Latin America Veterinary Vaccines Market 2022-2028
MARKET OUTLOOK
As per Triton’s Market Research report, the veterinary vaccines market in Latin America is predicted to exhibit growth with a CAGR of 7.89% in the forecasted years 2022-2028. Brazil, Argentina, Mexico, and Rest of Latin America together shape the market of this region.
The veterinary vaccines market in Latin America is expanding owing to the trend of owning companion animals and increased demand for nutritious pet products. Additionally, the presence of untapped markets in the region offers great opportunities for the market players to expand their business.
Brazil has the world’s second-largest cow herd population, which increases cattle diseases. In this regard, the demand for veterinary vaccines is growing to combat such diseases. Moreover, the growing population of companion animals and increasing pet health concerns are boosting the growth of the veterinary vaccines market. Similarly, Argentina’s rising cattle and pet population is expected to boost the market for veterinary vaccines.
On the other hand, Mexico has launched a five-year project in Baja California, to vaccinate its cattle population. Such projects have increased the demand for vaccines in the market. Chile presents a lucrative market for veterinary vaccines manufacturers due to the large livestock and companion animals population. Moreover, with the absence of a leading vaccines manufacturer within the country, the market offers ample opportunities for new players. This, in turn, will expand the overall veterinary vaccines market in Chile.
COMPETITIVE OUTLOOK
The major companies in the veterinary vaccines market include Elanco Animal Health Inc, Hester Biosciences Ltd, Indian Immunologicals Limited, Boehringer Ingelheim International GmbH, Virbac SA, and Phibro Animal Health.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook