Veterinary vaccines are the vaccines that are mainly used to increase immunity of animals.
Veterinary vaccines are the vaccines that are mainly used to increase immunity of animals. They help in improving animal health and avoids transmission of diseases from animals to humans. There are several types of veterinary vaccines available in the market some of them are subcutaneously (under the skin) and other are intramuscularly (into the muscle) to animal.
Rise in prevalence of zoonotic diseases coupled with increasing awareness regarding the animal vaccines are some of the prominent factor expected to drive the global veterinary vaccines market in the coming few years.
In addition to this, advancement in effectivity of these vaccines, emergence of new zoonotic diseases, and increasing investment by government bodies are some other factors likely to drive the global veterinary vaccines market in the coming few years. Some of the other factors expected to propel the veterinary vaccines market are discussed as below-
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- There has been a significant rise on animal expenditure by people across the globe. This can be attributed by the growing by pet lovers’ population across the globe. This is further projected to boost the prospects of the veterinary vaccines market.
- Some of the common veterinary vaccines are foot & mouth diseases vaccines, rabies vaccines and equine influenza virus vaccines. The fatal impact of diseases caused by the transmission of bacteria from animal to human is projected to fuel the global veterinary vaccine market.
- However, factors like lack of animal health awareness, high cost of vaccines, lack of government funding are anticipated to hamper the future prospects of the veterinary vaccines market in the coming few years.
- Nonetheless, increased demand for animal protein and surge in expenditure on healthcare for companion animals are some other factors likely to offer a positive impact on the growth of the veterinary vaccines market.
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Targeted Efforts to Improve Animal Conditions are Helping Market Growth
A key driving factor for the development of the global veterinary vaccines market is the substantial growth in terms of efforts of animal owners and veterinarians to improve the health conditions of animals. Moreover, their concentrated efforts to cut down the diseases and infections affecting livestock across the globe, has also given the much needed impetus to the development of the global veterinary vaccines market. The growing pressure about the impact of such diseases on public as well as animal health is encouraging the development of new technologies. This too is helping the growth of the global market.
North America to Remain as Key Contributor
In terms of geographical segmentation, the global veterinary vaccines market is divided into five main regions namely Asia Pacific, Middle East and Africa, North America, Europe, and Latin America. Of these regional segments, the global market for veterinary vaccines is currently dominated by the North America region. The segment is expected to continue to lead over the course of the forecast period. Presence of key companies, increasing research and development activities, and early access to new therapeutics and technologies are some of the factors that are driving the growth of the market.
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Key companies operating in the global veterinary vaccines market that are profiled in the report include Boehringer Ingelheim GmbH, Merck Animal Health, Zoetis Inc., Eli Lilly and Company, Bayer AG (Bayer Animal Health), Ceva Santé Animale, Virbac, Biovac, Neogen Corporation, and ImmuCell Corporation. These players are adopting organic and inorganic growth strategies to expand their product offerings, strengthen their geographical reach, increase customer base, and gain market share. For instance, in December 2017, Merck Animal Health acquired the Uruguay-based Prondil S.A.. This acquisition helped Merck Animal Health develop more advanced vaccines for livestock animal in order to serve its customers.
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