Global Duck Medicine and Vaccines Market, by Type (Medicine and Vaccines), by Application (Farm and Government), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,777.0 million in 2021 and is expected to exhibit a CAGR of 7.7% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing expansion strategies such as construction of new laboratories by the key players operating in the market to increase the vaccine production is expected to drive growth of the global duck medicine and vaccines market over the forecast period. For instance, in June 2021, YEBIO BIOENGINEERING CO., LTD, a company producing duck, chicken, and swine vaccines, constructed Yebio High-grade Pathogen Biosafety Level 3 Laboratory. This laboratory includes functional parts such as cell-level laboratories and laboratories for large and medium-sized and small animals, which can be used for pathogen isolation, testing experiments for prevention and control studies on diseases such as African swine fever and avian influenza.
Global Duck Medicine and Vaccines Market – Impact of Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on November 25, 2021. According to the Coronavirus (COVID-19), Weekly Epidemiological Update by the World Health Organization, over 398,682,567 cases and 5,771,030 deaths due to coronavirus (COVID-19) were reported as of February 8, 2022, across the globe.
The COVID-19 pandemic and lockdown in various countries across the globe has negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. Likewise, COVID-19 pandemic has made a negative impact on the global duck medicine and vaccines market, owing to the reduced access to veterinarians and problems related to transportation. For instance, according to an article published by the National Center for Biotechnology Information (NCBI), limited access to the veterinary dispensary or even veterinarians and also problems related to the transportation of animals to the polyclinic at the time of need led to a high level of morbidity of diseases and at times death of the animals.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Duck Medicine and Vaccines Market”- Forecast to 2028, Global Duck Medicine and Vaccines Market, by Type (Medicine and Vaccines), by Application (Farm and Government), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in the Global Duck Medicine and Vaccines Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/duck-medicine-and-vaccines-market-4956
Moreover, the formation of new institutes for vaccine production and research activities is also expected to aid in growth of the global duck medicine and vaccines market over the forecast period. For instance, in June 2021, Yebio Vaccination Technology Institute was formed by YEBIO BIOENGINEERING CO., LTD, an animal vaccine producer that produces swine, duck and chicken vaccine, in Qingdao, China. The newly formed institute aims to focus on the standard and optimization of vaccination operation.
Key Takeaways of the Global Duck Medicine and Vaccines Market:
- The global duck medicine and vaccines market is expected to exhibit a CAGR of 7.7% during the forecast period due to the adoption of various programmes by the government for animal welfare, which are expected to boost growth of the market. For instance, Intensive Poultry Development Project is an important poultry development scheme. Under this scheme farmers are encouraged to set up commercial poultry farms for which the essential technical assistance is provided. The primary work under this scheme is to include activities such as prophylactic vaccination for poultry including ducks. Prophylactic and post exposure treatment are provided at free of cost under this scheme.
- On the basis of applications, the farm segment is estimated to account for the largest market share in the global duck medicine and vaccines market over the forecast period, owing to the increased demand of duck farming and various advantages associated with duck rearing. For instance, duck rearing offer a lot of advantages such as longer egg-production life, less elaborate housing needed, laying an average 40-50 more eggs than that of hen, less care and attention required, and others.
- Major players operating in the global duck medicine and vaccines market include Boehringer Ingelheim International GmbH., Ceva, YEBIO BIOENGINEERING CO., LTD., NAVETCO, Shangqiu Meilan Biological Engineering Co.,Ltd., Merck & Co., Inc., EGAVET, Bioveta, a.s., Jilin Zhengye Biological Products company limited, and Harbin Pharmaceutical Group Bio-vaccine Co. Ltd.
