Veterinary Vaccines Market | Industry Size and Growth Report 2024
Veterinary Vaccines Market Size and Growth Rate:
The veterinary vaccines market is estimated to reach USD 8.46 billion by 2024, registering at a CAGR of 5.5% during the forecast period. Veterinary Vaccines Market is projected to reach USD 8.46 billion by 2024
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Veterinary Vaccines Market Overview:
Veterinary vaccines are considered to be an effective treatment procedure for animals suffering from various diseases. Vaccines prevent the spread of diseases from animals to humans and also stimulates the immune response in an affected animal. This helps to improve the production of livestock with high quality by maintaining the proper health of animals.
Veterinary Vaccines Market Growth Drivers and Challenges:
The market growth is driven by an increasing population of livestock and a growing demand to rise the production rate of the poultry products with high quality. On-going research on the development of new drugs and vaccines in the biotechnology field is accelerating the demand of the market. Rising awareness over the dosage forms among doctors is greatly influencing the demand of the veterinary vaccines market.
However, fluctuations in the availability of chemical products for manufacturing vaccines is slightly restraining the demand of the market. Frequent changes in the procedures in laboratories are also degrading the growth of this market. Rising risks in continuous use of the vaccines are remained as challenging attribute for the market developers.
Rise in the investments on veterinary hospitals with the pharmacy by government and non-government organizations is ascribed to outshine the demand of the market. Growing concern towards animal healthcare among people is setting up growth opportunities for the market. Furthermore, veterinary vaccines market growth is dependent on the adoption of the latest technologies in discovering new vaccines in accordance with different types of diseases.
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Veterinary Vaccines Market Geographical Analysis:
Regionally, the market is held by North America. The rise in the economy is well developed and developing countries are fueling the demand of the market. Increasing incidences of zoonotic diseases in this region are making the market share to expand enormously. Europe is positioned second in leading the highest shares of the market with the rise in the livestock population and the growing number of veterinary hospitals. The Asia Pacific is accounted for in having a tremendous growth rate from the past decade and is also to continue the same flow in the coming years. Shifting trends towards a healthy lifestyle by taking nutrition food in the regular diet is prompting the growth of the market.
Key players of the Veterinary Vaccines Market:
Noteworthy players in the veterinary vaccines market are Ceva (France), Phibro Animal Health (US), Virbac (France), Vetoquinol (France), Zoetis (US), Merck Animal Health (US), Elanco (US), Boehringer Ingelheim (Germany), HIPRA (Spain) and Hester (India).
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