Animal Vaccines Market Will Register 4%+ CAGR From 2019 to 2025

SELBYVILLE, Del., March 26, 2019 (Newswire.com) - Germany animal vaccines market is expected to surpass USD 432.6 million by 2025. Intake of animal source protein is high in Germany. With the intention to curb the spreading of zoonotic diseases, the government in conjunction with companies is taking efforts to develop and introduce new vaccines; this will augment market growth during the projected timeframe.

Global animal vaccines market is expected to surpass USD 9.0 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing demand for animal food and animal products will significantly drive animal vaccines market growth over the forecast period. Reduction in meat prices in developing economies such as China is primary reason for increase in animal products consumption. As per WHO, annual meat production is estimated to reach 376 million tons by 2030. Livestock products are considered as desired food in the majority of countries due to its nutritional value and taste. Aforementioned will considerably favor market growth in the future. 

Farm animal vaccines market will reach USD 6,509.6 million by 2025. Farm animals have been gaining popularity, owing to rising awareness towards animal health coupled with increasing consumers demand for risk-free food. Moreover, higher demand for animal protein and increasing consumer concern over food safety will favor industry growth in the future. 

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Toxoid vaccines market will show significant growth of 4.8% CAGR during the projected timeframe, owing to high adoption rate. Increasing adoption rate is attributable to various technological advances that enhance efficacy and safety of toxoid vaccines. Large number of advantages associated with toxoid vaccines is a major factor for segmental growth in the future. 

Viral vaccines industry accounted for the largest market value of USD 3,792.4 million in 2018. Growth is attributed to increasing number of viral infections that significantly hamper animal farming. Growing prevalence of viral infections such as Newcastle disease and influenza will render positive impact on business growth during the forecast timeframe. 

Injection vaccines business will grow at 4.3% CAGR across the forecast timeframe. High growth is due to various advantages associated with injection vaccines such as improved and quick onset of immunity. Increasing pervasiveness of zoonotic diseases will significantly impact business growth during the forecast timeframe. 

Japan animal vaccines market will witness robust growth at 10.0% CAGR during the projected timeframe. Consumption of meat has been increasing rapidly, giving rise to growing need for animal farming in the country. Vaccination of food animals is a popular practice in Japan. Mandatory vaccination programs for poultry, swine and cattle will foster market growth in the future.

India market is forecast to grow at 10.0% CAGR across the forecast timeframe. Rising awareness about animal health is a predominant factor for increasing demand of animal vaccines products. India is home for more than 10% of global livestock population and ranks among the largest producers of cattle, chicken and fish. Favorable government policies and growing awareness in the country will increase adoption rate of veterinary vaccines, thereby propelling industry growth.

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Some of the prominent players involved in the Animal vaccines market are Boehringer Ingelheim Animal Health, Ceva Sante Animale, Dechra Pharmaceuticals, Durvet, Inc, Elanco, Henry Schein Animal Health, Hipra Animal Health Limited, Merck Animal Health, Neogen Corporation, and Zoetis. These firms adopt strategic initiatives including mergers and acquisitions, new product launch and geographical expansion. For instance, in August 2015, Dechra Pharmaceutical announced the acquisition of Genera d.d., a Croatian company involved in development of animal health products. This acquisition enabled Dechra Pharmaceuticals to enter into veterinary vaccines segment.

Source: Global Market Insights, Inc.