Veterinary Vaccines Market Segment Forecasts up to 2024, Research Reports

The global market for veterinary vaccines features an exceedingly consolidated competitive and vendor landscape, with the top three companies, namely Zoetis, Inc., Merck & Co., and Sanofi Aventis, collectively accounting for nearly half the market in 2015, observes a recent report by Transparency Market Research. The vast funds required for research and development in the field of vaccines have made it possible for a small number of small-scale companies to gain a stronghold in the global market. In 2015, small-scale companies accounted for a mere 30% of the overall market.
Transparency Market Research predicts that the global veterinary vaccines market will exhibit a nearly 7% CAGR from 2016 through 2024 and rise from US$6,271.8 mn in 2015 to US$11,403.6 mn by 2024.
This 185 page report gives readers a comprehensive overview of the veterinary vaccines market. Browse through 24 data tables and 50 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/veterinary-vaccines-market.html
Live Attenuated Vaccines to Continue to Dominate Global Sales
In terms of vaccine technology, the segments of live attenuated and inactivated vaccines collectively accounted for a share of nearly 80% in the global veterinary vaccines market. Used largely for companion animals, live attenuated vaccines individually held a nearly 44% of the overall market in 2015. These vaccines are produced in bulk owing to low cost of production. Over the report’s forecast period, the live attenuated vaccines technologies will continue to remain the dominant contributor to the revenue of the global veterinary vaccines market.
In terms of animal type, the segment of canine vaccines accounted for the dominant 52.7% of the global market in 2015. The segment is expected to exhibit a remarkable 8.6% CAGR from 2016 through 2024 and retain its dominant position in the global market. Geographically, North America led the market in 2015, accounting for a more than 44% of the global market.
Increased uptake of Animal Protein in Developing Economies Key to Market Growth
Animal products such as pork, beef, milk, chicken, and eggs contribute nearly 40% to the GDPs of agrarian economies. The market for these livestock-source foods generated revenues worth US$600 bn in 2015 and their demand is expected to expand at a significant pace across the globe in the next few years, especially across developing economies due to rising disposable incomes and increased focus on nutrition and healthcare. China, for instance, accounts for over half of the world’s total swine meat consumed on an annual basis. As the demand for animal-source food products increases, the focus on animal health and wellness will rise across the globe and will subsequently lead to a significant rise in the demand for veterinary vaccines.
Stringent Approval Policies and Short Exclusivity Periods to Arrest Market Growth
Product exclusivity periods of spans as short as three to five years are one of the key challenges faced by companies operating in the animal health care industry. The veterinary vaccines market also bears the brunt of this issue and the inevitable introduction of generics and over-the-counter products post patent expiration mars the profitability of companies who have spent vast funds on R&D to develop a new vaccine.
Request a sample of this report to know what opportunities will emerge in the rapidly evolving veterinary vaccines market during 2016 - 2024: http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=215
Apart from this, the overall growth prospects of the global veterinary vaccines market are also hampered due to the high dependence of market players on government channels for distribution. In India, for instance, the central and state governments purchase foot and mouth disease vaccines in bulk and supply them in different parts of the country. Bulk purchases often translate into reduced profits for the manufacturers and hamper the profitability of the entire global veterinary vaccines market.
This review of the market is based on a recent market research report by Transparency Market Research, titled “Veterinary Vaccines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024.” 

Veterinary Vaccines Market is expected to rise to a valuation of US$11.40 bn by 2024

A vast surge in the prevalence of zoonotic diseases, increased expenditures on the health and wellness of companion animals by pet lovers, and efforts by government and non-government organizations to educate masses about animal diseases and their effective treatment have collectively fueled the global veterinary vaccines market in the past few years. In the next few years, rising investments by key vendors on R&D activities are expected to lead to the development of highly effective varieties of vaccines such as subunit vaccines, DNA vaccines, and recombinant vaccines. This will have a huge impact on the overall growth prospects of the global veterinary vaccines market.

Transparency Market Research states that the global veterinary vaccines market, which held an opportunity worth US$6.27 bn in 2015, will exhibit a healthy 6.9% CAGR from 2016 through 2024, and rise to a valuation of US$11.40 bn by 2024.

Obtain Report Details: http://www.transparencymarketresearch.com/veterinary-vaccines-market.html

Live Attenuated Vaccines Emerge as Leading Contributor to Market’s Revenues

Of the key varieties of veterinary vaccines available in the global market, the segment of live attenuated vaccines presently dominates. The segment held a share of more than 44% in the global market in 2015. Expected to expand at a healthy 6.8% CAGR over the period between 2016 and 2024, the segment is expected to retain its dominance in the global market in the next few years as well. Factors such as easy transport, durability, affordability, safety, and ease of administration work in favor of these vaccine types.

As the production of live attenuated vaccines incurs comparatively low costs than inactivated vaccines and can be produced in bulk, their market is expected to flourish especially in developing regions. Over the period between 2016 and 2024, however, the market for technologically advanced product varieties such as DNA vaccines, subunit vaccines, and recombinant vaccines is expected to expand at the fastest CAGR of 9.2%. Factors such as high level of safety and no use of adjuvants will help these vaccines gain increased attention from pet and farm animal owners.

North America Leads but Emerging Economies to Present Promising Growth Opportunities

Fill the form for an exclusive sample of this report: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=215

North America is presently the key regional market for veterinary vaccines, accounting for nearly 37% of the overall revenues of the global veterinary vaccines market in 2015. The vast rise in pet ownership in the region, especially in the U.S., which has the world’s largest number of pets, is central to the massive demand for veterinary vaccines in the region. The market for veterinary vaccines in North America is also driven owing to the strict regulations put in place by the federal government mandating vaccination against certain viruses such as parvovirus, rabies, and adenovirus. Continuous research and progress in the field of veterinary immunology and immunopathology have also kept the region at the forefront of the global veterinary vaccines market.

Though the North America veterinary vaccines market will continue to be in a commanding position over the forecasting horizon in terms of revenue contribution, emerging markets such as Latin America, Asia Pacific, and Middle East and Africa are expected to provide the most promising returns. The vast rise in the number of companion and farm animals across these regions, rising awareness about vaccination among the population, and the rise in prevalence of zoonotic disease will drive the markets for veterinary vaccines in these regions. The market in Asia Pacific will exhibit a strong CAGR of 8.4% over the period between 2016 and 2024.

Some of the key vendors in the global veterinary vaccines market are Ceva Santé Animale, Bayer AG, Bimeda, Inc., Merck Animal Health, Sanofi (Merial Animal Health), Boehringer Ingelheim GmbH, Eli Lilly and Company (Elanco Animal Health), Virbac, and Zoetis, Inc.