VeterinaryVaccine Market by Technology (Inactivated Vaccines, Toxoid Vaccines, LiveAttenuated Vaccines, and Subunit and DNA Vaccines), by Animal Type (Companion(Equine, Canine, and Feline) and Livestock (Bovine, Ovine, Porcine, Poultry,and Others)), and by Region (North America, Latin America, Europe, AsiaPacific, Middle East, and Africa) was valued at US$ 6,766.5 million in 2018, and is expected toexhibit a CAGR of 6.2% over the forecast period (2020-2027).
Various manufacturers such asZoetis, Inc., Regeneron Pharmaceuticals, Boehringer Ingelheim, and Merck arefocused on conducting research projects to understand the viral diseases, inorder to develop vaccination, for efficiently treating animals from variousdiseases. For instance, Regeneron Pharmaceuticals, Inc. and Zoetis, Inc. inJune 2018, entered into a five-year collaboration to research and develop newveterinary treatments by using Regeneron's monoclonal antibody therapeutics inanimals
Moreover, In January 2017,Boehringer Ingelheim and Merial officially merged, and have been going throughintegration since. With the inauguration of the new integrated R&D Center,the teams from both companies have now joined their forces in the R&DCenter, which will leverage the broad R&D expertise to create powerfulcollaboration in veterinary R&D capabilities.
Furthermore, BoehringerIngelheim, in May 2018 inaugurated its new integrated Asian Veterinary Research& Development Centre in China to enhance its research and innovationcapacity.
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Moreover, Aratana Therapeutics,Inc., AT-O14 Vaccine is under clinical trials for canine osteosarcoma, andsimilar vaccines in pipeline are expected to drive growth of the veterinaryvaccine market over the forecast period.
Manufacturers are focused on adoptinginorganic growth strategies such as acquisition to strengthen their marketposition is expected to drive growth of the market over the forecast period.For instance, in 2017, Merck Animal Health acquired Prondil S.A. Dedicated tothe development of products for animal health care, particularly vaccines tolocal and international markets. This acquisition helped Merck to addcomprehensive portfolio of vaccines for livestock into their existing productportfolio.
In addition, in 2017, Elanco, asubsidiary of Eli Lilly and Company, acquired Boehringer Ingelheim Vetmedica,Inc.’s feline, canine, and rabies vaccines portfolio. This acquisition helpedElanco to expand its companion animal portfolio by adding vaccines forbordetella, Lyme disease, feline leukemia, rabies, and parvovirus.
Browse 25 Market Data Tables and33 Figures spread through 220 Pages and in-depth TOC on "VeterinaryVaccine Market, by Technology (Inactivated Vaccines, Toxoid Vaccines, LiveAttenuated Vaccines, and Subunit and DNA Vaccines), by Animal Type (Companion(Equine, Canine, and Feline) and Livestock (Bovine, Ovine, Porcine, Poultry,and Others)), and by Region (North America, Latin America, Europe, AsiaPacific, Middle East, and Africa) - Global Forecast to 2027"
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Rising number of research grantsto launch various anti-cancer therapies for veterinary cancer treatment isexpected to be a major factor that is expected to drive growth of the globalveterinary vaccine market over the forecast period. For instance, in 2017,Animal Cancer Foundation (ACF) received US$ 1 million grant from the BlueBuffalo Foundation to support comparative oncology research to studysimilarities between naturally occurring cancers in people and pets, and findeffective treatment for both species. Moreover, in 2016, the Petco Foundationand Blue Buffalo Foundation invested US$ 2.35 million to support pet cancerresearch and treatment, as it represents a major cause of illness and prematuredeath in affected species, globally.
Key Takeaways of the VeterinaryVaccine Market:
The global veterinary vaccinemarket is expected to exhibit a CAGR of 6.2% over the forecast period(2019-2027), owing to increasing number of R&D initiatives for veterinaryvaccine and acquisitions by key players.
Among technology, inactivatedvaccines segment is expected to account for a major revenue share byInactivated vaccines contains killed pathogens, which cannot replicate andcause any disease.
Major players operating in theglobal veterinary vaccine market include Aratana Therapeutics, Inc., RegeneusLtd., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Zoetis, Inc., EliLilly and Company, Merck & Co., Inc. and Boehringer Ingelheim GmbH.
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