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The latest report published by IMARC Group, titled“ Animal Vaccine Market: Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”, offers a comprehensive analysis of the industry, which comprises insights on
animal vaccine market
analysis . The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global animal vaccine market size reached US$ 13.4 Billion in 2023. Looking forward, IMARC Group expects the
market to reach US$ 25.1 Billion by 2032, exhibiting a growth rate (CAGR) of 7.24% during 2024-2032.
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Factors Affecting the Growth of the Animal Vaccine Industry:
Technological Advancements in Vaccine Development:
Technological advancements have played a pivotal role in the growth of the animal vaccine industry. Over the years, there has been a significant shift towards more precise and efficient vaccine development processes. This has been achieved through the use of modern biotechnological tools such as recombinant DNA technology and genomics. These tools have allowed researchers to understand the genetic makeup of pathogens and develop vaccines that are highly specific and effective. Additionally, advancements in vaccine formulation and delivery methods have improved the overall efficacy of animal vaccines. These innovations include the development of novel adjuvants, delivery systems, and vaccine platforms that enhance the immune response in animals. As a result, vaccines can provide longer-lasting protection with fewer doses, reducing the overall cost and effort required for vaccination campaigns.
Increasing Awareness of Animal Health:
Another significant factor contributing to the growth of the animal vaccine industry is the increasing awareness of the importance of animal health. Livestock and companion animals are valuable assets, and their well-being is essential for various industries, including agriculture and pet care. Concerns about disease outbreaks that can impact animal populations and food production have led to greater emphasis on preventive measures, including vaccination. Farmers, veterinarians, and pet owners are now more informed about the benefits of vaccines in preventing diseases in animals. This heightened awareness has led to higher demand for vaccines, driving growth in the industry. Moreover, regulatory bodies have implemented stringent guidelines for animal health and vaccination, further underscoring the necessity of vaccines in modern animal husbandry and pet care.
Global Expansion of Animal Agriculture and Pet Ownership:
The global expansion of animal agriculture and the increasing prevalence of pet ownership have created a substantial market for animal vaccines. As the world's population continues to grow, so does the demand for animal-based products such as meat, milk, and eggs. This expansion of livestock production increases the risk of disease transmission within animal populations. Consequently, there is a growing need for vaccines to safeguard animal health and ensure the sustainability of food production. Furthermore, the pet care industry has seen remarkable growth, with more families adopting companion animals. This has resulted in a surge in the demand for vaccines to protect pets from a wide range of diseases. The increased global adoption of pets and the rising standards of animal care have contributed significantly to the expansion of the animal vaccine market.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
H. Boehringer Sohn AG & Co. KG Ceva Sante Animale Elanco Animal Health Incorporated (Eli Lilly and Company) Hester Biosciences Limited Hipra S.A. Hygieia Biological Laboratories Merck & Co. Inc. Phibro Animal Health Corporation Vaxxinova GmbH (EW Group) Virbae Zoetis Services LLC
Animal Vaccine Market Report Segmentation:
By Type:
Attenuated vaccines Inactivated vaccines Subunit vaccines Toxoid vaccines Conjugate vaccines Recombinant vaccines DNA vaccines Type
Attenuated vaccines are a widely adopted type in the animal vaccine market due to their efficacy in providing long-lasting immunity with a single dose, making them the preferred choice among veterinarians and animal producers.
By Animal Type:
Companion animal Livestock animal Cattle Pigs Poultry Sheep Others
Aquaculture
Livestock animals, including cattle, swine, and poultry, make up a significant portion of the animal vaccine market as they are susceptible to various diseases that can impact both animal health and the profitability of the livestock industry.
By Route Administration:
Subcutaneous Intramuscular Intranasal Others
Subcutaneous administration is favored in the animal vaccine market because it offers a convenient and effective method of vaccine delivery, ensuring that vaccines are properly absorbed and provide the desired immune response in animals.
By Region:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America's dominance in the animal vaccine market is attributed to its well-established veterinary infrastructure, stringent regulations promoting animal health, and a high level of awareness among animal owners, leading to robust demand for vaccines in the region.
Global Animal Vaccine Market Trends:
The global market is primarily driven by the rising awareness of zoonotic diseases, which can be transmitted from animals to humans. It has highlighted the importance of animal vaccination in maintaining public health. Additionally, the rising pet ownership and increased spending on pet healthcare have led to substantial growth in the companion animal vaccine market, further driving the market growth.
Moreover, the rising number of consumers are becoming increasingly conscious of the food they consume, including the health and welfare of the animals in the production process has led to a demand for responsibly sourced and disease-free animal products, further propelling the market growth. Furthermore, the rapid expansion of the animal vaccine market into emerging economies with rapidly growing livestock and pet populations presents significant growth opportunities for businesses.
Key highlights of the report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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