Date: Mar 2022
Animal Vaccines Market worth USD 14.3 billion by 2030
The Market Statsville Group (MSG) publishes the new report on the "Animal Vaccines Market by Product (Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, Recombinant Vaccines, and DNA Vaccines), by Animal Type (Companion Animal (Dogs and Cats), Livestock Animal (Cattle, Pigs, Poultry, Sheep, Others), and Aquaculture), by Region – Global Share and Forecast to 2030".
The global animal vaccines market size is projected to grow at a CAGR of 14.3% to reach USD 14.3 billion by 2030 from USD 9.5 billion. Surge in pet ownership across the globe has notably impacted the growth of the global animal vaccines market. In addition, companion animals have a significant role to play in enhancing quality life by asserting a positive impact on human health, which improves their physical well-being. Most families consider pets as their members; thus, a substantial rise has been observed in pet ownership in many regions worldwide. Likewise, according to the European Pet Food Industry Federation (FEDIAF), at least one pet animal was owned in an estimated 85 million European households in 2019.
Scope of Global Animal Vaccines Market
The overall animal vaccines market has been segmented into the product, animal type, and region.
By Product Outlook (Sales, USD Billion, 2017-2030)
- Attenuated Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Toxoid Vaccines
- Conjugate Vaccines
- Recombinant Vaccines
- DNA Vaccines
By Animal Type Outlook (Sales, USD Billion, 2017-2030)
- Companion animal
- Dogs
- Cats
- Livestock animal
- Cattle
- Pigs
- Poultry
- Sheep
- Others
- Aquaculture
By Region Outlook (Sales, USD Billion, 2017-2030)
- North America
- South America
- Europe
- Asia Pacific
- The Middle East & Africa
Livestock Animal, by animal type, is estimated to hold the largest market
Based on animal type, the global market is segmented into companion animal, livestock animal, and aquaculture. The livestock animal segment generated the highest revenue of 61.5% of the global animal vaccines market in 2021, and it is expected to register a significant CAGR from 2022 to 2030. Livestock animals are farm animals that owners usually raise for-profit purposes. For instance, these animals are raised under facilities where they can be provided with all their needs and requirements. They help produce commodities such as meat, eggs, milk, fur, leather, and wool. Livestock vaccination is performed to safeguard the animals from numerous infections and treat various medical conditions. Livestock animals mainly include cattle, pigs, poultry, sheep, and others. Major factors that contribute toward the growth of the segment include an increase in the prevalence of various infectious diseases among livestock animals and a surge in awareness related to the importance of immunization.
North America accounts for the largest market share in 2021
The animal vaccines market is studied across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America Asia Pacific hold the largest market share of 37.9% in the global animal vaccines market. North America is studied across three major countries, namely, the U.S., Canada, and Mexico. The animal vaccines market witnessed strong growth in North America, and the region is expected to dominate the market in the coming years.
Aside from the common drivers of this market, including the increased use of vaccines in companion animals, there are various other reasons that contribute to market growth. CDC (Centers for Disease Control and Prevention) have stated a few regulations regarding animal entry in North America, especially cats. At ports of entry, pet cats must be examined to ensure that they are free of infectious diseases, particularly zoonotic diseases. Before entering any state in North America, pet cats must be vaccinated against rabies, as many states require proof of vaccination. In North America, such regulations make vaccination mandatory, fueling the market's growth.
This research report includes a study on the development, marketing strategies, product portfolios, and winning strategies of the leading companies operating in the animal vaccines market. It also consists of the profiles of leading companies such as Ceva Santé Animale, Sanofi S.A., Romvac, Zoetis Inc., Merck & Co., Inc., Vaxxinova, Boehringer Ingelheim GmbH, Biovac, Nexvet, PHL Associates, Inc., Hygieia Biological Laboratories, Colorado Serum Company, Merial, Anicon Labor GmbH, Pfizer, and Arko Laboratories, Ltd. These market players have focused on acquisitions and expansion to gain a larger market share in the animal vaccines market.
Browse complete report: https://www.marketstatsville.com/animal-vaccines-market
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