DUBLIN, Oct. 24, 2023 /PRNewswire/ — The “Veterinary Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” report has been added to ResearchAndMarkets.com’s offering.
The global veterinary vaccines market, with a market size of US$12.4 billion in 2022, is poised for significant growth, with an anticipated market size of US$21.5 billion by 2028. This growth is expected to be characterized by a robust compound annual growth rate (CAGR) of 9.3% during the forecast period spanning from 2023 to 2028.
Market Overview:
Veterinary vaccines are bio-prepared immunizations administered to domestic and wild animals through parenteral and oral routes to stimulate protective immune responses without causing the diseases themselves. These vaccines play a crucial role in reducing animal suffering, enhancing immune efficiency, and preventing the development and transmission of various contagious zoonotic diseases. They are cost-effective, reliable, and offer long-term prevention, making them essential for both companion and livestock animals worldwide.
Market Trends and Drivers:
Several key factors are driving the growth of the global veterinary vaccines market:
- Rising Demand for Effective Immunization: Increasing demand for effective immunization products, especially with the domestication of companion and livestock animals, is a key driver.
- Prevalence of Infectious Epizootic Disorders: The rising prevalence of infectious epizootic disorders is leading to greater demand for vaccines to protect animal health.
- Government Investments: Governments are investing significantly in the pharmaceutical sector to enhance veterinary vaccine manufacturing procedures.
- Innovation in Vaccine Technology: The introduction of DNA and RNA vaccines with improved stability, efficacy, and administration approaches is contributing to market growth.
- Needle-Free Vaccine Injections: Innovative intramuscular needle-free vaccine injections are gaining popularity due to their enhanced safety and less painful administration.
- Protection of Livestock-Based Products: Veterinary vaccines are needed to prevent disease transmission from livestock-based products like milk, meat, and eggs.
- Healthcare Infrastructure Improvement: Improvements in healthcare infrastructure and ongoing R&D activities are fueling market growth.
Market Segmentation:
The veterinary vaccines market is segmented based on various factors:
By Vaccine Type:
- Livestock Vaccines
- Bovine Vaccines
- Poultry Vaccines
- Porcine Vaccines
- Others
- Companion Animal Vaccines
- Canine Vaccines
- Feline Vaccines
- Equine Vaccines
By Technology:
- Attenuated Live Vaccines
- Inactivated Vaccines
- Toxoid Vaccines
- Recombinant Vaccines
- Others
By Route of Administration:
- Subcutaneous
- Intramuscular
- Intranasal
By Distribution Channel:
- Veterinary Hospitals
- Veterinary Clinics
- Pharmacies and Drug Stores
- Others
By Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
Key players in the global veterinary vaccines market include Boehringer Ingelheim International GmbH, Ceva Sante Animale, Elanco Animal Health Incorporated, Hester Biosciences Limited, HIPRA, Indian Immunologicals Limited, Merck & Co. Inc., Neogen Corporation, Phibro Animal Health Corporation, Virbac SA, Zoetis Inc., and others.
For more information about this report visit https://www.researchandmarkets.com/r/1makbk
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SOURCE Research and Markets
