The global Animal Vaccines Market size is
expected to reach USD 26.12 billion by 2030, according to a new report by Grand
View Research, Inc. The market is expected to expand at a CAGR of 9.3% from
2022 to 2030. The growing incidence of food-borne zoonotic diseases and
increasing animal husbandry are boosting the demand for vaccines. Certain
transmissible diseases such as bird flu and tuberculosis in invertebrate
animals can be transferred directly or indirectly to humans. If consumers eat
worms via undercooked fish, they can get contaminated with anisakiasis, a human
zoonotic infection caused by some species of nematodes.
The increasing outbreaks of cattle disease and the
ever-expanding livestock population are the prime factors for the wide
acceptance of the ruminants especially cattle vaccines globally. Moreover,
rising pet ownership and increasing awareness regarding the health of companion
animals are propelling the market growth. Moreover, the increasing number of
R&D investments initiated by the companies is one of the key growth
factors. Competition in the market is expected to be high during the forecast
period. The market is highly fragmented owing to the presence of several small
and large players. This results in high competition among small players to
sustain their position in the market.
Moreover, companies are increasingly adopting
strategies, such as mergers & acquisitions, geographic expansion, and the
launch of new products, to grow in the market. For instance, in December 2020,
Elanco acquired exclusive global rights from Kindred Biosciences to its
monoclonal antibody for Canine Parvovirus (CPV) called KIND-030. This
strengthened the company’s overall vaccine and therapeutics portfolios.
Moreover, in September 2020, Ceva enhanced its production capacity at its
French facility for bacterial autogenous vaccines. This is expected to support
its growth strategy.
Related Press Release@ Animal Vaccines Market Report
Animal Vaccines Market Report
Highlights
- Based on product, attenuated live vaccines emerged as the largest
segment in 2021 as a result of the benefits such as improved effectiveness
and enhanced long-term prevention. The recombinant vaccine is expected to
witness considerable growth during the forecast period. These vaccine
formulations can avoid the need for adjuvants, increase the viability of
the vaccine, and improve stability
- The livestock animal type segment dominated the market in 2021.
According to Elsevier, Inc., as of February 2020, in Bangladesh, the
prevalence of foot and mouth diseases in cattle was 24.71%
- By route of administration, the intranasal segment is expected to
register the fastest growth rate of 10.0% over the projected period owing
to its growing popularity
- North America dominated the market in 2021. Constantly rising
awareness regarding livestock health and increasing commercialization of
livestock products are factors expected to drive the market in the region
during the forecast period
- In Asia Pacific, the market is projected to witness swift growth
during the forecast period owing to the speedy adoption of animal vaccines
for quality food products and better animal health
- Market players are opting for numerous strategies such as
partnerships and new product launches. For instance, in October 2021, CZ
VACCINES launched a new conjunctival vaccine called B19 CZV Ocular, thus
adding a new vaccine to its range of brucellosis vaccines
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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