This report on the clostridium vaccine (animal health) market studies the current as well as future prospects of the market globally.
Albany, NY -- (SBWIRE) -- 02/23/2017 -- Global Clostridium Vaccines Market: Snapshot
Clostridium vaccines are chiefly utilized for a variety of bovine and ovine clostridial diseases such as blackleg, pulpy kidney (enterotoxaemia), black disease, and tetanus. The demand for clostridium vaccine is rising globally owing to the increasing incidence rate of clostridium family diseases and increased awareness regarding zoonotic diseases. Rising concerns about the mortality of livestock animal and the socioeconomic impact of it on agrarian economies are also increasing the demand for clostridium vaccines in developing countries globally.
Clostridium vaccine is are chiefly distributed through veterinary clinics and veterinary hospitals. In developing countries such as India, the distribution of these vaccines is highly dependent on government intervention. However, there has been a significant rise in the demand for these vaccines through retail pharmacies, which allow instant access to these vaccines without having to wait for government channels to distribute them.
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The global clostridium vaccine (animal health) market is poised to observe significant growth in the future. Transparency Market Research estimates that the market was valued at US$418.0 mn in 2015 and is expected to reach US$643.5 mn by 2024, expanding at a CAGR of 4.9% from 2016 to 2024.
Bovine Segment to Bring in Significant Percentage of Sales
On the basis of animal species, the global clostridium vaccine market is segmented into bovine, ovine, caprine, swine, and poultry. Of these, the swine segment emerged as the most attractive segment of the market in 2015. The large share of the segment in the global market\'s overall revenues can be attributed to the large demand of pork and high awareness about the possibility of swines causing zoonotic diseases.
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Over the forecast period, however, the ovine segment is likely to record the most promising growth rate. The rising prevalence of diseases such as blackleg, black diseases, and black quarter, along with the vast rise in the world\'s ovine population, growing awareness among owners, and government regulations in different geographies will be key to the increased demand for clostridium vaccines across this segment. In addition, the increase in demand for immunization has led to the growth of this segment. Poultry is also expected grow with high growth rate due to increase consumption of poultry goods.
Rising Awareness Regarding Animal Health to Boost Demand across Asia Pacific
Geographically, North America was the leading market for the clostridium vaccine market in 2015. The region accounted for a share of 37.6% of the market and is expected to continue to constitute the bulk of the global market's revenue over the forecast period as well. Rising demand for effective veterinary healthcare services and substantial government interventions for research and development are the key factors supporting the North America market's growth.
The swine segment in North America accounted for the dominant share of 25.3% share in 2015. A wide range of applications, including clostridium perfringens and clostridium botulinum are likely to support the growth of the segment in the next few years.
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Nevertheless, the clostridium vaccine market in Asia Pacific is anticipated to outpace the rate of growth of the North America market over the forecast period owing to a vast rise in prevalence of clostridium disease infections in developing countries such as India and China. India and New Zealand are expected to be more lucrative than other countries in Asia Pacific due to increased awareness as well as increasing livestock animal population in these countries. Veterinary clinic as distribution channel holds the dominant market share due to increasing government awareness regarding the diseases across several countries in the region.
The global clostridium vaccine (animal health) market features a largely consolidated competitive landscape, with a relatively small number of companies accounting for a majority of share in the global market. Some of the key players in the market Zoetis, Inc., Merck Animal Health, Sanofi-Aventis (Merial Animal Health), BoehringerIngelheim, Eli Lilly and Company (Elanco Animal Healthcare), Vibrac Corporation, Bimeda, Inc., CevaSanteAnimale, and Bayer AG.
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