The augmented focus on improving the health of livestock is predicted to spur the development of the veterinary/animal vaccines market share. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The market is estimated to reach a 7.2% CAGR to achieve USD 9,910.59 million by 2025.
The amplified number of individuals opting to have pets is estimated to motivate the veterinary/animal vaccines market, as individuals are increasingly spending to ensure their pets' health. Research breakthroughs are estimated to enhance the veterinary/animal vaccines market companies in the upcoming period.
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Segmental Analysis
The MEA market for Veterinary Vaccines Market can be segmented by technology, disease indication, composition, and animal type.
Technology-wise, the market can be segmented into attenuated, inactivated, toxoid, conjugate, subunit and recombinant DNA. Growing number of farms and animals as companions have given rise to attenuated segment which is currently dominating the market and the situation is expected to remain so in the foreseeable future.
Based on disease indication, the market includes foot & mouth disease, parvovirus, distemper, reproductive & respiratory syndrome and others.
Composition-based segmentation comprises mono vaccine and combination vaccines.
Based on animal type, the market consists poultry, bovine, porcine, companion and other. Poultry segment is accounted for the maximum market share followed by porcine. Meanwhile, companion section is witnessing significant market growth owing to the trend of adoption of pets.
Detailed Regional Analysis
The regional investigation of the veterinary/animal vaccines market in the Middle East, Europe, the Americas, Asia Pacific, and Africa. The Americas regional market is likely to dominate the worldwide veterinary/animal vaccines market. The factors influencing the Americas region's growth are due to the rising livestock population, a growing number of pet owners, and disease epidemics. The Asia Pacific veterinary/animal vaccines market is appraised to be the fastest increasing region in the global market, due to the increasing diffusion of the veterinary sector, a swelling number of private veterinary clinics, collective awareness about animal welfare, and increasing non-governmental organizations' (NGOs) effort for the wellbeing of animals. On the other hand, the Middle East & African regional market has the least share in the veterinary/animal vaccines market.
Competitive Analysis
The reliance on online commerce for sales is estimated to show a significant spike in the forecast period, leading to more investment in its development by market stakeholders. The emphasis on creating reserves of resources to deal with unexpected situations is estimated to shape future market developments. The global market is estimated to see diversification in operating practices as newer models for operation and delivery come into place. The aid from government institutions is estimated to stimulate the global market's development in the coming years. The market may show restrained development due to the second wave of COVID cases resurgence in several regions. The continuance of lockdowns intermittently in several regions may cause obstacles to the market's development as resources such as labour and supply chains to become seriously impacted. The innovations and research being undertaken in the market are estimated to create promising growth options in the coming period.
The well-known companies in the veterinary/animal vaccines market are Zoetis (US), Biogenesis Bago SA (Argentina), Ceva (US), MSD & Co. Inc (US), Elanco (US), Boehringer Ingelheim International GmbH (Germany), Virbac (France), Hipra (Spain), IDT Biologika GmbH (Germany), Phibro Animal Health Corporation (US), and others.
Market Key Players
The key market players operating in the global veterinary/animal vaccines market by MRFR include Boehringer Ingelheim International GmbH (Germany), Biogenesis Bago SA (Argentina), Ceva (US), Elanco (US), Hipra (Spain), IDT Biologika GmbH (Germany), MSD & Co. Inc (US), Phibro Animal Health Corporation (US), Virbac (France), Zoetis (US), and others.
1 Report Prologue
2 Executive Summary
3 Market Introduction
3.1 Definition 18
3.2 Scope of the Study 18
3.3 Research Objective 18
3.4 Assumptions & Limitations 18
3.4.1 Assumptions 18
3.4.2 Limitations 18
3.5 Market Structure 19
4 Research Methodology
4.1 Research Process 21
4.2 Primary Research 22
4.3 Secondary Research 23
4.4 Market Size Estimation 24
4.5 Forecast Model 24
5 Market Dynamics
5.1 Introduction 26
5.2 Drivers 27
5.2.1 Increasing Number of Pet Owners 27
5.2.2 Growing Livestock Population and Disease Outbreaks 27
5.2.3 Advances in Technology underlying Veterinary Vaccines 27
5.2.4 Various Initiatives by Several Government Agencies, Animal Associations, and Prominent Market Players 28
5.3 Restraint 28
5.3.1 High Storage Cost associated with Veterinary Vaccines 28
5.4 Opportunity 28
5.4.1 Rising Investments to Improve Animal Health 28
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