Asia-pacific Veterinary Vaccines Market 2022-2028
MARKET OUTLOOK
Triton Market Research has estimated that the veterinary vaccines market in the Asia-Pacific region will advance at 8.79% CAGR during the forecasting years 2022 to 2028. Japan, India, China, Australia & New Zealand, South Korea, ASEAN Countries, and Rest of Asia-Pacific outline the market in the given region.
The Asia-Pacific offers lucrative opportunities for the veterinary vaccines market players. The focus of international players on investments, R&D, and manufacturing facilities enhances the importance of veterinary vaccines. Moreover, support from the government to control and eradicate animal disease has further boosted the market’s growth.
China is the 3rd largest country to have 95 million units of cattle. In this regard, it has emerged as the leading player in the veterinary vaccines market. Moreover, China is the largest pork producer globally, making it an important market for the veterinary manufacturing business. Also, the increasing livestock population in the country has escalated the demand for the vaccine business. Such factors have benefitted the growth of the veterinary vaccines market.
Similarly, India has the largest livestock population worldwide and ranks in the top 5 countries in aquaculture and global fish production. Animal husbandry is counted as one of the country’s major sources of economic growth, making it necessary for the country to preserve animal life. As a result, all these factors widen the growth of the veterinary vaccines market in India.
COMPETITIVE OUTLOOK
The leading companies in the veterinary vaccines market include Elanco Animal Health Inc, Boehringer Ingelheim International GmbH, Indian Immunologicals Limited, Merck Animal Health, Hipra, and Phibro Animal Health.
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