Global Companion Animal Vaccines Market is expected to grow at a CAGR of 6% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Companion Animal Vaccines Market By Type (Attenuated Live Vaccines, Inactivated Vaccines, Conjugate Vaccines, Toxoid Vaccines, DNA Vaccines, Subunit Vaccines, Recombinant Vaccines And Others), Applications (Canine, Avian, Feline), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, And Forecast 2020 To 2027.
The global companion animal vaccines market is expected to grow from USD 2.84 billion in 2019 to USD 4.52 billion by 2027, at a CAGR of 6% during the forecast period 2020-2027. North America is the most dominant player in this market, and it is expected that it will dominate this segment further. The factors leading to the growth of this market are increasing adoption of such animals by people of all age groups, these animals are often friendly to humans and help in reducing stress, using pets as a status symbol is also growing, which is further increasing their adoption. Other factors such as increasing awareness for the health of both humans and pets, NGOs taking care of the health of animals and helping them in various ways is driving the growth of the companion animal vaccines market in this region. Asia-Pacific is anticipated to grow at a significant rate owing to factors such as the increasing population of the livestock, favourable government policies to have disease-free nation in emerging economies, increasing adoption of the pets, investments in R&D, growing distribution channels, and presence of some of the key market players.
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NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.
By the type of vaccines, the market is segmented into Attenuated Live Vaccines, Inactivated Vaccines, Conjugate Vaccines, Toxoid Vaccines, DNA Vaccines, Subunit Vaccines, Recombinant Vaccines and others. Attenuated live vaccines segment accounts for the largest market share. It is the oldest method of vaccination in veterinary. It has helped in reducing the mortality rate and improving the life-span of disease-affected swine. Based on application, the market is bifurcated species-wise into canine, avian, feline. Canine and feline together account for more than 90% of the market share in this segment, whereas equine vaccines hold the smallest market share. Also, Canine vaccines is growing at a high growth rate.
In January 2019, Boehringer Ingelheim International GmbH built a commercial biologics manufacturing unit in China and launched its first veterinary vaccine in the country.
In September 2018, MSD & Co. Inc. launched the PRIME PAC PRRS RR vaccine for porcine reproductive and respiratory syndrome virus (PRRS).
About the report:
The global companion animal vaccines market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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