Latest Report: Trends and Top Medical analysis of Global Veterinary Vaccines Market Forecast to 2021
The veterinary vaccines market has seen significant growth over the past few years, due to fear of imminent epidemics that have led to substantial losses particularly in poultry segment. The global animal vaccines market is poised to reach $8,871 million by 2021 from $6,468.6 million in 2016, at a CAGR of 52% from 2016 to 2021.
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Veterinary vaccine market has shown significant growth in recent years which can be attributed to increasing husbandry practices and better management of farms. This marks the estimation of further growth in the market due to advancement in biotechnological research. The global veterinary vaccines market has undergone considerable progress during the past few years with the growing usage of continuous cell lines as a substrate and embracing of the fermenter technology for antigen production. These vaccines are produced for administration by parenteral or oral routes depending on the vaccine characteristics.
Growing prevalence of animal diseases, rising incidences of zoonotic diseases in humans; increasing investments by leading players, various government agencies and animal associations; continuous innovations and cross border colloborations are driving the growth of veterinary vaccines. However, rising maintenance costs for the storage of vaccines, less attractive returns, flaws in services across rural communities and scarcity of resources are hindering its growth.
The global veterinary vaccines market has been categorized as livestock and companion vaccines. The livestock vaccines segment has been further segmented into five categories namely, bovine, porcine, ovine, poultry and equine. The companion animal vaccines segment has also been further categorized into feline and canine vaccines. In addition, based on production technologies the market is segmented as live attenuated vaccines, inactivated vaccines, toxoid vaccines, subunit vaccines, DNA vaccines and conjugate vaccines. The canine vaccines segment accounted for a slightly larger share (in terms of revenue) than the feline vaccines segment, due to higher average cost allied with canine vaccination. Similarly, the bovine vaccines sub-segment accounted for the largest share (in terms of revenue), followed by porcine and poultry.
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Furthermore, based on geography the global market is analysed under various regions namely, North America, Europe, Asia Pacific, Latin America and Middle-East & Africa. European region is leading the veterinary vaccine market in terms of consumption, followed by the U.S. These two regions together account for more than two-thirds of the global veterinary vaccine market revenue.
Some of the key players influencing the market are MSD Animal Health, Boehringer Ingelheim GmbH, Zoetis, Merial S.A.S, Elanco Animal Health, Ceva Sante Animale S.A, Hester Biosciences Ltd., Heska Corporation, Onderstepoort Biological Products(OBP) Ltd. And Virbac.
2 North America Veterinary Vaccines Market
2.2 North America Veterinary Vaccines Market, By Country
2.3 North America Veterinary Vaccines Market, By Type
2.4 North America Veterinary Vaccines Market, By Technology
3 Europe Veterinary Vaccines Market
3.2 Europe Veterinary Vaccines Market, By Country
3.3 Europe Veterinary Vaccines Market, By Type
3.4 Europe Veterinary Vaccines Market, By Technology
4 Asia-Pacific Veterinary Vaccines Market
4.2 Asia-Pacific Veterinary Vaccines Market, By Country
4.3 Asia-Pacific Veterinary Vaccines Market, By Type
4.4 Asia-Pacific Veterinary Vaccines Market, By Technology
5 Latin America Veterinary Vaccines Market
5.2 Latin America Veterinary Vaccines Market, By Country
5.3 Latin America Veterinary Vaccines Market, By Type
5.4 Latin America Veterinary Vaccines Market, By Technology
6 Middle-East & Africa Veterinary Vaccines Market
2 MEA Veterinary Vaccines Market, By Region
3 MEA Veterinary Vaccines Market, By Type
4 MEA Veterinary Vaccines Market, By Technology
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