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Allied Market Research: Animal Vaccines Market to reach $15.20 Bn, Globally, by 2030 at 5.2% CAGR: AMR

Growth in demand for pet insurance and rise in prevalence of animal diseases drive the growth of the global animal vaccines market.

PORTLAND, Ore., Aug. 31, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Animal Vaccines Market by Type (Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, Recombinant Vaccines, and DNA Vaccines) and Animal Type (Companion Animal, Livestock Animal, and Aquaculture): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global animal vaccines industry generated $9.09 billion in 2020, and is expected to reach $15.20 billion by 2030, growing at a CAGR of 5.2% from 2020 to 2030.

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Prime determinants of growth

Growth in demand for pet insurance, rise in prevalence of animal diseases, surge in expenditure for animal health, and increase in ownership of companion animal drive the growth of the global animal vaccines market. However, highly competitive meat and milk prices and adverse impact of veterinary vaccines on human and animal health hinders the market growth. On the other hand, advancement in vaccine product and rise in demand for hybrid animal create new opportunities in coming years.

Covid-19 Scenario

  • The emergence of covid-19 affected the animal vaccine market negatively. The veterinary organizations across the globe have recommended limiting animal patient care to acutely ill animals and emergencies.
  • The lockdown measures have led to rescheduling of annual checkup exams and elective vaccination procedures. The supply of animal vaccination witnessed disruptions to certain point. However, the manufacturers ensured proper supply of animal vaccinations.

The attenuated vaccines segment to maintain its dominant position during the forecast period

Based on product, the attenuated vaccines a segment held the highest market share in 2020, accounting for nearly two-fifths of the global animal vaccines market, and is expected to maintain its dominant position during the forecast period. This is attributed to availability of advanced technology for specific mutations/deletions in genes of the virus. However, the DNA vaccines segment is estimated to witness the highest CAGR of 8.10% from 2020 to 2030, owing to increase in prevalence of animal diseases, and its easy manipulation as compared to traditional vaccines.

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The livestock segment to maintain its leadership status based on revenue by 2030

Based on animal type, the livestock animal segment accounted for nearly than two-thirds of the global animal vaccines market in 2020, and is projected to maintain its leadership status based on revenue by 2030. Increase in the prevalence of various infectious diseases among livestock animals and surge in awareness related to importance of immunization. However, the companion animal segment is expected to portray the highest CAGR of 5.50% from 2020 to 2030. The increase in awareness regarding medical illnesses & ailments of companion animals and growth in animal healthcare expenditure worldwide drive the growth of the segment.

North America to maintain its highest contribution throughout the forecast period

Based on region, North America held the majority share in 2020, with nearly two-fifths of the total share of the global animal vaccines market, and will maintain its highest contribution throughout the forecast period. This is due to established veterinary organizational structures and concern amongst people to ensure animal health. However, Asia-Pacific is expected to maintain the highest CAGR of 5.90% during the forecast period, owing to increase in need of protection of livestock from mass wipeouts due to epidemics, especially in countries such as India.

Leading market players

  • Merck & Co., Inc.
  • Zoetis Inc.
  • Ceva Santé Animale
  • Sanofi S.A.
  • Romvac
  • Vaxxinova
  • Biovac
  • Merial
  • Boehringer Ingelheim GmbH
  • Anicon Labor GmbH

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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

Similar Reports:

Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Cancer Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2019-2028

Therapeutic Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2019-2028

Influenza Vaccine Market - Global Opportunity Analysis and Industry Forecast, 2019-2028

Aquaculture Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2019-2028

Potential Analysis of Human DNA Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2019-2028

Meningococcal Vaccines Market - Global Opportunity Analysis and Industry Forecast, 2019-2028

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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