Global Veterinary/Animal Vaccines Market: Overview
Veterinary vaccines result in rising in immunity of animals by enhancing animal health, which circumvents the spread of diseases to humans from animals. Veterinary vaccines can be administered through the skin (subcutaneously) or into the muscle (intramuscularly) to the animal. The endeavor of veterinary vaccines is to enhance livestock production in a cost-effective way. Thus, the growing demand for veterinary vaccines is projected to augment the market growth in the near future.
Global Veterinary/Animal Vaccines Market: Growth Factors
The several factors contributing to the growth of the veterinary/animal vaccines market globally include the increasing occurrence of zoonotic diseases in humans, rising prevalence of animal diseases, constant innovations & production of new veterinary vaccines, and growing expenditures by numerous government agencies, leading players, & animal associations. In addition, the advancement in technologies such as DNA vaccines, rising alertness regarding animal health in emerging economies, rising spending opportunities in immature and emerging markets are few other factors propelling the growth of the global market. However, the increasing maintenance prices for storage of vaccines, growing implementation of vegetarian food in main economies due to the intensifying risk of obesity and other several chronic disorders, constant economic slowdown are few factors that may restrict the growth of the global veterinary/animal vaccines market.
Global Veterinary/Animal Vaccines Market: Segmentation
The global veterinary/animal vaccines market can be segmented based on technology, disease, product, and region. The technology segment of the market is categorized into live attenuated vaccines, recombinant vaccines, conjugate vaccines, toxoid vaccines, inactivated vaccines, DNA vaccines, and subunit vaccines. The DNA vaccine segment of the market is assumed to grow at the significant rate due to the technological advancements and rising public alertness about animal vaccination. The disease segment of the market is grouped into companion animal disease, aquaculture diseases, poultry diseases, livestock diseases, and other diseases. The companion animal vaccines segment of the market is expected to grow at a faster rate owing to the growing incidence of zoonotic diseases in humans and the rising pet population. The product segment of the veterinary/animal vaccines market is classified into porcine vaccines, equine vaccines, companion animal vaccines, aquaculture vaccines, livestock vaccines, poultry vaccines, and other animal vaccines. Geographically, the veterinary/animal vaccines market is categorized into Europe, North America, Asia-Pacific, Latin America, and the Middle East & Africa.
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Global Veterinary/Animal Vaccines Market: Regional Analysis
North America and Europe are anticipated to dominate the market veterinary/animal vaccines in the coming period owing to the rising pet ownership and the huge need for dairy products.
Global Veterinary/Animal Vaccines Market: Competitive Players
The prominent players in the global veterinary/animal vaccines market are Bioniche Animal Health, Boehringer Ingelheim, Merial, Ceva, and Bayer Healthcare. The other major players influencing the market are Heska Co., Merck Animal Health, Elcano Animal Health, Virbac, and Zoetis.