According to the new market research report “Veterinary Vaccines Market by Disease (Swine Pneumonia, Avian Influenza, Rabies, Coccidiosis, Brucellosis, Canine Distemper), Type (Poultry, Livestock, Aquaculture, Porcine, Canine), Technology (Inactivated, Toxoid, Recombinant) – Global Forecast to 2025”, published by MarketsandMarkets™, the global Veterinary Vaccines Market is projected to grow at a CAGR of 7.2% during the forecast period to reach USD 11.3 billion by 2025 from USD 8.0 billion in 2020.
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Factors such as the rising incidence of zoonotic diseases, growth in the companion animal population, initiatives by various government agencies and animal associations to maintain animal health, and the increasing demand for animal-derived food products are driving the growth of this market.
The live attenuated vaccines segment accounted for the largest share of the veterinary vaccines market.
Based on technology, the veterinary vaccines market is segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and other vaccines. The live attenuated vaccines segment accounted for the largest share of the veterinary vaccines market in 2019, majorly due to the ease of administration and long-term immunity offered by these vaccines.
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The porcine circovirus II segment accounted for the largest share of the porcine vaccines market in 2019.
Based on disease, the porcine vaccines market is segmented into porcine reproductive and respiratory syndrome (PRRS), porcine circovirus II, porcine parvovirus, swine influenza, swine pneumonia, and other porcine diseases. In 2019, the porcine circovirus II segment dominated this market owing to the high and growing prevalence of the infection
North America to dominate the neuromodulation market during the forecast period
In 2019, North America dominated the veterinary vaccines market, followed by Europe. The major factors driving the growth of this market include the increasing animal population, growing animal disease prevalence, rising awareness on veterinary vaccines, and the high and increasing demand for animal products in the region.
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The prominent players in this market include Zoetis (US), Merck Animal Health (US), Boehringer Ingelheim (Germany), Elanco (US), Ceva (US), Virbac (France), Vetoquinol (France), Phibro Animal Health (US), Hester Biosciences (India), HIPRA (Spain), Biogenesis Bago (Argentina), Tianjin Ringpu (China), China Animal Husbandry (China), Jinyu Biotechnology (China), and Endovac Animal Health (US).