Animal Vaccines Market To Reach USD 26.12 Billion By 2030
Posted by Neha Bora on February 23rd, 2023
The Report Animal Vaccines Market Size, Share & Trends Analysis Report By Product (Attenuated Live Vaccines, Recombinant Vaccines), By Animal Type (Livestock, Companion), By Route Of Administration, By Region, And Segment Forecasts, 2022 - 2030
The global animal vaccines market size is expected to reach USD 26.12 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.3% from 2022 to 2030. The growing incidence of food-borne zoonotic diseases and increasing animal husbandry are boosting the demand for vaccines. Certain transmissible diseases such as bird flu and tuberculosis in invertebrate animals can be transferred directly or indirectly to humans. If consumers eat worms via undercooked fish, they can get contaminated with anisakiasis, a human zoonotic infection caused by some species of nematodes.
The increasing outbreaks of cattle disease and the ever-expanding livestock population are the prime factors for the wide acceptance of the ruminants especially cattle vaccines globally. Moreover, rising pet ownership and increasing awareness regarding the health of companion animals are propelling the market growth. Moreover, the increasing number of R&D investments initiated by the companies is one of the key growth factors. Competition in the market is expected to be high during the forecast period. The market is highly fragmented owing to the presence of several small and large players. This results in high competition among small players to sustain their position in the market.
Moreover, companies are increasingly adopting strategies, such as mergers & acquisitions, geographic expansion, and the launch of new products, to grow in the market. For instance, in December 2020, Elanco acquired exclusive global rights from Kindred Biosciences to its monoclonal antibody for Canine Parvovirus (CPV) called KIND-030. This strengthened the company’s overall vaccine and therapeutics portfolios. Moreover, in September 2020, Ceva enhanced its production capacity at its French facility for bacterial autogenous vaccines. This is expected to support its growth strategy.
Access Research Report of Animal Vaccines Market @ https://www.grandviewresearch.com/industry-analysis/veterinary-animal-vaccines-market
Animal Vaccines Market Report Highlights
List of Key Players of Animal Vaccines Market
Access Press Release of Animal Vaccines Market @ https://www.grandviewresearch.com/press-release/global-veterinary-animal-vaccines-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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