Market Overview:

Veterinary vaccines are used to prevent and treat animal diseases. In terms of revenue, the global veterinary vaccines market was valued at almost $6,100 Million in 2018 and is anticipated to reach over $12,000 Million in 2023, expanding at a CAGR of above 6.5% from 2018 to 2023.

Market Drivers and Restraints:

Rise in the prevalence of animal diseases and an increase in spending on companion animals across the globe are likely to drive the global veterinary vaccines market from 2018 to 2026. The demand for veterinary vaccines is increasing as antimicrobial usage among farm as well as companion animals have reduced over the past five years. Fears of avian influenza and zoonosis, coupled with government initiatives to restrict Antimicrobial Drug Resistance (AMR) in animals and human beings, are fueling the demand for veterinary vaccines. These veterinary vaccines reduce reliance on anthelmintic and antimicrobial drugs for treating infections.

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Report segmented as:

By Livestock:

Bovine
Porcine
Ovine
Poultry
Equine
By Companion Vaccines:

Feline vaccines
Canine vaccines
Geographical analysis:

In terms of region, North America held a significant share of the global veterinary vaccines market in 2017. Developed vaccination programs and an increase in ownership of companion animals are factors propelling the market in North America. In terms of revenue, the market in the Asia Pacific is projected to expand at a rapid pace during the forecast period due to a rise in the trend for keeping companion animals. Rise in the prevalence of animal diseases such as rotavirus and rift valley fever, awareness about different vaccination programs, and usage of different vaccines to prevent diseases in countries such as Brazil and South Africa are likely to boost the market in Latin America and Middle East & Africa.

Important market players:

Key companies operating in the global veterinary vaccines market 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.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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