The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
“The veterinary vaccines market is projected to grow at a CAGR of 7.2% during the forecast period (2020–2025).”
The global veterinary vaccines market size is projected to reach USD 11.3 billion by 2025 from USD 8.0 billion in 2020, at a CAGR of 7.2%. The growth of this market is driven majorly by factors such as the initiatives by various government agencies and animal associations to maintain animal health, rising incidence of zoonotic diseases, growth in the companion animal population, and the rising demand for animal-derived food products are driving the growth of this market. On the other hand, the high storage cost of vaccines is restraining market growth.
“By technology, the recombinant vaccines segment is expected to grow at the highest CAGR during the forecast period.”
Based on technology, the veterinary vaccines market is segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and other vaccines. The recombinant vaccine segment is expected to register the highest growth during the forecast period. This growth in this segment is driven advantages offered by recombinant vaccines such as the lack of need for adjuvants, free from pathogen contamination, exhibit no post-vaccination reactions, and provide higher safety.
“By type, the porcine vaccines segment dominated the veterinary vaccines market in 2019.”
Based on type, the veterinary vaccines market is segmented porcine vaccines, poultry vaccines, livestock vaccines, companion animal vaccines, aquaculture vaccines, and other animal vaccines. Porcine vaccines accounted for the largest share of the veterinary vaccines market in 2019, primarily due to the increasing porcine population, growing awareness about animal vaccination, and an outbreak of porcine diseases such as PRRS, swine influenza, and Aujeszky’s Disease.
“Asia Pacific veterinary vaccines market is expected to witness the highest growth during the forecast period.”
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to the rising pet adoption, expansion of key vaccine players, increasing product availability, and investments in manufacturing facilities in various Asia Pacific countries, especially in India, China, and Thailand.
A breakdown of the primary participants referred to for this report is provided below:
- By Company Type: Tier 1–36%, Tier 2–45%, and Tier 3–19%
- By Designation: C-level–33%, Director-level–40%, and Others–27%
- By Region: North America–36%, Europe–28%, Asia Pacific–19%, RoW-17%
The prominent players operating in the global veterinary vaccines market include Zoetis (US), Boehringer Ingelheim (Germany), Merck (US), Elanco (US), Ceva (France), Phibro Animal Health Corporation (US), and Virbac SA (France).
The report analyzes the veterinary vaccines market and aims at estimating the market size and future growth potential. The report also includes an in-depth competitive analysis of the key players in this market, along with their company profiles, product offerings, and recent developments.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a more significant share. Firms purchasing the report could use one, or a combination of the below mentioned five strategies for strengthening their market presence.
This report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the veterinary vaccines market
- Service Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the veterinary vaccines market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new systems, growing geographies, and recent developments in the global veterinary vaccines market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, revenue analysis, and services of leading players in the veterinary vaccines market