[Redding, California] - Meticulous Research®, a premier global market intelligence firm renowned for its in-depth analysis, has released its latest report, titled "Veterinary Vaccines Market by Type (Live, Inactive, Recombinant), Animal (Livestock [Ruminant, Poultry, Pig], Companion [Dog, Cat]), Administration Route (Oral, Parenteral, Nasal), Distribution Channel (Hospital & Clinic, Pharmacy) - Global Forecast to 2030".
According to this groundbreaking study, the veterinary vaccines market is poised to exhibit a robust CAGR of 6.1% from 2023, catapulting its value to an estimated $11.13 billion by the end of 2030. This growth trajectory is attributed to several factors, including the burgeoning livestock population, escalating pet adoption rates, rising incidence of animal diseases, and escalating demand for animal-sourced food products. Nevertheless, challenges such as the high costs associated with manufacturing and vaccine storage pose a hindrance to market expansion.
Moreover, the report identifies promising opportunities within the market landscape, driven by heightened awareness concerning animal health and increased investments in animal health management and pet insurance. However, the lack of awareness regarding animal health in certain developing regions presents a notable obstacle to market growth.
Key Market Players
The veterinary vaccines market boasts the presence of key players such as Zoetis Inc. (U.S.), Virbac (France), Ceva Santé Animale (France), Boehringer Ingelheim International GmbH (Germany), Phibro Animal Health Corporation (U.S.), Merck & Co., Inc (U.S.), Elanco Animal Health Inc. (U.S.), Vetoquinol (France), Neogen Corporation (U.S.), and Indian Immunologicals Ltd. (India).
For a detailed analysis and insights, download the sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=5618
Insights and Future Outlook
This comprehensive report segments the global veterinary vaccines market by type (including live attenuated vaccines, inactive vaccines, recombinant vaccines, and other vaccines), animal type (encompassing livestock and companion animals), administration route (including oral, intranasal, and parenteral), and distribution channels (comprising veterinary hospitals & clinics, pharmacies, and mobile veterinary units). Additionally, the study evaluates industry competitors and conducts thorough market analyses at both regional and country levels.
Live attenuated vaccines represent the dominant segment within the market landscape, owing to their high efficacy and traditional usage. These vaccines stimulate immune responses against pathogens upon administration, thereby bolstering the immune system's capacity to combat future infections.
Geographical Insights
Geographically, the report provides a comprehensive analysis of major regions, including North America (specifically the U.S. and Canada), Europe (encompassing Germany, France, the U.K., Italy, Spain, and the rest of Europe), Asia-Pacific (encompassing Japan, China, India, and the rest of Asia-Pacific), Latin America (including Brazil, Mexico, and the rest of Latin America), and the Middle East & Africa. North America is anticipated to dominate the veterinary vaccines market in 2023, closely followed by Europe and Asia-Pacific. Factors contributing to North America's prominence include its well-established agriculture and animal husbandry sectors, robust awareness of animal health among farmers and pet owners, substantial production and export of animal-derived food products, and a sizable population of companion animals.
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