The global veterinary vaccines market is projected to be valued at US$ 9.1 Bn in 2020, and is expected to witness a CAGR of nearly 7% during the forecast period (2020–2030).
Immunization and vaccination are accepted as the most cost-effective and viable method of controlling infectious veterinary diseases. Veterinary vaccines play an important role in the reduction of diseases, in both, livestock and companion animals. Increasing awareness regarding animal health and growing demand for animal protein food products are key factors expected to augur well for the veterinary vaccines market. Veterinary vaccines are witnessing demand upsurge, globally, owing to increasing government-backed initiatives for the prevention of zoonotic diseases.
However, the coronavirus (COVID-19) pandemic has exposed the market to several uncertainties. With initial speculations blaming meat products for the transmission, the veterinary vaccines market witnessed a slowdown. That being said, further investigations have revealed that, meat consumption is not responsible for the COVID-19 contagion. As such, the veterinary vaccines market is gradually coming back on track, backed by increasing demand for animal-based products such as eggs, milk, and meat.
To Get Sample Copy of Report visit @ https://www.futuremarketinsights.com/reports/sample/REP-GB-409
Key Takeaways of Veterinary Vaccines Market Study
- Attenuated live vaccines emerged as the largest segment by product, representing around 24% revenue share in veterinary vaccines market in 2019. Attenuated live vaccines are effective and are widely preferred for the treatment of animal diseases; they are expected to exhibit significant growth over the forecast period.
- By disease, the foot & mouth disease accounted for the highest revenue in 2019. High prevalence of foot & mouth disease is anticipated to drive demand for veterinary vaccines, worldwide.
- Veterinary clinics hold over 2/5 share of the veterinary vaccines market value, owing to increasing number of veterinary clinics.
- Based on species, livestock animals account for a leading revenue share in the veterinary vaccines market, owing to higher demand for livestock vaccines for better quality of meat and processed meat export.
- Cumulatively, North America and Western Europe contribute over 58% share in the global veterinary vaccines market, with North America leading the pack in terms of revenue share.
Download PDF Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-409
Acquisition a Prominent Strategy Adopted by Veterinary Vaccine Manufacturers
The acquisition strategy helps in complementing the vaccine portfolio that adds significant value to an organization. For instance, in June 2016, Boehringer Ingelheim International GmbH signed an agreement with Sanofi’s animal-health business (Merial). In July 2018, Zoetis acquired Nexvet Biopharma. This collaboration strengthened the development platform of mAb therapies and added new alternatives to treat osteoarthritis in companion animals.
Contact Sales for Further Assistance in Purchasing this Report@ https://www.futuremarketinsights.com/checkout/409
Why Future Market Insights?
- Comprehensive analysis on evolving purchase pattern across different geographies
- Detailed insights of market segments and sub-segments for historical as well as forecast period
- A competitive analysis of prominent players and emerging players in the keyword market
- Detailed information about the product innovation, mergers and acquisitions lined up in upcoming years
Ground breaking research and market player-centric solutions for the upcoming decade according to the present market scenario
About FMI:
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Us:
Mr. Debashish Roy
Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
MARKET ACCESS DMCC Initiative
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com