The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Veterinary Vaccines Global Market Report 2024, the veterinary vaccines market is expected to show significant growth in the forecast period.

Recent Surge and Future Projections

• The veterinary vaccines market has witnessed robust growth in recent years.
• Expected growth from $12.47 billion in 2023 to $13.44 billion in 2024, with a CAGR of 7.8%.
• Forecasts indicate further expansion to $17.85 billion by 2028, driven by a CAGR of 7.4%.

Underlying Factors Driving Growth

• Emerging markets growth.
• Increased pet spending.
• Increased disease prevalence.
• Outbreak of poultry diseases.
• Rising incidence of zoonotic diseases.

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Elevated Disease Prevalence Fuels Growth In The Veterinary Vaccines Market

Rising Disease Incidents

• Increase in animals suffering from various diseases.
• Notable cases like bovine tuberculosis (TB).
• TB herd incidents in England reported by the Animal and Plant Health Agency.

Treatment and Market Impact

• Chronic nature of diseases like TB.
• Disease treatment with specific antibiotics.
• Expected market growth during the forecast period.

Key Players in the Market

• Zoetis Inc.
• Boehringer Ingelheim GmbH.
• Merck & Co. Inc.
• Elanco Animal Health Incorporated.
• Ceva Santé Animale.
• Virbac Group.
• HIPRA, Biogenesis Bago.
• Kyoritsu Seiyaku Corporation.
• Phibro Animal Health Corporation.
• Century Vaccines Limited.

Strategic Collaborations And Partnerships Driving Innovation In The Veterinary Vaccines Market

Collaborative Endeavors

• Companies partnering for research and development.
• Merck Animal Health’s alliance with Iowa State University.
• MSD Animal Health’s partnership with Vinovo.
• Wageningen bio veterinary research’s alliance with Ceva.

Focus Areas of Partnerships

• Research and development.
• Manufacturing.
• Exploring new technologies.
• Business expansion.

Segmentation and Regional Analysis

Market Segments

• By Application: Livestock Vaccines, Companion Animal Vaccines.
• By Vaccine Type: Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Other Vaccine Types.
• By Disease Type: Anaplasmosis, Canine Parvovirus, Foot And Mouth Disease, Newcastle Disease, Distemper Disease, Influenza, Porcine Reproductive And Respiratory Syndrome (PRRS).

Regional Insights

• North America leading the veterinary vaccines market in 2023.

Conclusion

The veterinary vaccines market is on a trajectory of robust growth, driven by various factors including increased disease prevalence, rising pet ownership, and strategic collaborations among key players. As the market continues to evolve, innovation and partnerships will remain crucial in addressing emerging challenges and meeting the growing demand for animal health solutions.

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