North America was the largest region in the veterinary vaccines market in 2018. This region is expected to remain the largest during the next five years. The veterinary vaccines market in Asia Pacific is forecasted to register the highest CAGR during 2018-2023.
The veterinary vaccines market consists of sales of vaccines and related services which are used for the treatment and prevention of diseases in animals. These veterinary vaccines reduce animal suffering and transmission of microorganisms in the animal population. Veterinary vaccines are used to enhance the immunity power of animals by improving the animal health, which also prevents transmission of diseases from animals to humans. Veterinary vaccines industry includes entities that produce veterinary vaccines like livestock vaccines and companion animal vaccines.
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Veterinary Vaccines Market Size
The global veterinary vaccines market was valued at about $7.4 billion in 2018 and is expected to grow to $9.24 billion at a CAGR of 5.7% through 2022.
The increase in the number of animals suffering from range of diseases is increasing the demand for vaccines to prevent and treat such diseases, thus driving the veterinary vaccines market. For instance, according to an article on Vetrecords published in BMJ journal in 2017, the prevalence and incidence of bovine tuberculosis in the UK increased from 5.7% in 2016 to 6% in 2017. Bovine tuberculosis is a chronic disease that usually affects animals such as cattle, but it can affect all mammals causing a general state of illness, coughing and eventually lead to death. However, the disease can be treated with specific antibiotics that kills the TB bacteria. This rising prevalence of diseases in animals is expected to drive the veterinary vaccines market during the forecast period.
Major players in the global veterinary vaccines market include Boehringer Ingelheim GmbH, Merck Animal Health, Zoetis Inc., Eli Lilly and Company, and Bayer AG (Bayer Animal Health).
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Few Points from Table of Contets:
1. Executive Summary
2. Veterinary Vaccines Market Characteristics
3. Veterinary Vaccines Market Size And Growth
3.1. Global Veterinary Vaccines Historic Market, 2014 – 2018, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Veterinary Vaccines Forecast Market, 2018 – 2022F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Veterinary Vaccines Market Segmentation
4.1. Global Veterinary Vaccines Market, Segmentation By Application, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Companion Animal Vaccines
4.2. Global Veterinary Vaccines Market, Segmentation By Vaccine Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
Live Attenuated Vaccines
4.3. Global Veterinary Vaccines Market, Segmentation By Disease Type, Historic and Forecast, 2014-2018, 2022F, 2025F, 2030F, $ Billion
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