Animal Vaccines Market to Generate $15.20 Billion, By 2030 at 5.2% CAGR: Allied Market Research

Portland, ore.And Jan 21 2022 /PRNewswire/ – Allied Market Research has published a report titled, animal vaccines market By type (attenuated vaccines, inactivated vaccines, subunit vaccines, toxin vaccines, conjugated vaccines, recombinant vaccines, nucleic acid vaccines) and animal type (companion animals, zoonotic, aquaculture): Global Opportunity Analysis and Industry Forecast, 2021-2030. “ According to the report, the global animal vaccine industry has gained 9.09 billion dollars In 2020, it is expected to generate 15.20 billion dollars By 2030, we could see a compound annual growth rate of 5.2% from 2021 to 2030.

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Drivers, limitations and opportunities

Increased demand for pet insurance, increased prevalence of animal diseases, increased spending on animal health, and increased companion animal ownership are driving the growth of the global animal vaccine market. However, highly competitive meat and dairy prices and the deadly effects of veterinary vaccines on human and animal health are constraining market growth. By contrast, developments in vaccine products and the increased demand for crossbred animals provide new opportunities in the coming years.

Covid-19 scenario

  • The Covid-19 pandemic has negatively affected the animal vaccine market. Veterinary organizations recommended restrictions on care for animal patients and postponed surgery for animals with mild illnesses. However, surgeries and vaccination procedures were performed for critically ill animals.
  • Lockdown measures have led to the postponement of annual check-ups and elective vaccinations. However, the supply of animal vaccines has led to disruptions due to challenges in the supply chain.

Attenuated vaccines segment continues to lead during the forecast period

Based on product, the attenuated vaccine segment captured the largest market share in 2020, contributed to nearly two-fifths of the global animal vaccine market, and is expected to maintain its leading position by 2030. This is due to the presence of advanced technologies for mutations/deletions. specific in the genes of the virus. However, the DNA vaccines segment is expected to register the fastest compound annual growth rate of 8.1% during the forecast period, due to the higher prevalence and ease of manipulation of animal diseases compared to conventional vaccines.

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The livestock sector will continue to lead in terms of revenue by 2030

Based on animal type, the livestock sector accounted for nearly two-thirds of the global animal vaccine market in 2020, and is expected to maintain its leadership position based on revenue by 2030. This is due to the increased prevalence of infectious diseases among livestock animals and increased awareness of immunization . However, the companion animal segment is expected to display the largest compound annual growth rate of 5.5% during the forecast period, due to increased awareness of medical and comorbid animal diseases and increased spending on animal healthcare worldwide.

North America To maintain its highest contribution throughout the forecast period

based on the area, North America It contributed to the highest market share in 2020, accounting for nearly two-fifths of the total market share in the global animal vaccines market, and is estimated to maintain its dominance throughout the forecast period. This is due to the already existing veterinary regulatory structures and concerns about animal health among the people. However, Asia Pacific The highest compound annual growth rate of 5.9% is expected during the forecast period, due to the increased need to protect livestock from mass surveys with outbreaks of epidemics.

Leading market players

  • Merck & Co., Inc.
  • Zoetis Inc.
  • animal health thing
  • Sanofi SA
  • romvac
  • Vaccinova
  • Biovac
  • Merial
  • Boehringer Ingelheim GmbH
  • Anicon Labor GmbH

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“We have also published a few common market studies in the same field that may interest you. Below is the title of the report for your reference., considering the impact of Covid-19 on this market which will help you to assess the after effects of the pandemic on the short term and long term growth trends of this market. “

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