Veterinary Vaccines Market is Poised to Grow at CAGR of 6.2% by 2031 | SkyQuest
Westford, USA, Aug. 23, 2024 (GLOBE NEWSWIRE) — Global 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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The increasing cases of zoonotic diseases are predicted to increase demand for animal vaccines, as they affect animal health and human health, besides posing a threat to food security. More massive human and animal populations living close to each other tend to tip the natural environment out of balance and raise the level of worldwide trade and travel that may hasten the potential pace for infection transmission across species. The demand for animal protein has driven up commercial food animal production, resulting in an increase in zoonotic infections in both livestock and companion animals, posing a significant hazard to public health. Animal immunizations are critical for containing emerging infections and mitigating their effects. Animal vaccinations will continue to play an important role in fighting emerging diseases in the future.
Browse in-depth TOC on the ” Veterinary Vaccines Market “
- Pages – 219
- Tables – 237
- Figures – 78
Veterinary Vaccines Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $8.50 Billion |
| Estimated Value by 2031 | $13.75 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.2% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Disease, Technology, Type, Route of Administration and Distribution Channel |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the world |
| Report Highlights | Growing awareness of zoonotic disease |
| Key Market Opportunities | Advancements in Vaccine Technology |
| Key Market Drivers | Rise in pet ownership and spending |
Livestock Diseases Segment is Dominating the Veterinary Vaccine Market Due to Its Substantial Economic Impact
The segment of livestock diseases now commands the veterinary vaccines market. This supremacy is mostly because livestock diseases exert a huge economic influence on the agricultural industry. It is of increased importance to keep the health of cattle at optimum levels since they provide beef, milk, wool, and other items that contribute towards economic stability. The frequency of diseases such bovine viral diarrhea, foot and mouth disease, and others need extensive immunization programs. These strategies prevent outbreaks of such infections in the future while keeping cow husbandry productive and profitable. Increasing global demand for animal-based products has turned the health of livestock into a serious concern that advances the industry.
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Expanding Role of Retail Pharmacies in the Veterinary Vaccines Market: A New Era of Convenience
The retail pharmacy business is expected to continue to grow. Many pet owners buy veterinary vaccines online. These same institutions often create this phenomenon by making veterinary vaccines and associated supplies readily available. As a result, this segment is predicted to show revenue growth in the animal vaccine market. Retail pharmacies are capitalizing on this trend by upgrading their e-commerce platforms to provide a seamless and user-friendly experience for customers shopping for veterinary vaccines. In addition to online choices, retail pharmacies have physical sites where pet owners can get immunizations, especially in places where specialized veterinarian services are limited.
North American Veterinary Vaccines Market Dominance: The Impact of Zoonotic Diseases and Rising Pet Populations
North America dominated the global veterinary vaccines market in 2022, accounting for more than 25% of total revenue. This dominance is predicted to be retained during the forecast period due to many incidences of zoonotic and cattle infections, leading to considerable animal deaths. Growth in the market is anticipated to be fueled by certain well-established pharmaceutical companies operating in the regional market, coupled with rising commercialization and geographical expansion. Further, the increasing cases of canine diseases and the pet population in the U.S. fueling the regional market growth.
Veterinary Vaccines Market Insight
Drivers
- Rise in the incidence of animal diseases
- Increase in awareness and education
- Technological innovation
Restraints
- High development and production costs
- Economic downturns
- Vaccine efficacy and safety concerns
Key Players Operating Within the Veterinary Vaccines Market
The following are the Top Veterinary Vaccines Companies
- Biovac
- Aptimmune
- Intas Pharmaceuticals
- Laboratoire LCV
- China Animal Husbandry Group
- Ceva Sante Animale
- Elanco Animal Health
- Zoetis, Inc.
- Merck & Co, Inc.
- Neogen Corporation
Key Questions Answered in Global Veterinary Vaccines Market Report
- How much is the global veterinary market likely to be worth by 2031, and what is the predicted compound annual growth rate (CAGR) for this market?
- Why is the veterinary vaccines industry becoming more and more dominated by the Retail pharmacies Segment?
- Which region leads the world market?
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This report provides the following insights:
- Analysis of key drivers (Increase in awareness and education and Technological innovation), restraints (economic downturns and vaccine safety concerns) opportunities (advancements in vaccine technology), and challenges (high development and production costs) influencing the growth of veterinary vaccines market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the veterinary vaccines market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the veterinary vaccines market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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