Global Veterinary Vaccines Market to Reach $21.5 Billion by 2028, Driven by Rising Demand for Animal Immunization


Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The "Veterinary Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global veterinary vaccines market, with a market size of US$12.4 billion in 2022, is poised for significant growth, with an anticipated market size of US$21.5 billion by 2028. This growth is expected to be characterized by a robust compound annual growth rate (CAGR) of 9.3% during the forecast period spanning from 2023 to 2028.

Market Overview:

Veterinary vaccines are bio-prepared immunizations administered to domestic and wild animals through parenteral and oral routes to stimulate protective immune responses without causing the diseases themselves. These vaccines play a crucial role in reducing animal suffering, enhancing immune efficiency, and preventing the development and transmission of various contagious zoonotic diseases. They are cost-effective, reliable, and offer long-term prevention, making them essential for both companion and livestock animals worldwide.

Market Trends and Drivers:

Several key factors are driving the growth of the global veterinary vaccines market:

  1. Rising Demand for Effective Immunization: Increasing demand for effective immunization products, especially with the domestication of companion and livestock animals, is a key driver.
  2. Prevalence of Infectious Epizootic Disorders: The rising prevalence of infectious epizootic disorders is leading to greater demand for vaccines to protect animal health.
  3. Government Investments: Governments are investing significantly in the pharmaceutical sector to enhance veterinary vaccine manufacturing procedures.
  4. Innovation in Vaccine Technology: The introduction of DNA and RNA vaccines with improved stability, efficacy, and administration approaches is contributing to market growth.
  5. Needle-Free Vaccine Injections: Innovative intramuscular needle-free vaccine injections are gaining popularity due to their enhanced safety and less painful administration.
  6. Protection of Livestock-Based Products: Veterinary vaccines are needed to prevent disease transmission from livestock-based products like milk, meat, and eggs.
  7. Healthcare Infrastructure Improvement: Improvements in healthcare infrastructure and ongoing R&D activities are fueling market growth.

Market Segmentation:

The veterinary vaccines market is segmented based on various factors:

By Vaccine Type:

  • Livestock Vaccines
    • Bovine Vaccines
    • Poultry Vaccines
    • Porcine Vaccines
    • Others
  • Companion Animal Vaccines
    • Canine Vaccines
    • Feline Vaccines
    • Equine Vaccines

By Technology:

  • Attenuated Live Vaccines
  • Inactivated Vaccines
  • Toxoid Vaccines
  • Recombinant Vaccines
  • Others

By Route of Administration:

  • Subcutaneous
  • Intramuscular
  • Intranasal

By Distribution Channel:

  • Veterinary Hospitals
  • Veterinary Clinics
  • Pharmacies and Drug Stores
  • Others

By Region:

  • North America
    • United States
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Competitive Landscape:

Key players in the global veterinary vaccines market include Boehringer Ingelheim International GmbH, Ceva Sante Animale, Elanco Animal Health Incorporated, Hester Biosciences Limited, HIPRA, Indian Immunologicals Limited, Merck & Co. Inc., Neogen Corporation, Phibro Animal Health Corporation, Virbac SA, Zoetis Inc., and others.

Key Attributes:

Report AttributeDetails
No. of Pages139
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$12.4 Billion
Forecasted Market Value (USD) by 2028$21.5 Billion
Compound Annual Growth Rate9.6%
Regions CoveredGlobal

For more information about this report visit https://www.researchandmarkets.com/r/k68rrf

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Attachment

 
Global Veterinary Vaccines Market

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