Northrook, IL -- (SBWIRE) -- 12/11/2019 -- Growth in livestock population and repeated breakouts of livestock diseases; increasing adoption of companion animals; rising incidence of zoonotic diseases; initiatives by various government agencies, animal associations, and leading players; and the introduction of new types of vaccines.

What the Market Looks Like?

Predicted to grow at a CAGR of 5.9% during the forecast period, the global Veterinary Vaccines Market is estimated to reach USD 8.66 billion by 2022. The large share of this regional segment can primarily be attributed to the increasing companion animal ownership in the region and the growing focus on improving animal health and productivity.

Growth in livestock population and repeated outbreaks of livestock diseases

Globally, the livestock sector is witnessing increased demand for livestock products such as meat and dairy products. Though this trend has traditionally been evident in developed countries across North America and Europe, demand for livestock products has increased significantly in emerging Asia Pacific and Latin American countries over the past decade. This can primarily be attributed to the growing population in these regions, coupled with the rapid urbanization and economic growth.

Globally, livestock animal population has reported a double-digit percentage increase over the past decade. This significant increase in livestock population is considered a positive indicator for the veterinary vaccines market.

The repeated outbreaks of certain diseases in livestock animals are expected to support growth of the veterinary vaccines market by increasing the focus on animal health and preventive animal healthcare approaches among stakeholders in the livestock sector.

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What Drives the Market?

The growth of the global market for Animal Vaccines is primarily influenced by the following factors:

- Growth in Livestock Population and Repeated Outbreaks of Livestock Diseases.
- Increasing Adoption of Companion Animals.
- Rising Incidence of Zoonotic Diseases.
- Initiatives By Various Government Agencies, Animal Associations, and Leading Players.
- Introduction of New Types of Vaccines.

Geographical growth scenario of Animal Vaccines Market

Geographically, Europe is expected to account for the largest share of the global market, followed by North America. However, the Asia Pacific region is expected to register the highest growth during the forecast period. Rising pet adoption, expansion of key players in the region, a wide range of product launches, and investments in vaccine manufacturing facilities, especially in India, China, and Thailand, are driving the growth of this regional segment.

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Leading market players and strategies adopted

The prominent players in the Zoetis (US), Merck Animal Health (US), Elanco (US), Boehringer Ingelheim (Germany), Ceva (France), Phibro Animal Health (US), Virbac (France), Vetoquinol (France), Hester (India), and HIPRA (Spain).

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