ANIMAL VACCINES MARKET ANALYSIS

Animal Vaccines Market, by Product Type (Attenuated Live Vaccines, Conjugate Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, DNA Vaccines, and Recombinant Vaccines), by Application (Companion Animal, Livestock Animal, Poultry, and Aquaculture), by Distribution Channel (Veterinary Clinics, Veterinary Hospitals, Veterinary Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published In : Mar 2022
Code : CMI4989
Pages :180
Formats :
Excel and PDF
Industry : Pharmaceutical

Animal Vaccines MarketSize and Trends

The global animal vaccines market is estimated to be valued at US$ 7,119.7 Mn in 2021, and is expected to exhibit a CAGR of 6.6% over the forecast period (2021-2028).

Furthermore, in the near future, global animal vaccines market is expected witness growth, owing to the increasing demand for vaccinations for animals. Following the re-opening of manufacturing units, demand and supply are projected to meet expectations of customers whose pet vaccine schedules were delayed due to the pandemic.

Figure 1: Global Animal Vaccines Market Share (%) Analysis, by Product Type, 2021

Increasing number of R&D initiatives is the major factor that is expected to drive the market growth over the forecast period.

Market players are engaged in conducting research projects to help understand viral diseases, in order to discover vaccination in order to prevent animals from various diseases. For instance, in June 2018, Regeneron Pharmaceuticals, Inc. and Zoetis, Inc. announced a five-year collaboration to research the use of Regeneron's monoclonal antibody therapeutics in animals and discover new veterinary treatments.

Market- Trends

Increasing Product Launches and Approvals

Market players are focusing on launching generic versions of opioid medications, which is expected to augment the market growth over the forecast period. For instance, in May 2020, MSD Animal Health, a division of Merck & Co., Inc., launched NOBIVAC Myxo-RHD PLUS vaccine to reduce mortality and clinical signs of the two most common viral diseases in rabbits: myxomatosis and rabbit haemorrhagic disease (RHD) caused by both classic (RHDV1) and variant (RHDV2) strains.