Companion Animal Vaccine Market was valued at USD 7.8 billion in 2019 which is expected to reach USD 13.5 billion by 2027 at a CAGR 7.3% during this forecast period 2020-2027.
The Qualiket Research provides valuation and analysis of Global Companion Animal Vaccine Market on a global as well as regional level. The report delivers a comprehensive assessment of industry latest trends, drivers, restraints, opportunities, avenues, along with analysis of COVID-19 impact on global companion animal vaccine market over the forecast period.
Veterinary vaccines play vital role in improving the health of companion animals. They are also important for reducing viral diseases transmitted from animals to animals as well as animals to humans. These vaccines are categorized into various product types such as Attenuated Live Vaccine, Conjugate Vaccine, Inactivated Vaccine, Subunit Vaccine, Toxoid Vaccine, DNA Vaccine, and Recombinant Vaccine.
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The rise in product approval activities is the key driving factor which is expected to boost the global companion animal vaccine market growth. For instance, in May 2020, Merck & Co., Inc had launched new vaccine known as NOBIVAC Myxo-RHD PLUS vaccine which is used to decrease mortality due to common viral diseases in rabbits like myxomatosis and rabbit haemorrhagic disease (RHD). Furthermore, increase in mergers and acquisitions by key players will positively contribute the market growth. For instance, in July 2019, Elanco Animal Health Incorporated had announced acquisition or Aratana Therapeutics for development and commercialization of innovative therapeutics for dogs and cats. Moreover, rise in product launch activities is expected to fuel the global companion animal vaccine market growth. In addition to that, increase in initiatives from regulatory authorities for prevention of diseases like viral diseases in companion animal which may drive the market growth during this forecast period. For instance, as per the American Animal Hospital Association has commissioned a task force of veterinary experts for development of guidelines which will help veterinary teams to work with pet owners for treatment plans that will improve the quality of life of pets with cancer.
The Companion Animal Vaccine Market is segmented on the basis of product type, animal type, distribution channel, and region.
On the basis of product type, the global companion animal vaccine market is segmented into Conjugate Vaccine, Attenuated Live Vaccine, Inactivated Vaccine, Toxoid Vaccine, Subunit Vaccine, DNA Vaccine, and Recombinant Vaccine.
On the basis of animal type, the global companion animal vaccine market is segmented into Canine, Feline, Equine, and Others.
On the basis of distribution channel, the global companion animal vaccine market is segmented into Veterinary Hospitals, and Veterinary Research Institutes.
On the basis of region, the global companion animal vaccine market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Some key operating key players are discussed in global companion animal vaccine market report are Boehringer Ingelheim GmbH, Merck & Co., Inc, Elanco, Ceva, , Virbac, Zoetis Inc, Animal Health Incorporated, Biogénesis Bagó, Ourofino Animal Health,and HIPRA.
- The Qualiket Research study provides a detailed analysis of drivers and factors that limit the market expansion.
- Comprehensive and quantitative data about changing market trends, competition and opportunities in companion animal vaccine market are covered in the report.
- The Qualiket Research delivers deep dive analysis of leading market players and their key strategies, helps in better understanding the global companion animal vaccine market dynamics.
The North America is expected to hold the largest market share during this forecast period due to rise in incidence of canine disorders and adoption of vaccination for the prevention of such disorders. Also, the increase in population of animals in United State is anticipated to boost the global companion animal vaccine market growth. Further, Europe is the second-largest revenue contributor for the companion animal vaccine market over the forecast period.
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