Veterinary Vaccines Market will rise to US$11.40 Billion by 2024

Veterinary vaccines often prove themselves to be live-savers for animals against diseases that are generally fatal or leave them impaired or handicapped. Veterinary vaccines thus offer protection to animals similar to the way humans are vaccinated against potentially incurable diseases. The way veterinary vaccines work may be different than human vaccines however. It is often encouraged for pet owners to vaccinate their pets regularly as it is much cheaper than opting for the treatment of a sick animal. It also helps reduce the transmission of germs and bacteria within animals and thus ensures a healthier environment for all animals and pets in an area. In the case of livestock, vaccination promotes a healthier output and prevents the transmission of harmful microorganisms to humans upon consumption of meat of animal products. The common diseases for which pets and livestock are vaccinated include brucellosis, pinkeye, E. coli, and rotavirus.

The report on the global veterinary vaccines market offers a descriptive analysis of the factors that have been – and will be – responsible for the progress rate of the market. These factors are dissected based on the various segments available in the market for study and player diversity. The report uses all current and recent data to effectively pinpoint the situation the global veterinary vaccines market is in currently and what it will look like in the near future. The analysis of the global veterinary vaccines market is performed using tried and tested industry standards such as Porter’s Five Forces analysis and the SWOT analysis. The report also provides a highly in-depth view of the competitive landscape of the global veterinary vaccines market and its predicted future tense.

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The primary driver boosting the global veterinary vaccines market is the growing consumption of animal products across the world. With a large human population associated with the demand for dairy, meat, fish, and eggs, it is necessary for the animal husbandry industry to spruce up its vaccination policies and rates. In the case of pets, the amount of pet owners in the world has also gone up considerably over the past few years. Market research points to an even higher number of pet owners by 2024. At the same time, the expenditure made by each pet owner for the health and happiness of their pets has risen significantly, further pointing to a progressively inclined rate of veterinary vaccination.

The problem of high restrictions still persists in the global veterinary vaccines market as players are often barred from commercial entry due to the high market standards, regulatory restriction, and the high cost of research and development efforts. Many governments have stepped in, providing incentives and awareness initiatives for the sake of getting a larger population of the domesticated animal kingdom to be protected from harm.

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The global veterinary vaccines market is expected to reach US$11.4 bn by 2024, after being projected at a CAGR of 6.9% from 2016 to 2024. Regionally speaking, a large chunk of this current growth rate is attributed to the high demand shown by North America and its growing populations of pet owners and livestock. The emerging economies from Asia Pacific, Latin America and the Middle East are simultaneously showing a very high growth rate in their consumption of veterinary vaccines owing to greater awareness and an increasing demand for animal products.

The key players in the global veterinary vaccines market include Bayer AG, Boehringer Ingelheim GmbH, Bimeda, Inc., Virbac, Eli Lilly and Company (Elanco Animal Health), Ceva Santé Animale, Sanofi S.A. (Merial Animal Health), Merck Animal Health, and Zoetis, Inc.

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