Veterinary vaccines are biological compounds designed to trigger immune responses in animals, safeguarding them against particular infectious ailments. They are crucial in curtailing disease transmission among animal groups such as pets, livestock, and wildlife, usually comprising antigens sourced from pathogens. As of 2022, the global market for veterinary vaccines was estimated at $9.44 billion. Projections suggest an anticipated expansion with a CAGR of 7.30% from 2023 to 2033, with an estimated value of $19.86 billion by 2033.
Veterinary Vaccine Market Analysis: Drivers, Challenges and Opportunities <H2>
The growth of the worldwide veterinary vaccine market is propelled by factors such as the expanding animal population and growing recognition of the advantages of vaccination, ensuring the well-being of diverse animal populations. Nonetheless, the elevated veterinary vaccine research and development costs hinder accessibility and affordability. Technological progressions such as genetic engineering present opportunities for improving vaccine effectiveness, safety, and convenience, indicating potential growth in the veterinary vaccine sector.
BIS Research, a leading market research firm, has released a report titled- Veterinary Vaccine Market, which discusses the challenges, growth factors, and future opportunities driving the market's remarkable growth. The detailed study is a compilation of market data tables and figures spread across several pages.
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Segmentation 1: by Type
• Livestock Vaccines
o Bovine Vaccines
o Small Ruminant Vaccines
• Porcine Vaccines
• Poultry Vaccines
• Companion Animal Vaccines
o Canine Vaccines
o Feline Vaccines
o Equine Vaccines
• Aquaculture Vaccines
Segmentation 2: by Disease
• African Swine Fever
• Foot and Mouth Disease
• Newcastle Disease
• Avian Influenza (Bird Flu)
• Peste des Petits Ruminants
• Other Diseases
Segmentation 3: by Technology
• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Recombinant Vaccines
• Conjugate Vaccines
• Other Vaccines
Segmentation 4: by Route of Administration
• Injectable Vaccines
• Oral Vaccines
• Intranasal/Spray Vaccines
Segmentation 5: by Distribution Channel
• Veterinary Hospitals and Clinics
• Retail Pharmacies
• Veterinary Research Institutes
Segmentation 6: by Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
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Overview: The global veterinary vaccine market is segmented by type, disease, technology, route of administration, distribution channel, and region. Livestock vaccines dominated the market by type in FY2022, emphasizing their crucial role in protecting livestock health and productivity. Avian influenza (bird flu) led the market by disease due to its significant impact on poultry and the need for effective prevention. Inactivated vaccines were the dominant technology, offering safe and effective immune stimulation. Injectable vaccines are led by route of administration, highlighting their practicality and effectiveness. Veterinary hospitals and clinics were the dominant distribution channel, reflecting trust in professional care. North America held the largest market value in 2022 and is expected to continue leading during the forecast period.
• Boehringer Ingelheim International GmbH
• Ceva Santé Animale
• Elanco Animal Health Incorporated
• Merck & Co., Inc. (Merck Animal Health)
• Zoetis, Inc.
• Phibro Animal Health Corporation
• Virbac
The Veterinary Vaccine Market report offers unique selling points (USPs), such as an in-depth competitive analysis of 7 major players, providing a comprehensive overview of the veterinary vaccine market. It examines the market's economic influence and highlights notable end-user industry advancements. The report conducts a thorough supply chain and pricing analysis. It also delves into the investment landscape, assessing product adoption trends and patents. These features make the report valuable for understanding the market's dynamics and opportunities.
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BIS principal analyst suggests: Advancements in vaccine technology, increasing awareness of preventive healthcare, and identifying emerging infectious diseases in animals drive trends in the veterinary vaccine market. Customized vaccines for regional challenges and companion animal health needs reflect industry responses to evolving demands and opportunities.
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