The Global
Veterinary Vaccines Market was valued at US$ 5,688.7
million in 2015 and is projected to expand at a CAGR of 5.9% during
the forecast period (2016–2024), as highlighted in a new
report published by Coherent Market Insights.Rise in
incidence of food-borne zoonotic diseases along with increase in
population of livestock is expected to favor growth of the veterinary
vaccines market. According to European food safety authority (EFSA),
In the European Union (EU), over 320,000 fatalities are reported each
year due to food-borne zoonotic diseases.
Zoonoses are infections that directly infect
humans or are indirectly transmitted to humans through animals by
transmission of micro-organisms such as such as bacteria and their
toxins, viruses and parasites. This can be caused due to consumption
of contaminated food in contact with infected animals or contaminated
meat products. Severity of such diseases varies from mild symptoms to
life-threatening conditions. Most such micro-organisms are found in
the intestines of healthy food-producing animals. The above concern
is one of the major factors projected to propel growth of the market
for veterinary vaccines over the forecast period. Furthermore,
livestock animals serve as a major source of primary and secondary
food products. Rise in population of livestock animals is expected to
fuel demand for veterinary vaccines in the near future. Veterinary
vaccines promotes better growth of animals. According to WHO, in
2015, children under five years of age accounted for one third of all
deaths due to foodborne diseases.
To know the latest trends and insights prevalent
in the veterinary vaccines market, click the link below:
Breakout of zoonotic diseases are dependent on
various factors such as environmental changes, demographics related
to human and animals, pathogen changes and farming practice
modifications. According to Maine Center for Disease Control &
Prevention, in 2013, around 75% diseases of animal origin affecting
humans were infectious diseases. As animals are the closest
companions to humans and also serve as sources of various products
such as meat and milk, care should be given according to the severity
of the disease from which they can be affected. The specificity of
the vaccines is the most important factor that is responsible for the
growth in demand for the veterinary vaccines that can be used as
prophylaxis. According to clinical microbiology paper published in
2007, veterinary vaccines comprise around 25%of the animal health
products globally. Growth for veterinary vaccines industry has grown
consistently supported by various factors such as new technological
advancements and introduction of novel vaccine development methods
for cost effective products, which further favors the rise in
availability and adoption rate for the veterinary vaccines globally.
Also, drug resistance to existing pathogens and new diseases is also
prompting focus on new drug discoveries.
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According to (American Veterinary Medical
Association) JAVMA News in 2017, there have been various acquisitions
and mergers in veterinary vaccines market in the recent past.
However, 85 to 95% of veterinary hospitals in the U.S. are owned
independently. Mars Incorporated—a company involved in
manufacturing of Petcare, Chocolate, Wrigley, Food and Drinks—is to
acquire VCA Inc. – a pet health care services provider in the U.S.
and Canada that delivers through nearly around 800 small veterinary
hospitals – in total value of around US$ 9.1 billion . Furthermore,
in recent years a trend of consolidation has been observed in the
industry, as companies are experiencing focusing on leveraging
potential through economies of improved business practices.
Furthermore, there are various other factors responsible for
significant growth in the veterinary vaccines market such as rise in
swine population globally and increasing the reach for swine
influenza virus globally is projected to favor the market for
veterinary vaccines market over the forecast period.
Key takeaways of the market:
-
The global veterinary vaccines market is expected to expand at a CAGR of 5.9% during the forecast period (2016–2024). Rise in pet vaccination awareness among the population globally is expected to favor the market for veterinary vaccines market over the forecast period.
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The live attenuated vaccines segment in the global veterinary vaccines market was estimated to be the largest in 2015 and is expected to dominate the market throughout the forecast period in terms of value. Rise in demand for white meat in North America and Europe is expected to fuel the market to high growth over the forecast period
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In terms of animal type, the livestock type sub-segment is expected to expand at a significant CAGR of 5.6% during the forecast period owing to rise in population of livestock animal and the human dependency on the cattle for primary as well as secondary products
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The global veterinary vaccines market is characterized by strategic research and development and advancements in the technology of vaccines production. Also, the rise in adoption for poultry business globally is expected to favor the market for veterinary vaccines market.Get An Exclusive Discount For First Time Buyers@ https://www.coherentmarketinsights.com/insight/request-discount/125
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Some of the major players are Zoetis Inc. Merck Animal Health, Merial Inc., Boehringer Ingelheim, Bayer Animal Health, Elanco Animal Health, Ceva Animal Health, Heska Corporation, Virbac Inc., and Indian Immunological Ltd.
About Coherent Market Insights:
Coherent Market Insights is a prominent market
research and consulting firm offering action-ready syndicated
research reports, custom market analysis, consulting services, and
competitive analysis through various recommendations related to
emerging market trends, technologies, and potential absolute dollar
opportunity.
Contact Us:
Raj Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:sales@coherentmarketinsights.com
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email:sales@coherentmarketinsights.com
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