorable regulatory frameworks are important trends that are driving the growth of the veterinary vaccines market.
Veterinary Vaccines Market Outlook
Veterinary vaccines are the vaccines for protecting animal health and public health, Rabies vaccines for domestic animals and wildlife have nearly eliminated human rabies in developed countries. Animal vaccines are developed and licensed much more quickly than human vaccines. Affordability of animal vaccines is an important factor to be considered so that they are widely used and benefit both animal and human health.
The Veterinary vaccines market report gives an in-depth analysis of different types of vaccines used for animals based on their origin. According to IndustryARC, the Americas regiongenerated the highest market revenue in 2017. The U.S. holds the largest market share of the veterinary vaccines market in the Americas, followed by Canada.
Veterinary Vaccines Market Growth Drivers
With increased spending on research and development, especially in the developed regions such as the Americas and Europe, a new range of vaccines that prevent diseases are being developed. Livestock population is growing across the globe because of improved breeding and cultivation. The growing consumption of animal protein along with the need to maximize yields of milk and meat is driving the livestock population. The increase in livestock population and awareness about the benefits of vaccination among livestock producers are driving the market growth.
Veterinary Vaccines Market Challenges
The high cost of developing vaccines for animals is hindering the growth of veterinary vaccines market.
Drug delivery is a complicated procedure which varies as per the body size, metabolism rate, and so on for the animals. This makes drug delivery in animals complicated and variable in different animals.
The lack of cold chain infrastructure in developing nations has limited the access of drugs in remote parts of many countries. These challenges need to be addressed to tap the market potential.
Veterinary Vaccines Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the plastics in electric vehicle market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of Veterinary Vaccines, and their specific applications in different types of diseases.
Veterinary Vaccines Market Report: Industry Coverage
Types of Vaccines in Veterinary Vaccines Market: Veterinary Viral Vaccine, Veterinary Bacterial Vaccines, Veterinary Parasite Vaccines, and Veterinary Vaccines for Infectious Diseases.
Type of Diseases in Veterinary Vaccines Market: Bovine Vaccines, Porcine Vaccines, Feline Vaccines, Canine Vaccines, Poultry Vaccines, and Equine Vaccines.
Veterinary vaccines market Report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- Europe: The U.K., Germany, Italy, France, Russia and others.
- APAC: China, Japan, South Korea, India, and others.
- Rest of the World: South America, Africa, and the Middle East.
Veterinary Vaccines Market Key Players Perspective
The top companies in the Veterinary Vaccines market include Zoetis, Merck Animal Health, Ceva Animal Health, Boehringer Ingelheim, and Heska Corporation.
Veterinary Vaccines Market Trends
- MSD, animal health division of Merck, introduced “The Science of Prevention” with a record number of abstracts with new data on methods to prevent a broad range of bovine diseases, such as mastitis, bovine respiratory disease, and neonatal diarrhea. According to Dr. Jantijn Swinkels, Global Technical Director, “In today’s day and age, dairy and beef producers face increasing pressure to change the way they operate and proactively prevent disease, not just treat cattle suffering from disease.”