Global Veterinary Tuberculosis Vaccine Market, by Type (Live Attenuated, Inactivated), by Route of Administration (Sub-cutaneous, Intramuscular, Oral), by Animal Type (Cattle, Dogs, Cats, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 50.89 Mn in 2022 and is expected to exhibit a CAGR of 3.2% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing government initiative for veterinary tuberculosis vaccine is expected to propel the global veterinary tuberculosis vaccine market growth over the forecast period. For instance, in May 2021, the Department for Environment, Food & Rural Affairs, U.K. announced the work on producing a vaccine for cattle and vaccinating badgers is beginning as part of a new strategy to eradicate bovine tuberculosis (bTB) in England by 2038. Farmers in East Sussex would be able to deploy vaccinations throughout a 250-square-kilometer region as part of a five-year badger vaccination scheme that has been awarded US$ 2.95 million.
Global Veterinary Tuberculosis Vaccine Market – Impact of Coronavirus (COVID-19) Pandemic
The most recent pandemic is the coronavirus (COVID-19) pandemic, which was initially detected on December 31, 2019, in Wuhan, China. COVID-19 was declared a pandemic by the World Health Organization on March 11, 2020. According to the World Health Organization's Coronavirus Illness (COVID-19) Epidemiological Update, coronavirus disease (COVID-19) caused approximately 577 Billion cases and 6.4 Billion fatalities globally, till August 3, 2022.
The COVID-19 pandemic had a positive impact on the global veterinary tuberculosis vaccine market owing to the ongoing COVID-19 pandemic situation, which has resulted in a huge increase in the number of pet adoptions. The Society for the Prevention of Cruelty to Animals, Los Angeles, U.S. a non-profit animal welfare organizations had reported in 2021 that the rate of adoption in June 2020, with daily pet adoptions of about 10 to 13 per day. Therefore, the rising adoption of pets and vaccination as precautionary method for animals may help to drive growth of the global veterinary tuberculosis vaccine market.
Browse 40 Market Data Tables and 48 Figures spread through 197 Pages and in-depth TOC on “Global Veterinary Tuberculosis Vaccine Market”- Global Forecast to 2030, Global Veterinary Tuberculosis Vaccine Market, by Type (Live Attenuated, Inactivated), by Route of Administration (Sub-cutaneous, Intramuscular, Oral), by Animal Type (Cattle, Dogs, Cats, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
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https://www.coherentmarketinsights.com/market-insight/veterinary-tuberculosis-vaccine-market-5242
Moreover, increasing program initiatives for animal care by key market players is expected to drive growth of the global veterinary tuberculosis vaccine market over the forecast period. For instance, in April 2020, Pumpkin Insurance Services, Inc., a pet insurance agency and pet care company, announced the launch of its new insurance and optional monthly preventive care plans for pet owners in the U.S., which was launched by Zoetis Inc., a global animal health company, Pumpkin is now available to consumers in the U.S.
Key Takeaways of the Global Veterinary Tuberculosis Vaccine Market:
- Global veterinary tuberculosis vaccine market is expected to exhibit a CAGR of 3.2% during the forecast period, owing to increasing expansion of manufacturing unit to increase the production of vaccines, which is expected to drive the market growth over the forecast period. For instance, In July 2020, Merck Animal Health, the animal health division of Merck KGaA, announced that the company would invest US$ 100 million, in the company’s manufacturing site in Kansas, U.S., to scale up the tuberculosis vaccine production.
- Major players operating in the global veterinary tuberculosis vaccine market include Merck KGaA, Colorado Serum Company, CZ Vaccines (Zendal), and Zoetis Inc.
