Global Veterinary Vaccines Market: Key Opportunities and Challenges
According to the report " Veterinary Vaccines Market ", published by Market Data Forecast, the global market is projected to reach USD 7197.82 Billion by 2020, at a CAGR of 5.50% from 2015 to 2020.
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Veterinary vaccines are used to treat ailments of animals and are produced for administration by parenteral or oral routes depending on the vaccine characteristics. The market has shown great rise in the past decade which can be accredited to the growing husbandry practices and better management of farms. Due to advancement in biotechnological research this growth shows future prospects also. With the growing usage of continuous cell lines as a substrate and embracing of the fermenter technology for antigen production the veterinary vaccines market has shown a penchant for growth in the recent times.
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Rising incidences of zoonotic diseases in humans, growing prevalence of animal diseases, increasing investments by major companies, various government agencies and animal rights associations; continuous innovations, increasing awareness against the use of antimicrobials are the main reasons for vaccine producers to invest significantly into development of new products, which in parallel, act as market drivers. Yet, rising maintenance costs for the storage of vaccines, increasing adoption of vegetarian diet in major economies owing to increasing risk of obesity and other chronic diseases are key restraints of this market.
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The Global market for Veterinary Vaccines is segmented on the basis of type and technology as following:
1.By Type
- Livestock vaccines (Bovine, porcine, Ovine, Poultry and Equine)
- Companion vaccines (canine and feline)
2.By Technology
- Live attenuated vaccines
- Inactivated vaccines
- Recombinant vaccines
- Toxoid vaccines
- Subunit vaccines
- DNA vaccines
- Conjugate vaccines
3.By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Major companies operating in this domain are Bayer HealthCare AG, Bioniche Animal Health Canada, Sanofi Animal Health, Inc., Biogenesis Bago SA, Heska Corporation, Indian Immunologicals Ltd., Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Heath, Inc., Merck & Co. Inc, and Protein Sciences.
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