Rising number of zoonotic diseases, government initiatives regarding animal health awareness, and increasing incidences of livestock diseases are some key factors expected to drive market growth
According to Emergen Research, the global veterinary vaccines market size was USD 7.73 Billion in 2019 and is expected to reach USD 12.75 Billion by 2027 and register a revenue CAGR of 6.9% during the forecast period, 2020-2027.
Veterinary vaccinations have played a significant role in safeguarding animal and human health, minimizing animal suffering, enabling efficient food animal production to support the growing human population, and considerably reducing the demand for antibiotics to treat companion animals. Foodborne diseases (FBDs) are a serious public health concern worldwide because they are linked to high mortality and morbidity in humans. Vaccination against zoonotic or foodborne illnesses aims to reduce or eliminate consumer risk while also improving the production of the individual animal in some circumstances.
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Governments and organizations working on animal health have been implementing positive measures that promote animal adoption and animal health awareness in light of increasing occurrences of animal fatalities due to chronic diseases. In addition, increase in research and development activities to develop effective vaccines, rise in animal husbandry initiatives and growing importance of veterinary healthcare are some factors expected to contribute market revenue growth over the forecast period. However, growing popularity of vegan food, and high investments on research activities are some factors expected to restrain market growth to a certain extent over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Poultry Segment Revenue to Expand at a Rapid CAGR:
Poultry segment is expected to register a rapid revenue CAGR over the forecast period attributed growing emphasis on animal welfare management solutions and increasing demand for risk free pet food. Furthermore, increasing private investments in poultry segment due to the high consumption of poultry products on a daily basis globally is expected to further boost revenue growth of the poultry segment.
Injection Segment to Register Significant Revenue Growth:
Injection segment is expected to register significant revenue growth over the forecast period due to increasing awareness regarding the safety of animals among people and injections being an integral part of routine animal health checkup. Injection vaccines are critical for preventing and controlling the spread of infectious diseases in agricultural animals and cattle.
North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to rising prevalence of livestock diseases, high R&D investments in vaccines, and increasing demographic of pets in the U.S. In addition, well-established pharmaceutical firms that are constantly working to increase the commercialization of their vaccines and presence of key players are some other factors expected to contribute to market growth in the region.
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Major Companies in the Market Include:
- Zoetis Inc.
- Bayer AG
- Virbac SA
- Merck KGaA
- Eli Lilly and Company
- Phibro Animal Health Corporation
- Elanco Animal Health Incorporated
- Aptimmune Biologics Inc.
- Dechra Pharmaceuticals PLC
- Laboratorios HIPRA, S.A
For the purpose of this report, Emergen Research has segmented the global veterinary vaccines market based on type, administration path, technology, infection, and region:
Type Outlook (Revenue, USD Billion; 2017–2027)
Administration Path Outlook (Revenue, USD Billion; 2017–2027)
Technology Outlook (Revenue, USD Billion; 2017–2027)
- Live Attenuated
Infection Outlook (Revenue, USD Billion; 2017–2027)
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Regional Outlook (Revenue, USD Billion; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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