Veterinary Vaccines Market To Expand At A Healthy 6.2% CAGR Through 2031 As Awareness Regarding Animal Diseases Rises

(MENAFN- EIN Presswire) WESTFORD, MA, UNITED STATES, September 4, 2024 /EINPresswire / -- Veterinary Vaccines market size was valued at USD 8.00 billion in 2022 and is poised to grow from USD 8.50 billion in 2023 to USD 13.75 billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031).

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Growing awareness regarding animal healthcare rising incidence of animal diseases are two major factors promoting the demand for veterinary vaccines. High investments in the development of novel veterinary vaccines is also estimated to help market growth over the coming years. The rapidly surging demand for animal protein around the world will also create new business scope for veterinary vaccine companies.
Veterinary vaccine companies need to focus on research and development of new vaccines to curb the spread of diseases among animals. Launch of vaccination drives and increasing awareness regarding animal diseases will also be popular strategies opted by veterinary vaccines providers in the future. Collaborating with the government could be a great strategy for established as well as new veterinary vaccine companies in the long run. Rising number of companion animals around the world and emphasis on improving livestock productivity are also estimated to promote sales of veterinary vaccines across the study period and beyond.

Top Player's Company Profiles in Veterinary Vaccines Market
.Zoetis, Inc. (US)
.Merck & Co, Inc. (US)
.Boehringer Ingelheim International GmbH (Germany)
.Elanco Animal Health (US)
.Virbac (France)
.Ceva Sante Animale (France)
.Phibro Animal Health Corporation (US)
.Hester Biosciences Limited (India)
.Neogen Corporation (US)
.HIPRA (Spain)
.Biogénesis Bagó (Argentina)
.Tianjin Ringpu Bio-Technology Co Ltd. (China)

Vaccination Drives Projected to Boost Sales of Veterinary Vaccines in Near Future
·The Brihanmumbai Municipal Corporation (BMC) of Mumbai, India conducted a rabies vaccination drive at the end of February 2024. The drive was conducted in partnership with Worldwide Veterinary Services-Mission Rabies (WVS-MR) with an aim to vaccinate 15,000 stray dogs in Mumbai, India.
·In July 2024, the Ministry of Livestock and Fisheries of Tanzania revealed its plans to launch a vaccination campaign across the country. The drive is expected to eradicate and manage all diseases that affect animals as well as humans.

Vaccination drives are the perfect way to create awareness and vaccinate a large number or animals or humans. This is why government institutions, veterinary vaccines companies, and non-profit animal welfare organizations focus on launching these drives thereby boosting sales of veterinary vaccines around the world.

The following are the key Veterinary Vaccines Trends that will shape the growth of the market in the next 5 years

Efforts to Advance Veterinary Vaccine Development Never Go Out of Style
·The University of Pennsylvania School of Veterinary Medicine in February 2024 launched a new research initiative to advance veterinary vaccine science. This move will help fast-track the R&D process for mRNA-based vaccines and therapies for animals in the future.
·Kemin Biologics announced the launch of a new vaccine in Peru to build immunity against Avian Influenza in October 2023. MEFLUVACTM H5 PLUS 8 vaccine was launched in partnership with ilender to manage the highly pathogenic threat of Avian Influenza in the Latin American region.
·A bovine coronavirus vaccine was launched in the United Kingdom back in October 2023. Merck & Co.'s animal health division called MSD Animal Health was responsible for this intranasal live bovine vaccine called Bovilis Nasalgen-C.

Segments covered in Veterinary Vaccines Market are as follows:

.Disease
oLivestock Diseases (Bovine Diseases and Small Ruminant Diseases), Poultry Diseases, Porcine Diseases, Companion Animal Disease (Canine Diseases and Feline Diseases), Aquaculture Diseases, Other
.Technology
oLive Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines and Other
.Type
oLivestock vaccines (Bovine Vaccines and Small Ruminant Vaccines), Poultry vaccines, Companion Animal vaccines (Canine Vaccines and Feline Vaccines), Porcine vaccines, Aquaculture vaccines, Other
.Route of Administration
oInjectable Vaccines, Oral Vaccines, Intranasal/Spray Vaccines
.Distribution Channel
oVeterinary Hospitals, Veterinary Clinics, and Retail Pharmacies.

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Developing and launching new veterinary vaccines will be the prime focus of almost all veterinary vaccine companies. Growing investments in R&D, availability of grants, and advancements in veterinary science are all highly crucial for the overall veterinary vaccines market growth. Efforts by multiple private and public organizations to reduce the incidence of animal diseases will also boost the demand for novel veterinary vaccines going forward.

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The global veterinary vaccines market is rife with opportunities and investing in the right part of vaccine development will be highly crucial. Companies should also focus on leveraging each other's expertise in animal health to build novel solutions and eradicate stubborn animal diseases. Growing pet ownership around the world is also expected to create new opportunities for veterinary vaccine providers in the long run.

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