Increase in the incidence of animal diseases, rise in ownership of companion animal, upsurge in demand for pet insurance, and mounting animal health expenditure fuel the growth of the global animal vaccines market. The companion animal segment would showcase the fastest CAGR of 6.4% during the study period. On the other hand, the region across North America is expected to maintain its dominance till 2025.
According to the report published by Allied Market Research, the global animal vaccines market was estimated at $8.05 billion in 2017 and is expected to hit at $12.84 billion by 2025, registering a CAGR of 5.9% from 2018 to 2025. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
Rise in the incidence of animal diseases, increase in ownership of companion animal, surge in demand for pet insurance, and mounting animal health expenditure thrust the growth of the global animal vaccines market. On the other hand, highly competitive meat & milk prices and unfavorable impact of veterinary vaccines on animal & human health restrict the growth to certain extent. However, rapid advancement in vaccine products and increased demand for hybrid animals worldwide are expected to create an array of opportunities for the key players in the industry.
The attenuated vaccines segment is to lead the trail by 2025-
Based on product type, the attenuated vaccines segment is anticipated to dominate during the study period and hold one-third of the total market share by 2025. The DNA vaccines segment, on the other hand, is projected to grow at the fastest CAGR of 7.8% throughout the estimated period.
The companion animal segment to register the fastest CAGR-
Based on animal type, the cattle segment is predicted to account for more than one-third of the total market revenue in 2025. At the same time, the companion animal segment would cite the fastest CAGR of 6.4% during the forecast period.
North America to rule the roost in terms of revenue-
Based on geography, North America held the major share in 2017, generating nearly one-third of the global market. Simultaneously, Asia-Pacific is expected to showcase the fastest CAGR of 6.5% throughout 2018–2025.
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Leading market players-
The key market players analyzed in the global animal vaccines market include Zoetis Inc., Romvac, Ceva Sant Animale, Sanofi S.A., Vaxxinova, Merck & Co., Inc., Biovac, Merial, and Anicon Labor GmbH. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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