Global Veterinary Vaccines Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report signifies that the global veterinary vaccines market would register growth at a CAGR of 7.46% over the forecasted years 2022-2028.
The market’s growth is augmented due to factors such as the rise in the animal population & diseases and advancements in vaccines. Moreover, an increase in the demand for companion animals and the expansion of the animal healthcare market also boost its growth.
Meanwhile, the lack of awareness, stringent legalities for vaccine use, and unavailability of skilled veterinarians impede the market’s development process. On the contrary, the market is presented with fruitful opportunities such as expanding the animal healthcare market in Asia-Pacific, rising demand for companion animals, and the growing use of vaccines in the American and European markets.
REGIONAL OUTLOOK
The global veterinary vaccines market encompasses Europe, North America, the Asia-Pacific, and Latin America.
Globally, the Asia-Pacific is estimated to show the fastest growth in the market over the forecasted years. The leading players in China and Japan focus on providing intensive care to their livestock due to the highest consumption of dairy and meat products. In this regard, the development of robust R&D has increased the production of vaccines, thereby supporting the market’s growth.
On the other hand, North America has presented itself as the leader in the veterinary vaccines market. The US is one of the biggest vaccine producers for companion animals, thus boosting the growth of the market.
COMPETITIVE OUTLOOK
The top players governing the veterinary vaccines market include Elanco Animal Health Inc, Virbac SA, Zoetis Inc, Phibro Animal Health, Merck Animal Health, Brilliant Bio Pharma, Hipra, Boehringer Ingelheim International GmbH, Indian Immunologicals Limited, Ceva Sante Animale, Vaxxinova GmbH, and Hester Biosciences Ltd.
Brilliant Bio Pharma is an Indian-based animal health company engaged in animal vaccines, formulation, and nutrition. The company exports its products to more than 30 countries. Additionally, it uses the world’s most advanced vaccine manufacturing system, including bacterial fermentation, freeze-drying, cell propagation, virus culture, plant automation, etc. Rabac VET and FUTVAC are the main selling products in its animal vaccines range.
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