Yahoo Finance Animal Vaccine Market Value - US$12.5 Bn By 2028 Says Acumen Research and Consulting Experts
Acumen Research and Consulting recently published report titled “Animal Vaccine Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028”.
LONDON, Sept. 27, 2021 (GLOBE NEWSWIRE) -- The global animal vaccine market is expected to grow at a CAGR of around 7.5% from 2021 to 2028 and expected to reach the market value of around US$ 12.5 Bn by 2028.
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Report coverage
Market | Animal Vaccine Market |
Analysis Period | 2017 - 2028 |
Base Year | 2020 |
Forecast Data | 2021 - 2028 |
Segments Covered | By Product, By Animal Type and By Geography |
Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled | Merck & Co., Inc., Boehringer Ingelheim International GmbH, Ceva, Intas Pharmaceuticals Ltd, Neogen Corporation, Biogénesis Bagó, Zoetis, Elanco Animal Health, Pfizer Inc |
Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Customization Scope | 10 hrs of free customization and expert consultation |
North America holds the dominating share in the global animal vaccine market; Asia Pacific will have the fastest growing CAGR in the coming years.
High government involvement and presence of giant biopharmaceutical companies in the region impact positively for accounting considerable share in North America. According to a report released by Animal and Plant Health Inspection Service (APHIS) and U.S. Department Of Agriculture (USDA), the National Animal Vaccine and Veterinary Countermeasures Bank (NAVVCB) proposed a three-part program in relation to Farm Bill pinpointing in support of animal disease prevention and management in 2018. APHIS officials, on the other hand, held lengthy discussions with stakeholders and industry with the primary goal of designing a much larger vaccine doses for widespread availability under the name of the North American Foot and Mouth Disease Vaccine Bank, which is a newly developed specifically for the US. Furthermore, APHIS announced that the North American Foot and Mouth Disease Vaccine Bank will continue to participate for this new program and help it expand across US.
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Asia Pacific, on the other hand, is expected to have the fastest growing CAGR in the animal vaccine market in the coming years. Factors driving growth include a rapid increase in livestock population, increased awareness about animal health, and an increase in the frequency of animal disease outbreaks, all of which present lucrative opportunities for regional growth. Furthermore, strong government support is fueling the growth of the regional market for animal vaccine. In 2012 and 2013, World Small Animal Veterinary Association (WSAVA) asked several Asian countries to develop advice for veterinary practitioners in Asia in relation to administration of vaccines to small animals effectively. Moreover, in 2012, the WSAVA’s Vaccination Guidelines Group (VGG) launched a new two-year project focusing on the vaccination requirements for small companion animals in Asia. These factors have a positive impact on the overall market growth of the animal vaccine market.
Some of the leading competitors are MSD Animal Health (a division of Merck & Co., Inc.,) Boehringer Ingelheim International GmbH, Ceva, Intas Pharmaceuticals Ltd, Neogen Corporation, Biogénesis Bagó, Zoetis, Elanco Animal Health, Pfizer Inc., and among others .
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Some of the key observations regarding animal vaccine market include:
In January 2020, MSD Animal Health, a division of Merck & Co., Inc., launched the "Innoject Pro," a newly designed subcutaneous chick vaccination technology. The new product improves injection accuracy and stability during the vaccination process, reducing stress in chicks and increasing safety. This technology will be combined with MSD Animal Health's Innovax for a variety of vaccine administration, including a unique vaccine that provides long-term protection against NSD, Infectious Bursal Disease (IBD), and Marek's Disease (MD) in a single dose.
In January 2021, Zoetis, has announced the release of a new product called "Poulvac ProcertaTM HVT-IBD." Because of the level of protection it provides and the early protection it provides against IBD virus, involving the predominant AL2 variant, the newly launched product is a valuable tool for managing IBD.
In August 2019, Elanco Animal Health, announced the signing of a definitive agreement to acquire Bayer's Animal Health division. The transaction was worth US$7.6 billion USD. The partnership is highly complementary, resulting in the creation of the number two animal health company, with top three positions across a wide range of species and geographies. Furthermore, it expands Elanco's product portfolio of leading global brands and strengthens the company's innovation capabilities and R&D pipelines.
In September 2020, - Pfizer Inc., preliminary preclinical data from their BNT162b2 mrNA-based vaccine program against COVID-19 disease were announced in mouse and non-human primate models. These preclinical findings, combined with our clinical data to date, continue to support the promise and validity of an mRNA-based vaccine program that has the potential to prevent millions of COVID-19 cases in animal.
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Market Segmentation
The global animal vaccine market is segmented into product and animal type. Based on product type, the market is segregated as attenuated live vaccines, inactivated vaccines, subunit vaccines, DNA vaccines, and recombinant vaccines. By animal type, the market is segmented into poultry, aqua, ruminants, companion, and swine.
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