Animal Vaccines Market to Generate $15.20 Billion, By 2030 at 5.2% CAGR: Allied Market Research

PORTLAND, Ore., Jan. 21, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Animal Vaccines Market by Type (Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, Conjugate Vaccines, Recombinant Vaccines, and DNA Vaccines) and Animal Type (Companion Animal, Livestock Animal, and Aquaculture): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global animal vaccines industry garnered $9.09 billion in 2020, and is estimated to generate $15.20 billion by 2030, witnessing a CAGR of 5.2% from 2021 to 2030.

For Right Perspective and Competitive Insights, Get Sample Report at: https://www.alliedmarketresearch.com/request-sample/1988

Drivers, Restraints, and Opportunities

Increase in demand for pet insurance, surge in prevalence of animal diseases, rise in expenditure for animal health, and increase in ownership of companion animals propel the global animal vaccines market growth. However, highly competitive meat and milk prices and fatal effects of veterinary vaccines on human and animal health restrain the market growth. Contrarily, advancements in vaccine products and increase in demand for hybrid animal present new opportunities in coming years.

Covid-19 Scenario

• The Covid-19 pandemic impacted the animal vaccine market negatively. The veterinary organizations recommended restraints on animal patient care and postponed the surgery of animals with mild illnesses. However, surgeries and vaccination procedures of acutely ill animals were carried out.
• The lockdown measures led to postponement of annual checkups and elective vaccination processes. However, the supply of animal vaccines led to disruptions due to challenges in supply chain.

The attenuated vaccines segment to continue its lead position during the forecast period

Based on product, the attenuated vaccines segment accounted for the largest market share in 2020, contributing to nearly two-fifths of the global animal vaccines market, and is estimated to maintain its lead position by 2030. This is due to presence of advanced technologies for specific mutations/deletions in the virus genes. However, the DNA vaccines segment is expected to register the fastest CAGR of 8.1% during the forecast period, owing to surge in prevalence of animal diseases and ease in manipulation in comparison to traditional vaccines.

Do You Have Any Query Or Specific Requirement? Ask to Our Industry Expert: https://www.alliedmarketresearch.com/purchase-enquiry/1988

The livestock segment to continue its leadership status in terms of revenue by 2030

Based on animal type, the livestock animal segment held nearly than two-thirds of the global animal vaccines market in 2020, and is expected to maintain its leadership status based in terms of revenue by 2030. This is attributed to increase in the prevalence of infectious diseases among livestock animals and rise in awareness about immunization. However, the companion animal segment is projected to portray the largest CAGR of 5.5% during the forecast period, owing to rise in awareness regarding medical illnesses & ailments of companion animals and surge in animal healthcare expenditure worldwide.

North America to maintain its highest contribution throughout the forecast period

Based on region, North America contributed to the highest market share in 2020, accounting for nearly two-fifths of the total market share of the global animal vaccines market, and is estimated maintain its dominance throughout the forecast period. This is attributed to already-established veterinary organizational structures and concerns regarding animal health among people. However, Asia-Pacific is projected to witness the highest CAGR of 5.9% during the forecast period, owing to rise in need of livestock protection from mass wipeouts with the outbreak of epidemics.

Leading Market Players

• Merck & Co., Inc.
• Zoetis Inc.
• Ceva Santé Animale
• Sanofi S.A.
• Romvac
• Vaxxinova
• Biovac
• Merial
• Boehringer Ingelheim GmbH
• Anicon Labor GmbH

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter

"We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market."

Trending Reports in Healthcare Industry (Book Now with 10% Discount):

Small Animal Imaging (In-Vivo) Market - Global Opportunity Analysis and Industry Forecast, 2020–2030

Veterinary Diagnostics Market - Global Opportunity Analysis and Industry Forecast, 2020-2030

Veterinary Medicine Market - Global Opportunity Analysis and Industry Forecast, 2020-2030

Veterinary Pain Management Market - Global Opportunity Analysis and Industry Forecast, 2020–2030

Veterinary Monitoring Equipment Market - Global Opportunity Analysis and Industry Forecast, 2020–2030

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Contact:

David Correa5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com/reports-store/life-sciences
Follow Us on LinkedIn: https://www.linkedin.com/showcase/life-sciences-industry-research/

View original content:https://www.prnewswire.com/news-releases/animal-vaccines-market-to-generate-15-20-billion-by-2030-at-5-2-cagr-allied-market-research-301465554.html

SOURCE Allied Market Research