Veterinary Vaccines Market to Hit US$ ~13.09 billion by 2031 | Exclusive Report by Growth Plus Reports

NEW YORK, May 31, 2022 /PRNewswire/ -- The Global Veterinary Vaccines Market is expected to clock US$ ~13.09 billion by 2031 owing to increase in the companion and livestock animal population, rise in the demand for animal-derived food products, growing cases of zoonotic diseases, and initiatives run by several government agencies and animal associations to maintain animal health.

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The global veterinary vaccines market has been analyzed from three different perspectives –Animal Type, Vaccine Type, and Region.

Growth Factors

The growing trend of companion animal ownership has increased the demand for better healthcare facilities with an intention to take care of the health of their companion/pet animals, which in turn is expected to propel the veterinary vaccine market.

According to American Pet Products Association (APPA), in 2019-2020, around 67% of U.S. households owned a pet, which equates to 84.9 million homes. This number is expected to grow dynamically in the forecast period, which in turn is expected to fuel the growth of the market.

Restraints

However, the high costs associated with vaccine development and storage & handling remain a major concern for the growth of the veterinary vaccines market. Furthermore, as biological materials are the basic resource used in the production of vaccines, government stringent regulation on transportation of biological materials from one region to another is also expected to hamper the growth of the market to a certain extent.

Excerpts from 'By Animal Type Segmentation'

The global veterinary vaccines market has been segmented majorly into two distinct categories depending on animal type, viz. livestock animals and companion animals. 

The livestock animals is further categorized into porcine, bovine, poultry and others (ovine, aquaculture, bees, and others). Whereas, companion animals is furthered categorized into canine, feline and others (equine, rabbit, and others). The companion animals segment is expected to be the fastest growing segment in the veterinary vaccines market. As companion animals stays in close contact with humans, infections such as rabies can easily spread to humans.

Therefore, in order to take care of the animals and to prevent the spread of such diseases to humans, there is a huge demand for vaccination of companion animals.

Excerpts from 'By Region Segmentation'

The global veterinary vaccines market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).

North America is expected to command the largest share in the global veterinary vaccines market, followed by the Asia Pacific, Europe & Rest of the World (RoW).

An increasing number of pet and livestock population, rising awareness about the prevention of diseases, an increase in disease outbreaks, and growing demand for effective animal medicinal products are some of the key factors driving the market growth.

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Excerpts from 'Competitive Landscape'

The prominent players operating in the global veterinary vaccines market are:-

• Boehringer Ingelheim International GmbH
• Intervet Inc
• a subsidiary of Merck & Co. Inc
• Zoetis
• Elanco
• Ceva
• Virbac
• Phibro Animal Health Corporation
• Hester Biosciences Limited
• HIPRA
• Biogénesis Bagó
• Among others

Global veterinary vaccines Market Analysis, Insights and Forecast

Veterinary Vaccines Market Analysis, Insights, and Forecast by Animal Type:

• Livestock Animals
• Companion Animals

veterinary vaccines Market Analysis, Insights, and Forecast by Vaccine Type:

• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Recombinant Vaccines

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