LONDON, Nov. 10, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the veterinary vaccines market, future trends for veterinary vaccines include an increasing demand for mRNA vaccines. Vaccines consisting of mRNA converts a protective antigen from the pathogen of interest to offer a new approach to development of veterinary immunoprophylaxis. In these vaccines, cell culture and viral propagation is not a requirement for production. Therefore, these vaccines can be manufactured rapidly at affordable rates. These characteristics make mRNA vaccines a strong choice for development with newly emerging viruses for species of veterinary importance.
Companies that deal with veterinary vaccines are also increasingly investing in toxoid vaccines. Toxoid vaccines use a toxin (harmful product) made by the germ that causes a disease. They create immunity to the parts of the germ that cause a disease instead of the germ itself. That means the immune response is targeted to the toxin instead of the whole germ. They are projected to gain traction in the overall animal healthcare sector. This can be attributed to the product’s impeccable benefits, like long-lasting immunity and high stability, immune response to original toxin, and less susceptibility to changes in humidity and temperature. In the year 2023 it was revealed that toxoid vaccines are being largely used against bacterial diseases such as diphtheria and tetanus to augment the immune response.
The veterinary vaccines market is segmented by vaccine type into live attenuated vaccines, inactivated vaccines, recombinant vaccines, and others. The live attenuated vaccines is the largest segment of the veterinary vaccines market by vaccine type, accounting for $3,574.4 million or 40.6 % of the total market in 2020. The live attenuated vaccines market is expected to be the fastest-growing segment going forward at a CAGR of 16.4%.
The Business Research Company’s report titled Veterinary Vaccines Global Market Report 2023 – By Application (Livestock Vaccines, Companion Animal Vaccines), By Vaccine Type (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines), By Disease Type (Anaplasmosis, Canine Parvovirus, Foot & Mouth Disease, Newcastle Disease, Distemper Disease, Influenza, Porcine Reproductive & Respiratory Syndrome (PRRS)), COVID-19 Impact And Recovery covers major veterinary vaccines companies, veterinary vaccines market share by company, veterinary vaccines manufacturers, veterinary vaccines market size, and veterinary vaccines market forecasts. The report also covers the global veterinary vaccines market and its segments.
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The global veterinary vaccines market is expected to grow from $7 billion in 2020 to $7.73 billion in 2023 at a compound annual growth rate (CAGR) of 10.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.18 billion in 2025 at a CAGR of 7.1%.
The global veterinary vaccines market is concentrated, with a few large players. The top ten competitors in the market made up to 63.45% of the total market in 2020. Major players in the market include Zoetis Inc., Boehringer Ingelheim GmbH, Merck & Co. Inc., Elanco Animal Health Incorporated, Ceva Santé Animale and others.
North America was the largest region in the veterinary vaccines market, accounting for 42.0% of the global market in 2020. It was followed by Asia Pacific, Western Europe and the other regions. Going forward, the fastest growing regions in the veterinary vaccines market will be Africa and South America, where growth will be at CAGRs of 25.4% and 22.3% respectively from 2020-2025.
Veterinary Vaccines Global Market Report 2023 – COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provide veterinary vaccines market overviews, veterinary vaccines market analyze and forecast market size and growth for the whole market, veterinary vaccines market segments and geographies, veterinary vaccines market trends, veterinary vaccines market drivers, veterinary vaccines market restraints, veterinary vaccines market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Companion Animal Veterinary Vaccines Global Market Report 2023 – By Product (Inactivated, Live Attenuated, Recombinant), By Route Of Administration (Oral, Parenteral), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores), COVID-19 Growth And Change
Veterinary Disposables Global Market Report 2023 – By Type (Critical Care Consumables, Wound Management Consumables, Fluid Administration and Therapy Consumables, Airway Management Consumables, Gastroenterology Consumables, Needles), By Animal Type (Small Animals, Large Animals), By End User (Veterinary Clinics, Veterinary Hospitals, Research Institutes), COVID-19 Growth And Change
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