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

• Based on product, attenuated live vaccines emerged as the largest segment in 2021 as a result of the benefits such as improved effectiveness and enhanced long-term prevention. The recombinant vaccine is expected to witness considerable growth during the forecast period. These vaccine formulations can avoid the need for adjuvants, increase the viability of the vaccine, and improve stability
• The livestock animal type segment dominated the market in 2021. According to Elsevier, Inc., as of February 2020, in Bangladesh, the prevalence of foot and mouth diseases in cattle was 24.71%
• By route of administration, the intranasal segment is expected to register the fastest growth rate of 10.0% over the projected period owing to its growing popularity
• North America dominated the market in 2021. Constantly rising awareness regarding livestock health and increasing commercialization of livestock products are factors expected to drive the market in the region during the forecast period
• In Asia Pacific, the market is projected to witness swift growth during the forecast period owing to the speedy adoption of animal vaccines for quality food products and better animal health
• Market players are opting for numerous strategies such as partnerships and new product launches. For instance, in October 2021, CZ VACCINES launched a new conjunctival vaccine called B19 CZV Ocular, thus adding a new vaccine to its range of brucellosis vaccines

List of Key Players of Animal Vaccines Market

• Merck & Co., Inc.
• Zoetis
• Boehringer Ingelheim International GmbH
• Virbac
• Biogénesis Bagó
• Indian Immunologicals Ltd.
• Elanco
• Ceva
• Phibro Animal Health Corporation
• Neogen Corporation
• Intas Pharmaceuticals Ltd.
• Ourofino Saúde Animal

Access Press Release of Animal Vaccines Market @ https://www.grandviewresearch.com/press-release/global-veterinary-animal-vaccines-market