Animal Vaccines Market Trends, Size Analysis and Outlook 2034
Animal vaccines, commonly referred to as veterinary vaccines, are biological preparations created to safeguard animals against infections caused by bacteria, viruses, and fungi. They are regarded as an effective measure to prevent diseases, thereby reducing the disease burden among both companion and farm animals. These vaccines serve a crucial function in enhancing animal health and welfare, supporting livestock productivity, and limiting the transmission of pathogens from animals to humans.
According to SPER market research, ‘Global Animal Vaccines Market Size- By Animal Type, By Product, By Route of Administration, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Animal Vaccines Market is predicted to reach 34.53 billion by 2034 with a CAGR of 9.74%.
Drivers:
The rising prevalence of zoonotic diseases along with the potential for infectious outbreaks in companion and livestock animals have been driving growth in the animal vaccines market. There are more stringent regulations regarding the health of animals due to global food security concerns. These regulations have resulted in the establishment of animal vaccination programs designed to ensure effective disease control. Regulatory bodies worldwide are enforcing strict policies to avert outbreaks of animal-borne diseases and fostering the increased use of vaccines to mitigate economic losses in the livestock sector, thereby aiding market expansion. The animal health sector is also expected to benefit from a number of technical developments in veterinary medicine.
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Restraints:
The market for animal vaccinations has major problems due to the high costs of these vaccines and the difficulties in storing them. Vaccines are intricate biological entities that necessitate considerable research, development, and production processes. These factors add to the high expenses associated with producing vaccinations for animals. Expenses related to vaccine development, clinical trials, regulatory approvals, and scaling up manufacture are considerable. The requirement for specialized facilities, equipment, and expertise further exacerbates these expenses. Such high costs affect the affordability and availability of animal vaccines, particularly in developing nations.
North America led the market, capturing the largest share of revenue in 2024. This region is likely to maintain its dominant position throughout the predicted period. The substantial market share can be linked to the high incidence of livestock and zoonotic diseases, which result in significant animal mortality. Moreover, the market is projected to experience accelerated growth due to the presence of numerous well-established pharmaceutical companies that are actively seeking to broaden their global presence and commercialize their vaccine products. Some of the key market players are Zoetis, Boehringer Ingelheim Animal Health, Elanco, Virba, Merck & Co., Inc, Phibro Animal Health Corporation, and others.
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