Veterinary Animal Vaccines Market

Veterinary/animal vaccines are used for prevention and to provide protection from life threatening diseases to the animals. Majority of the vaccines are related to the companion animals, ruminants, swine, poultry, and aquaculture. The rising number of livestock disease outbreaks, rising livestock population, growing awareness about the prevention of animal-to-human transmission disease sand the rise in animal healthcare expenditure and adoption of companion animals has led to the growth of the global veterinary/animal vaccines market in the recent years. Factors such as worldwide rising adoption of companion animals and rising investment in research and development for animal vaccines are contributing to the growth of the market. However, high storage costs for veterinary vaccines, and introduction of counterfeit products are likely to restrain the market growth over the forecast period.

The global veterinary/animal vaccines market is growing at a rapid pace and Is projected to reach USD 9,910.59 million by 2025 from USD 6,074.05 million in 2017 and to register a CAGR of 6.38% during the forecast period from 2018 to 2025. In 2017, the market was led by the Americas with 42.03% share, followed by Europe and Asia-Pacific with shares of 31.81% and 20.85% respectively.

The market has been segmented based on type, technology, and region.

The global veterinary/animal vaccines market has been segmented, based on type, livestock vaccines, porcine vaccines, companion animal vaccines, poultry vaccines, and aquaculture vaccines. On the basis of type, livestock vaccines accounted for the largest market share of 25.67% in 2017, with a market value of USD 1558.94 million, and is projected to register a CAGR of 4.87% during the forecast period. The porcine vaccines segment accounted for a market share of 25.00% in 2017, with a market value of USD 1518.34 million, which is projected to register a CAGR of 6.49% during the forecast period.

The global veterinary/animal vaccines market, on the basis of technology, has been segmented into live attenuated vaccines, inactivated vaccines, recombinant vaccines, toxoid vaccines and others. Based on technology, the live attenuated vaccines segment accounted for the larger market share of 39.11% in 2017, with a market value of USD 2,375.33 million, which is projected to register a CAGR of 5.57% during the forecast period. The Inactivated Vaccines segment is projected to register a 6.84% CAGR during the forecast period and accounted for USD 2342.92 million in 2017.