Vaccination has always been an effective approach to reduce disease burden in companion and production animals and is a significant tool in maintaining animal health and welfare. Vaccines are playing a progressively vital role in preventative our pets and farm animals safe from disease.
Various factor such as Increasing incidence of zoonotic diseases, demand for animal products especially dairy & meat, Strategic tie-up by players, and increasing pet ownership across the globe are boosting the growth of global veterinary vaccine market. For instance, as per the data suggested by The American Pet Products Association (APPA), around 65% of the U.S. population owns a pet, and the U.S. pet industry expenditure in 2015 was USD 60.28 billion, which is reach to USD 69.51 billion in 2017. However, lack of awareness, side effects associated with vaccination, and less focus and government programmed towards animal vaccine in comparison to human vaccine may hinder the growth of the market.
Considering such trends in the market, the global veterinary vaccine market is showing the significant growth in coming future.
United State/Europe/India REgulatory Bodies Requirement:
The global veterinary vaccine market can be segmented on the basis of type, application, and region. On the basis of type the global veterinary vaccine market can be divided into oral, subcutaneous, intramuscular, and others veterinary vaccine. In term of application the market can be divided into livestock, companion animal, and others.
On the basis of region, the global veterinary vaccine market can be segmented into Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Europe region hold the largest market share of global veterinary vaccine market consist of countries such as the Germany, France, United Kingdom, Italy, and Spain. Europe leads the market owing to increasing investment in research & development by major players. For instance, in October 2018, the new global center for biological research and development introduce Boehringer Ingelheim at its Lyon Porte-des Alpes (LPA) location in Saint-Priest France. Followed by the Europe, Americas holds the second largest market with countries like United States, Canada, Mexico, etc.
The Asia-Pacific is considering the fastest growing region in coming future owing to presence of emerging market such as China and India. However, the Middle East and Africa region hold the least share in the global veterinary vaccine market.
Some of the major key players in global veterinary vaccine market are Merck Animal Health (US), Zoetis (US), Boehringer Ingelhei (Germany), Ceva (France), Elanco Animal Health (US), Phibro Animal Health (US), and Virbac (France), Bayer AG (Germany).