The Asia Pacific market region, with regard to veterinary vaccines, is predicted to register a CAGR of 6.25% over the estimated period of 2020-2028. The important factors boosting the market growth are a wide range of product launches and investments in vaccine manufacturing facilities, especially in China, India, and Thailand.
The Asia Pacific veterinary vaccines market is further analyzed by segregating the region into countries such as South Korea, China, Australia & New Zealand, Indonesia, India, Japan, Vietnam, Thailand, and the rest of Asia Pacific that includes Malaysia, Philippines, Singapore, and Cambodia. In South Korea, the increasing prevalence of animal diseases, coupled with various initiatives related to vaccination for animals, is propelling the growth of the market in this region. In countries like Thailand, drug law regulates both human and veterinary medicinal products. All medical products require licensing for manufacturing, selling, importing, and registration. The swine industry is huge in Thailand and is plagued by viral epidemics. The country imports all of its animal vaccines at present, but they are often ineffective, driving the demand for the market. In Indonesia, traditionally, poultry plays a major role in the lives of its people. Poultry contributes 60% of the national meat supply. In keeping with the increased demand for poultry meat, Indonesia continued to contribute to the improved health of poultry. Vietnam has managed to eradicate most of the diseases like bird flu, blue ear, or foot and mouth disease among cattle and poultry, according to the Department of Animal Health. In the rest of the Asia Pacific region, growth in the vaccines market can be attributed to the growing livestock population, increasing awareness about animal health and zoonotic diseases, and the frequent outbreaks of animal diseases in these regions.
Elanco, Virbac SA, Hester Biosciences Ltd., Zoetis Inc., Merck & Co., Inc., etc. are some of the leading companies operating in the market.
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