Veterinary/Animal Vaccines Market Share, Size, Trends and Growth Forecast 2026A Story by nitaVeterinary/Animal Vaccines Market Worth USD 16.01 Billion at 6.4% CAGR, Rising Number of Companion Pet Owners Worldwide to Propel Growth: Fortune Business Insights™The global veterinary/animal vaccines market size is projected to hit USD 16.01 billion by the end of 2026 attributed to the increasing awareness about animal diseases and the increasing importance of animal health and welfare. Animals are exposed to various internal and external factors that act as disease-causing agents, thereby leading to communicable or fatal animal diseases. Therefor animal vaccination is a significant factor that allows humans and animals to share the same environment, especially for pet owners. As per a recent report by Fortune Business Insights titled, “Veterinary/Animal Vaccines Market Size, Share & Industry Analysis, By Product (Inactivated, Live Attenuated, Recombinant, Others), By Animal (Companion, Livestock), By Route of Administration (Oral, Parenteral, Others), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores, Others) and Regional Forecast, 2019-2026,” the market value was USD 9.75 billion in 2018 and is expected to exhibit a CAGR of 6.4% between 2019 to 2026, set as the forecast duration. Fortune Business Insights™ lists out the names of market manufacturers. They are as follows:
Objectives of the Report include:
Drivers & Restraints- Rise in Number of Zootonic Diseases Worldwide to Propel Demand The increasing number of farm animals and pet owners worldwide and the importance given to the health and well-being of their pets are major factors boosting the veterinary vaccines market growth. Additionally, the increasing number of animal cultivation practices for benefits such as milk, meat, eggs, wool, and others is also adding impetus to the market. Besides this, the rise in the number of zoonotic diseases and the increasing number of veterinary health care centers is expected to aid in the expansion of the market in the coming years. On the negative side, the adverse effects of vaccines on some animals such as fever, uveitis, anorexia, and high toxicity may pose a major hindrance to the market in the future. Nevertheless, awareness programs organized by various governments, and improving healthcare infrastructure for animal welfare is likely to create lucrative growth opportunities for the market in the coming years. Competitive Landscape- Players Focusing on Developing Vaccines for Better Revenue Generation The veterinary vaccines market manufacturers are engaging in the launch of vaccines for various animal diseases and are investing massively on the same. Besides this, they are engaging in collaboration and joint ventures to gain more revenue in the competition. © 2020 nita |
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Added on September 7, 2020 Last Updated on September 7, 2020 Author
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