Sarasota, FL, April 21, 2017 (GLOBE NEWSWIRE) Zion Market Research, the market research group announced the analysis report titled "Veterinary Vaccine Market by Application (Livestock Vaccines and Companion Vaccines), by Technology Types (Attenuated Vaccines, DNA Vaccines, Inactivated Vaccines, Toxoid Vaccines and Recombinant Vaccines) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 2021".
The study concludes that the global veterinary vaccine market is expected to grow at a CAGR of 9.3% between 2016 and 2021. The market revenue of $12.10 billion in 2015 is expected to grow up to $20.60 billion by 2021.
Vaccination is one of the most used applications of modern biotechnology to prevent chronic bacterial, viral and protozoal diseases. Veterinary vaccines are eco-friendly and used to increase animal welfare by preventing the death of animals, loss of dairy products and monetary loss of owners. Recently highly effective third generation vaccine against rabies virus has been developed with the help of recombinant technology. With the use of the vaccine, we can avoid the problem of antibiotic and drug resistance by the microorganism.
Browse through 10 Market Tables and 39 Figures spread through 110 Pages and in-depth TOC on Global Veterinary Vaccine Market: By Product, Type, Technology, Regions, Poultry, Diseases, Size, Share, Industry Trends, Segments, and Forecast 2015-2021.
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Major factors responsible for the growth of veterinary vaccines market include increasing pet ownership, increasing awareness for food security and increasing investment by various government agencies. Increased veterinary research institutions and colleges are also adding value to veterinary vaccines market. However, rising maintenance cost of vaccine storage and prevalence of chronic disease of animals with continuous economic slowdown are hindering the growth of the market. Increasing demand for milk, eggs, meat & animal protein and investment by the government would represent the massive opportunity in future.
On the basis of product type, the market of veterinary vaccines is bifurcated into livestock vaccines and companion vaccines. Livestock vaccines account the larger market share of more than 62% and companion vaccines accounts for around 38% share of global veterinary vaccine market. Livestock vaccines segment is classified into poultry, porcine and aquaculture vaccine type. The porcine vaccine is largest sub-segment with more than 30% share of global livestock market and it is expected to remain dominant during the forecast period. Companion vaccine is segmented into equine, canine and feline. Among these three segments, canine segments are the fastest growing segment with approximately 6% growth rate.
Browse the full "Veterinary Vaccine Market by Application (Livestock Vaccines and Companion Vaccines), by Technology Types (Attenuated Vaccines, DNA Vaccines, Inactivated Vaccines, Toxoid Vaccines and Recombinant Vaccines) - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 2021" report athttps://www.zionmarketresearch.com/report/veterinary-vaccine-market
On the basis of technology type, the veterinary vaccines market is classified into attenuated vaccines, DNA Vaccines, inactivated vaccines, toxoid vaccines, and recombinant vaccines. With noticeable share, DNA, and attenuated vaccine segments were accounted highest growth for veterinary vaccine market in 2015.
The veterinary vaccine market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As a result of increasing demand for livestock veterinary vaccines, North America and Europe has the strong hold on veterinary vaccine market with more than 68% share. In North America, the U.S. and Canada are two major markets, while the U.S. market is expected to remain dominant with nearly 38% share in forecast period due to increasing pet ownership and growing demand for dairy products. Asia-Pacific is expected to show noticeable growth in forecast period as a result of strong demand from China and India.
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Key operating players for the veterinary vaccines market are Heska Corporation, Zoetis Inc., Ceva Sant Animale Inc., Merck Animal Health, Sanofi (Merial Animal Health), Boehringer Ingelheim GmbH, Eli Lilly and Company (Elanco Animal Health), Virbac, Bayer AG, and Bimeda.
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Veterinary Vaccines Market: Product Segment Analysis
- Livestock Vaccine
- Companion vaccine
Veterinary Vaccines Market: Technology Segment Analysis
- Attenuated vaccines
- DNA Vaccines
- Inactivated vaccines
- Toxoid vaccines
- Recombinant vaccines
Veterinary Vaccines Market: Geography Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Source: Zion Market Research