European Animal Vaccine Market: Industry Growth, Size, Share and Forecast 2019-
Posted by OMR Global on February 3rd, 2020
European animal vaccine market is estimated to grow at a CAGR of around 5.9% during the forecast period. Due to increasing dependency on non-vegetarian foods such as meat, chicken, pork, and others, Europe is considered to be a significant market for animal husbandry. Transforming agriculture practices and growing reliability on limited crops is augmenting the demand for non-vegetarian food. Therefore, vaccination plays a critical role in maintaining animal health. Veterinary education plays a critical role in curbing animal disease.
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With the growing number of TAD (Transboundary Animal Diseases) among the livestock, veterinary establishments have been reported an increase in the European countries. Thus, with the increased TAD, the region is continuously increasing the vaccines for animal welfare purpose. According to World Organization for Animal Health, European countries has reported a total of 145 VEE (Veterinary Education Establishments) in 2017, which generates the substantial need for animal vaccines and as a result, the region contributes a significant share in the global animal vaccine market.
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Some crucial players in the European animal vaccine market include Zoetis, Inc., Bayer AG, Boehringer Ingelheim International GmbH, Merck & Co., Inc., Novartis International AG and Vetoquinol S.A. In order to survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in November 2018, Merck & Co., Inc. expanded their warehousing, manufacturing and packaging facility in Milton Keynes, UK site, for filling and blending of poultry vaccines. This expansion would support to leverage the company’s position in the Animal Health market.
European Animal Vaccine Market Segmentation
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