The global animal vaccines market is experiencing a robust growth at a CAGR of 5.65% over the forecast period with the increasing activities of dog adoption across the world. Earlier, the market held a valuation of USD 6339 million in 2017, which is now projected to increase by the assessment period. Since its valuation in 2017, it has motivated the healthcare industry extensively and is currently eyeing for impressive market growth in the forecast period, as reported by Market Research Future in an intense study.
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Market Drivers & Trends
The global animal vaccines market is basking well through the attention from rising pert adoption and awareness of animal-related diseases, which is supporting the market growth substantially. The market players are also actively working to introduce more advances vaccines in the market such as in 2015, Boehringer Ingelheim launched two new swine vaccines against Porcine Reproductive and Respiratory Syndrome (PRRS), i.e., Ingelvac PRRSFLEX EU for piglets and ReproCyc PRRS EU for breeding gilts. Such factors are constantly driving the market to grow at a steady pace.
The study further incorporates factors behind the global animal vaccine market growth such as increasing incidence of livestock diseases, technological advancements, increasing adoption of companion animals as well as rising government initiative towards vaccination updates are driving the growth of the global animal vaccine market.
The global animal vaccines market has been categorized into type, technology, indications, composition.
By type: static porcine vaccines, poultry vaccines, livestock vaccines, companion animal vaccines, aquaculture vaccines, and others are the segments. Livestock vaccines is also sub-segmented into bovine vaccines, and small ruminant vaccines, canine vaccines, and feline vaccines.
By technology: live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and others are the segments.
By indications: foot & mouth disease, parvovirus, distemper, reproductive & respiratory syndrome, and others are the segments.
In the current study, the segmentation of the global animal vaccination has been covered in the regions of the Americas, Europe, Asia-Pacific, and the Middle East & African. Among these, the Americas are the leaders of the market share due to the presence of significant market players, activities of rising pet adoption in developed countries such as the US and Canada. In this, according to the American Society for the Prevention of Cruelty to Animals (ASPCA), approximately 6.5 million companion animals enter the US animal shelters nationwide every year.
Europe region was positioned second in the market share in 2017, due to the rising research and development investments. In the latest, this region is also gaining a considerable amount of traction due to a vast number of pet lovers residing and their awareness towards vaccination module. In this support, in 2018, Boehringer Ingelheim announced to reinforce its leading position in the veterinary vaccine market with an investment of 70 million euro in the R&D and biological production activities.
Bayer AG, Biogenesis Bago, Boehringer Ingelheim GmbH, China Animal Husbandry, Elanco Animal Health, Hester, IDT Biologika, Indian Immunologicals Limited, Merck Animal Health, MSD Animal Health, Phibro Animal Health, Tianjin Ringpu, Vetoquinol, Zoetis Inc., and others are some of the vital players in the global animal vaccines market.
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