The Insight Partners Latest Research on “Veterinary Vaccines Market Forecast to 2028″ – COVID-19 Impact and Global Analysis By Vaccine Type [Livestock Vaccines (Bovine Vaccines and Small Ruminant Vaccines) and Companion Animal Vaccines (Feline Vaccines, Canine Vaccines, and Others)] and Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines, and Others)
“Veterinary Vaccines Market is projected to reach US$ 15,536.38 million by 2028 from US$ 9,984.65 million in 2021; it is estimated to register a CAGR of 6.5% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.
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The key factors that are driving growth of the market are increasing incidence of zoonotic diseases and rising prevalence foodborne diseases and infections propel the market growth. However, strict government rules related to the usage of veterinary vaccines hamper the growth of the market.
The Veterinary Vaccines market majorly consists of the players such as companies such Boehringer Ingelheim International GmbH, Zoetis Inc., Merck & Co., Inc., Virbac, BIOVAC, NEOGEN Corporation, Elanco, HIPRA, Ceva, and Hester Biosciences Limited among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Whereas the inorganic strategies such as mergers & acquisitions, partnership, collaborations, were widely seen in the Veterinary Vaccines market.
Several in organic approaches, such as product launches, and expansion in the Veterinary Vaccines market, have resulted in the positive growth of the market. Likewise, inorganic strategies such as mergers & acquisitions, and collaboration have help the company to strengthen its revenue, which allows the company to hold a strong position in the market.
Below is the list of the growth strategies done by the players operating in the Veterinary Vaccines market:
Oct-21: Boehringer Ingelheim invested about 100 million EUR in its veterinary public health capabilities in Lyon-Jonage, France, to support governments and public health organizations in managing anticipated emerging and transboundary diseases
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Jul-21: Boehringer Ingelheim launched FreVAX smartphone app – the 2.0 version for management of its FreVAX intramuscular needle-free device
The global veterinary vaccines market, based on vaccine type, is segmented into livestock vaccines, companion animal vaccines, and others. The livestock vaccines segment is likely to hold the largest market share in 2021. However, the companion animal segment is anticipated to register the highest CAGR of 7.0% during the forecast period.
The global veterinary vaccines market, based on technology, is segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, conjugate vaccines, and others. In 2021, the live attenuated vaccines segment is likely to hold the largest market share. However, the inactivated vaccines segment is expected to grow at the highest CAGR from 2021 to 2028.
Geographically, the veterinary vaccines market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South and Central America (Brazil, Argentina, and the Rest of SCAM).
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