Global Veterinary Vaccines Market by Type (Livestock Vaccines and Companion Vaccines), by Technology (live attenuated vaccines, inactivated vaccines, recombinant vaccines, toxoid vaccines, subunit vaccines, DNA vaccines and conjugate vaccines), and by Region - Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2016–2021)
According to the report Global Veterinary Vaccines market, published by Market Data Forecast, The Global market has been estimated at USD 5507.3 Million in 2015 and is projected to reach USD 7197.82 Million by 2020, at a CAGR of 5.5% during the forecast period from 2015 to 2020. The Global veterinary vaccines market has seen significant growth over the past few years, due to fear of imminent epidemics that have led to substantial losses particularly in poultry segment.
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Veterinary vaccine market has shown significant growth in recent years which can be attributed to increasing husbandry practices and better management of farms. This marks the estimation of further growth in the market due to advancement in biotechnological research.
The global veterinary vaccines market has undergone considerable progress during the past few years with the growing usage of continuous cell lines as a substrate and embracing of the fermenter technology for antigen production. These vaccines are produced for administration by parenteral or oral routes depending on the vaccine characteristics.
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Growing prevalence of animal diseases, rising incidences of zoonotic diseases in humans; increasing investments by leading players, various government agencies and animal associations; continuous innovations, increasing awareness against the use of antimicrobials is driving the vaccine producers to invest significantly into development of new products. However, rising maintenance costs for the storage of vaccines, increasing adoption of vegetarian diet in major economies owing to increasing risk of obesity and other chronic diseases are key restraints of this market.
Global Veterinary Vaccines Market: Segmentation
- Livestock vaccines
- Companion vaccines
- Live attenuated vaccines
- Inactivated vaccines
- Recombinant vaccines
- Toxoid vaccines
- Subunit vaccines
- DNA vaccines
- Conjugate vaccines
- North America
- Asia pacific
- Middle East and Africa
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Furthermore, based on geography the global market is analysed under various regions namely, North America, Europe, Asia Pacific, Latin America and Middle-East & Africa. European region is leading the veterinary vaccine market in terms of consumption, followed by the U.S.
These two regions together account for more than 70% of the global veterinary vaccine market revenue.
Some of the key players influencing the market are Bayer HealthCare AG, Bioniche Animal Health Canada, Sanofi Animal Health, Inc., Biogenesis Bago SA, Heska Corporation, Indian Immunologicals Ltd., Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Heath, Inc., Merck & Co. Inc, and Protein Sciences.
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