Animal Vaccines Market Size Worth $26.12 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Feb. 14, 2022 /PRNewswire/ -- The global animal vaccines market size is expected to reach USD 26.12 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.3% from 2022 to 2030. The growing incidence of food-borne zoonotic diseases and increasing animal husbandry are boosting the demand for vaccines. Certain transmissible diseases such as bird flu and tuberculosis in invertebrate animals can be transferred directly or indirectly to humans. If consumers eat worms via undercooked fish, they can get contaminated with anisakiasis, a human zoonotic infection caused by some species of nematodes.

Key Insights & Findings from the report:

• Based on product, attenuated live vaccines emerged as the largest segment in 2021 as a result of the benefits such as improved effectiveness and enhanced long-term prevention. The recombinant vaccine is expected to witness considerable growth during the forecast period. These vaccine formulations can avoid the need for adjuvants, increase the viability of the vaccine, and improve stability.
• The livestock animal type segment dominated the market in 2021. According to Elsevier, Inc., as of February 2020, in Bangladesh, the prevalence of foot and mouth diseases in cattle was 24.71%.
• By route of administration, the intranasal segment is expected to register the fastest growth rate of 10.0% over the projected period owing to its growing popularity.
• North America dominated the market in 2021. Constantly rising awareness regarding livestock health and increasing commercialization of livestock products are factors expected to drive the market in the region during the forecast period.
• In Asia Pacific, the market is projected to witness swift growth during the forecast period owing to the speedy adoption of animal vaccines for quality food products and better animal health.
• Market players are opting for numerous strategies such as partnerships and new product launches. For instance, in October 2021, CZ VACCINES launched a new conjunctival vaccine called B19 CZV Ocular, thus adding a new vaccine to its range of brucellosis vaccines.     

Read 150-page market research report, "Animal Vaccines Market Size, Share & Trends Analysis Report By Product (Attenuated Live Vaccines, Recombinant Vaccines), By Animal Type (Livestock, Companion), By Route Of Administration, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Animal Vaccines Market Growth & Trends

The increasing outbreaks of cattle disease and the ever-expanding livestock population are the prime factors for the wide acceptance of the ruminants especially cattle vaccines globally. Moreover, rising pet ownership and increasing awareness regarding the health of companion animals are propelling the market growth. Moreover, the increasing number of R&D investments initiated by the companies is one of the key growth factors. Competition in the market is expected to be high during the forecast period. The market is highly fragmented owing to the presence of several small and large players. This results in high competition among small players to sustain their position in the market.

Moreover, companies are increasingly adopting strategies, such as mergers & acquisitions, geographic expansion, and the launch of new products, to grow in the market. For instance, in December 2020, Elanco acquired exclusive global rights from Kindred Biosciences to its monoclonal antibody for Canine Parvovirus (CPV) called KIND-030. This strengthened the company's overall vaccine and therapeutics portfolios. Moreover, in September 2020, Ceva enhanced its production capacity at its French facility for bacterial autogenous vaccines. This is expected to support its growth strategy.

Animal Vaccines Market Segmentation

Grand View Research has segmented the global animal vaccines market on the basis of product, animal type, route of administration, and region:

Animal Vaccines Product Outlook (Revenue, USD Million, 2017 - 2030)

• Attenuated Live Vaccines
• Inactivated Vaccines
• Subunit Vaccines
• DNA Vaccines
• Recombinant Vaccines

Animal Vaccines Route of Administration Outlook (Revenue, USD Million, 2017 - 2030)

• Subcutaneous
• Intramuscular
• Intranasal

Animal Vaccines Animal Type Outlook (Revenue, USD Million, 2017 - 2030)

• Livestock
• Poultry
• Aqua
• Ruminants
• Swine
• Companion
• Canine
• Feline
• Others

Animal Vaccines Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• Japan
• India
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia

List of Key Players of Animal Vaccines Market

• Merck & Co., Inc.
• Zoetis
• Boehringer Ingelheim International GmbH
• Virbac
• Biogénesis Bagó
• Indian Immunologicals Ltd.
• Elanco
• Ceva
• Phibro Animal Health Corporation
• Neogen Corporation
• Intas Pharmaceuticals Ltd.
• Ourofino Saúde Animal

Check out more studies related to ammunition types, published by Grand View Research:

• Companion Animal Medicine Market - The global companion animal medicine market size was valued at USD 15.8 billion in 2020 and is estimated to expand at a compound annual growth rate (CAGR) of 9.6% from 2021 to 2028. Increasing prevalence of diseases in pets, rising pet expenditure, humanization of pets, adoption of online channels for buying pet medicines, and initiatives by key companies are the factors anticipated to fuel the market in the coming years.
• Animal Health Market - The global animal health market size was valued at USD 45.4 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2021 to 2028. The market is largely driven by a significant rise in demand for protein food and an increase in the incidence of zoonotic and food-borne diseases globally.
• Veterinary Medicine Market – The global veterinary medicine market size was estimated at USD 29.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2021 to 2028. The increasing cases of zoonotic and chronic diseases are the key factors driving the market for veterinary medicine.

Browse through Grand View Research's coverage of the Animal Health Industry

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com 
Web: https://www.grandviewresearch.com 
Grand View Compass | Grand View Pipeline 
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg