Animal Vaccines Market Growth, Sales, Cost and Profit Till 2027
Animal
Vaccines Market Research Report: By Type (Porcine, Livestock, Poultry,
Companion Animal, Others), Technology (Live Attenuated, Inactivated, and
Others), Indications (Foot & Mouth Disease, and Others), Composition –
Global Forecast Till 2027
Animal Vaccines Market Highlights
The Global Animal Vaccines Market
is expected to grow at an approximate CAGR of 5.65% during forecast period,
2018–2023.
Increasing participation of
market players is the key factor driving the animal vaccines market. For
instance, in 2015, Boehringer Ingelheim launched two new swine vaccines against
Porcine Reproductive and Respiratory Syndrome (PRRS) i.e. Ingelvac PRRSFLEX EU
for piglets and ReproCyc PRRS EU for breeding gilts.
Various other factors such as
increasing incidence of livestock diseases, technological advancements,
increasing adoption of companion animals, and rising government initiatives are
also expected to propel the growth of the market.
However, high storage costs for
vaccines, and inadequate surveillance and reporting systems can hinder the
market growth over the forecast period.
Segmentation
The Global Animal Vaccines
Market is segmented based on type, technology, indications, composition and
region.
The Global Animal Vaccines
Market, by type is segmented into static porcine vaccines, poultry vaccines,
livestock vaccines, companion animal vaccines, aquaculture vaccines, and
others. The livestock vaccine is further
segmented into bovine vaccines, and small ruminant vaccines. The livestock
vaccine is further segmented into canine vaccines, and feline vaccines.
The market, by technology, is
segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines,
recombinant vaccines, and others.
Based on indications, the
market is segmented into foot & mouth disease, parvovirus, distemper,
reproductive & respiratory syndrome, and others.
Based on composition, the
market is segmented into mono vaccine, and combination vaccines.
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Regional
Analysis
The Americas dominated the
global market for animal vaccines owing to the presence of major market
players, rising pet adoption and developed economies like US and Canada within
the region. According to the American Society for the Prevention of Cruelty to
Animals
(ASPCA), nearly 6.5 million
companion animals enter US animal shelters nationwide every year.
In 2017, it was estimated that
Europe stood second in the global animal vaccines market. This can be
attributed to the rising research and development investments. For instance, in
2018, Boehringer Ingelheim announced to reinforce its leading position in the
veterinary vaccine market with 70 million euro investment in the R&D and
biological production activities.
Asia Pacific was projected to
be the fastest growing region in 2017. Increasing awareness about animal health
drives the regional markets of the Asia Pacific region. In 2016, at the 5th
Global Animal Health Conference, HealthforAnimals association called for
greater cooperation between national governments to improve market access for
veterinary medicines.
On the other hand, the Middle
East and Africa held least share in the global animal vaccines market due to
the low per capita income, especially within the African region. The market
growth in this region is expected to be driven by increasing cases of zoonotic
diseases. According to a 2015 study published in the PLOS journal, annual
incidences of human rabies in the Middle Eastern countries vary from 0.02 to
1.3 per million human populations.
Key
Players
Some of the key players in the
global animal vaccines market are Bayer AG, Biogenesis Bago, Boehringer
Ingelheim GmbH, China Animal Husbandry, Elanco Animal Health, Hester, Idt
Biologika, Indian Immunologicals Limited, Merck Animal Health, MSD Animal
Health, Phibro Animal Health, Tianjin Ringpu, Vetoquinol, Zoetis Inc., and
others.
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