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The launch of the vaccine named, Vanguard CIV H3N2/H3N8 Vaccine, was announced in December 2017 by Zoetis. This was the most recent vaccine in the list of the company’s canine influenza vaccine portfolio. Such initiatives taken by companies towards the launch of vaccines to protect animals from various diseases is promoting the growth of the global veterinary vaccines market, predicts Fortune Business Insights in their new report.
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List of companies mentioned in Veterinary Vaccines Market research report are
Fortune Business Insights foresees the global market for veterinary vaccines to rise because of the increasing number of pet adopters worldwide. In a report, titled “Veterinary Vaccines Market Size, Share and Industry Analysis, By Product (Inactivated, Live Attenuated, Recombinant, Others), By Animal (Companion, Livestock), By Route of Administration (Oral, Parenteral, Others), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies and Drug Stores, Others) and Regional Forecast, 2019-2026” it offers an overview of the market, highlighting the key growth drivers and potential restraints. It also provides recommendations to help market players gain competitive edge.
According to the report, the market is anticipated to rise from a value of USD 9.75 Billion in 2018 to USD 16.01 Billion by 2026. The forecast period is set from 2019 to 2026 and the market is expected to rise at a CAGR of 6.4%.
The global veterinary vaccines market is segmented on the basis of product, animal, and route of administration, distribution channel, and geography. Among these, the parental animal vaccines segment will earn the highest revenue in the forecast duration with respect to route of administration. This is owing to the fact that parental animal vaccines are among the most traditional and common forms of vaccinations. On the other side, the companion animal segment is prognosticated to grow at rapid CAGR in the forecast period, with respect to animal. This is attributable to the rise in number of pet ownership on a worldwide basis.
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Increasing Awareness About Diseases Contracted from Animals by Humans to Fuel Demand for Veterinary Vaccines
The rise in awareness about importance of veterinary healthcare is a major factor boosting the global veterinary vaccines market. The increase in the number of pet owners worldwide is also anticipated to help the market gain traction. Increasing investments in research and development by manufacturers for development of novel veterinary vaccines are also anticipated to promote the global veterinary vaccines market growth during the forecast period. Moreover, the prevalence of diseases that can pass on to humans from animals such as trichinella spiralis, rabies, and others may also help in the veterinary vaccines market growth.
Rise in Disposable Income to Help Asia Pacific Market Grow Rapidly
The global veterinary vaccines market was dominated by North America with a revenue generation of US$ 2.97 billion in 2018 AND Fortune Business Insights predicts this region to continue its dominance in the forecast period as well owing to the rapid adoption of efficient veterinary vaccines. This, accompanied by the use of technologically advanced vaccine delivery across all regions is anticipated to help North America remain dominant.
On the other side, the market for veterinary vaccination in Asia Pacific market is anticipated to register highest growth in the market. This is attributable to the rise in awareness and increase in disposable incomes of people that made them want to invest in the healthcare and well-being of their pets. Livestock and companion animals from Japan, India, China and the rest of Asia Pacific are taking keen interest in the implementation of timely vaccination. This is further expected to increase the veterinary vaccines market share in the region.
Launch of Novel Vaccines for the Preventive Care of Animals to Enable Growth in Market
Recent innovation taken by manufacturing companies in the global veterinary vaccines market include:
2018 The first ever first intradermal and needle-free device called IDAL3G Twin was launched in October 2018 by MSD Animal Health. This device has twin injector heads and is used as a vaccination for swine.
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Veterinary Vaccines Market Significant Growth 2019 | Size, Share, Trend, Global Analysis, Key Players Demand and Future Strategic Planning by Forecast to 2026