Veterinary vaccines are used for the avoidance of a variety of diseases which affects animals that can be assembled in veterinary vaccines. Because of the preventive capability of veterinary healthcare services, the veterinary vaccine market is assessed to witness substantial growth. The worldwide market for veterinary vaccines is anticipated to account for a value at US$ 14149 Million by the end of the forecast year 2026, registering a reasonable CAGR in terms of value.
Based on vaccination type, the worldwide market is categorized into recombinant vaccines, inactivated vaccines, attenuated live vaccines, DNA vaccines, toxoid vaccines and others. The attenuated live vaccines are the biggest segment that is was projected to reach around US$ 90 Million or over 30% market shares in 2016. The segment will be reaching over US$ 150 Million, registering a CAGR of 5.8% throughout the assessment period.
Based on disease indication, the overall market is divided into avian influenza, new castle disease, foot and mouth disease, PPRS (porcine reproductive & respiratory syndrome), distemper disease, brucellosis, influenza, canine parvovirus, anaplasmosis and others. The foot & mouth disease at present is considered to account for maximum market share.
Based on the animal type, the overall market is categorized into companion animals (includes feline, avian and canine) livestock animals (includes porcine, bovine, aquatic, small ruminant and poultry) and equine. The livestock animals category will be witnessing comparatively remarkable growth over the said period.
Based on distribution channel, the overall market is divided into veterinary research institute, private veterinary pharmacies, veterinary clinics, hospital pharmacies and others. The veterinary clinics will be accounting for maximum market share and will be recording a 7.1% CAGR throughout the projection period.
By region, the worldwide market for veterinary vaccines has been categorized into Latin America, Asia Pacific Excluding Japan, North America, Eastern Europe, Western Europe, Japan and Middle East & Africa (MEA). North America is considered to be accounting for the maximum market share of approximately 30.4% in 2016 in terms of revenues in the overall market. The Western Europe market is considered to be the second biggest market in revenue terms. In the meantime, revenue from the Asia Pacific excluding Japan market is likely to register at the maximum CAGR of about 9.1% throughout the conjecture time frame. At present, there are merely six countries that have the provision to manufacture vaccines locally. These countries include Saudi Arabia, Jordan, Egypt, Syria, Sudan and Turkey.
Key Market Players
The prominent companies in the worldwide market for veterinary vaccines consist of: Zoetis, Merial, Merk & Co. Inc., Elanco, Bayer Pharma AG, Boehringer Ingelheim GmbH )(BIVI), Verbac, Ceva, Indian Immunological Ltd., Diamond Animal Healthcare (Heska)
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