Increasing Livestock
Animal Immunization Offers Market Lucrative Opportunities
In terms of animals, livestock
animal accounted for a significant revenue share in the market due to the
increased demand for livestock animal immunization to ensure the safety of food
and dairy products. Livestock animals are major sources of primary as well as
secondary food products used by human throughout their daily life. As a result,
ensuring the health of these animals has become a top priority, prompting
farmers to adopt healthcare products such as veterinary vaccinations. Similarly,
the rapid rise of the animal immunizations market in both developed and
emerging economies will contribute to the expansion of this segment. A bird flu
outbreak was detected in 9 Indian states in December 2020. As a result, the
price of chicken products has dropped, negatively impacting the whole livestock
business. Chicken consumption has declined by 50%, according to the Poultry
Federation of India, with prices dropped by 30% in December 2020.
While other Asian countries have implemented vaccine policies, India has
resorted mostly to bird culling. This factor has boosted market growth.
Veterinary
Vaccines Are Gaining Traction as The Global Trend of Pet Adoption Increases
Some of the main factors driving
the global veterinary vaccines market are the rising prevalence of zoonotic
diseases, rising demand for animal products, the growing trend of pet adoption
all across the world and the exponential expansion of the animal healthcare
products industry. This is attributable to increasing pet care spending and
greater acceptance of effective vaccines. As reported by the American Pet
Products Association (APPA), Americans would spend more than US$ 123.6 Bn on
their pets in 2021. According to the same source, in 2021 and 2022, 70% of
American homes, or 90.5 Mn families, would have a pet. Similarly, the rapid
rise of the veterinary respiratory diseases treatment and pain management drugs
markets as a result of increased expenditure by pet owners on improving their
pets' health would generate market opportunities for veterinary vaccines during
the forecast period. Veterinary vaccinations are gaining popularity due to
their ability to protect both animal and human health by efficiently
mimic naturally acquired immunity. Revenues of veterinary vaccines are
particularly high in developed countries due to rising pet ownership. These
vaccines are crucial for assuring animal longevity and health. Veterinary
vaccinations are often crucial to animal health protection because they control
and prevent serious epidemic diseases.
Canine Vaccines Is
Estimated to Grow Significantly During the Forecast Period
In general, veterinary
vaccinations are used to protect animals from diseases such as foot-and-mouth
disease (FMD), bluetongue virus and rabies. Even though, the canine vaccination
is expected to increase rapidly during the forecast period due to the growing
number of pet dogs globally. Vaccination has always been a cornerstone of
canine medicine since it is one of the safest and most cost-effective methods
of disease prevention. According to an American Veterinary Medical Association
(AVMA) survey published in November 2021, both dog and cat numbers, as well as
the percentages of households having dogs or cats, have grown in recent years.
Approximately 69 Mn American homes have at least one dog, and 45.3 Mn have a
cat. As per the Pet Food Manufacturers Association, 3.2 Mn families in the U.K.
had adopted a pet since the pandemic began in 2021. Furthermore, it is
estimated that 88 Mn European homes own at least one pet animal. The trend is
likely to strengthen further during the forecast period as a result of factors
such as pet humanization and the increased adoption of pets in emerging
economies. The increased adoption of pet dogs enhances vaccination programmes
for companion animals, driving the growth of the canine vaccine market. Developments
in diagnostic testing and vaccine technology, as well as vaccine safety
concerns, have all attributed to the segment's rapid growth. Furthermore,
evolving vaccine protocols with constantly changing disease patterns and the
pet population boost the market.
Smallholder Farmers'
Lack of Vaccine Adoption in Developing Countries May Limit Growth
Throughout the forecast period,
the veterinary vaccine market is likely to be hampered by high storage costs
and challenging vaccine production processes. For instance, proper vaccine
handling and storage is important in preventing and treating a number of
prevalent diseases that may be prevented by vaccination. It is estimated that
600-900 Mn smallholder farmers own livestock in developing nations across Asia,
Africa and Latin America. Animal vaccination adoption among these smallholder
farmers is restricted owing to a variety of factors, including a lack of
awareness about the advantages, a lack of accessibility because they
cannot pay the cost of the inoculation goods and a lack of
availability due to a poor supply chain. A significant percentage of livestock
animals owned by smallholder farmers die as a result of various diseases,
placing them under additional economic strain. Governments and organisations
are implementing a variety of methods to increase the adoption of animal
vaccination among smallholder farmers by boosting accessibility,
affordability and availability.
Boehringer Ingelheim GmbH, Virbac
Group, Zoetis Inc., Ceva Santé Animale, Merck & Co., Inc., Bayer AG, Phibro
Animal Health Corporation and Elanco Animal Health are some of the key market
participants in the global veterinary vaccines market.
Huge Demand for Pet
Vaccinations Across North America Leads to Market Expansion
The biggest market share is held
by North America. The Center for Veterinary Biologics (CVB) of the Animal and
Plant Health Inspection Service regulates veterinary vaccinations in the United
States (APHIS). To manufacture and market veterinary biologics, the CVB issues
establishment and product licences to animal health enterprises. Additionally,
rising consumer awareness of current veterinary vaccination industry trends is
expected to benefit the North American market throughout the forecast period.
Advances in vaccine development in the United States include the development of
non-replicating recombinant antigen vaccines, live vector
vaccines, nucleic acid-mediated vaccinations and live-gene-deleted
vaccines. For instance, Zoetis, a leading animal health company, expanded its
poultry vaccine portfolio in January 2020 with the introduction of Poulvac
Procerta HVT-ND, a vectored recombinant vaccine for safeguard against Newcastle
and Marek's disease viruses. According to the Veterinary Medical Association 2021,
there were around 121,461 veterinarian private practises in the United States.
Vaccination for zoonotic diseases in companion and wildlife animals has a
significant influence on reducing the prevalence of zoonotic diseases. Rising
disease prevention awareness and technology developments are also likely to
drive demand for veterinary vaccinations in the region.
The report provides a detailed
overview of the veterinary vaccines market insights in regions including North
America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and
Africa. The country-specific assessment for veterinary vaccines market has been
offered for all regional market share, along with forecasts, market scope
estimates, price point assessment, and impact analysis of prominent countries
and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates
are also incorporated for every country and region, to provide a detailed view
of the veterinary vaccines market. These Y-o-Y projections on regional and
country-level markets brighten the political, economic and business environment
outlook, which are anticipated to have a substantial impact on the growth of
the veterinary vaccines market. Some key country and region included in the veterinary
vaccines market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Veterinary Vaccines Market Research
Report Covers In-depth Analysis on:
·
Veterinary vaccines market segments
·
Veterinary vaccines market dynamics
·
Veterinary vaccines market value and share
analysis
·
Recent trends, restraints, opportunities in veterinary
vaccines market
·
Companies & competition involved veterinary
vaccines market
·
Latest technologies in veterinary vaccines
market
·
Supply chain and value chain veterinary vaccines
market
·
Veterinary vaccines market sales and
distribution strategies
Veterinary Vaccines Market Growth Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Veterinary vaccines industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on veterinary vaccines market
forecast by countries
·
Essential information to enhance market position
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