August 29, 2019
Global animal vaccines market is anticipated to cross US $9 billion by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
Growing awareness regarding the benefits of animal protein consumption is leading to increased animal farming. Moreover, people are adopting pets for companionship. These factors raise the concern for animal health, thereby stimulating the demand for animal vaccines. Other factors attributing towards the market growth are the need to safeguard animals against diseases, along with new technological advancements in animal vaccines and delivery methods.
Considering animal type, animal vaccines market from farm animal segment is expected to amass US $6509.6 million by the year 2025, owing to increasing awareness regarding animal health and food safety. Increasing demand for animal protein and risk-free food is further propelling industry landscape.
Based on the type of technology, toxoid animal vaccines market is presumed to register a CAGR of 4.8% over the forecast period. Rapid adoption of toxoid vaccine is attributed to its efficacy, safety, and numerous other advantages.
On the basis of infection, viral vaccines segment dominated the animal vaccines market with a valuation of US $3792.4 million in 2018, owing to increasing instances of viral infections such as influenza and Newcastle’s disease among the farm animals.
In terms of route of administration, injection vaccines market is projected to grow with 4.3% CAGR over the forecast period. When administered through injection vaccines enable quick and enhanced onset of immunity. The high prevalence of zoonotic diseases will fuel the segmental growth in the ensuing years.
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Speaking of the regional contribution, Germany vaccines market is predicted to accrue US $432.6 million by the year 2025, pertaining to the high demand for animal protein in the region. Government and private organizations are jointly developing new vaccines to counter the infestation of zoonotic infections among animals.
On the other hand, animal vaccines market in Japan is anticipated to grow at a rapid pace depicting a CAGR of 10% over the forecast timeline, owing to the mandatory vaccination for swine, cattle, and poultry animals. Japan is a top consumer of meat products and hence animal farming is a common practice in the region.
The key players operating in the animal vaccines market include Ceva Sante Animale, Durvet, Inc., Hipra Animal Health Limited, Boehringer Ingelheim Animal Health, Elanco, Merck Animal Health, Dechra Pharmaceuticals, Neogen Corporation, Henry Schein Animal Health, and Zoetis among others.