The Latin America, Middle East and Africa Veterinary Vaccines Market would witness market growth of 9.1% CAGR during the forecast period (2023-2029).
The growing need for vaccines for non-infectious diseases, such as allergies and malignancies, has also contributed to the market growth. Another significant driver of veterinary vaccine research and development is the urgent need to protect humans from zoonoses. The creation and implementation of vaccinations for domestic canines to protect humans from rabies is a prime example. Each of these approaches is unique and, as such, has advantages and disadvantages in achieving the stated objectives. For instance, the consistent demand for inactivated whole-pathogen vaccines for booster immunizations has boosted the market revenue.
Live attenuated vaccines and DNA vaccines are now highly lucrative markets. In recent years, live attenuated vaccines have contributed significantly to the market. Key advantages have mitigated the segment's headwinds, namely their ability to express a broader range of relevant pathogen antigens, their alleged efficacy against protozoan or helminth parasites, and their effectiveness without the need for an adjuvant. A prime instance in point is the influx of market participants' R&D expenditure on developing the BCG vaccine against bovine tuberculosis. Research and development in live attenuated and DNA vaccines are expected to yield enormous revenue gains for market participants.
Brazil is home to one of the world's largest and busiest pet industries. Brazilians have recently begun treating their dogs as family members, and the nation has embraced the concept of animal humanization. As a result of advancements, many customers are willing to spend more time or money to purchase superior, natural pet supplies. In addition, the desire of owners for their dogs to live long, healthy lives have also led to a rise in spending on welfare and healthcare items like vaccines to save them from illnesses. This will encourage market growth in LAMEA.
The Brazil market dominated the LAMEA Veterinary Vaccines Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $243.8 million by 2029. The Argentina market is exhibiting a CAGR of 9.7% during (2023 - 2029). Additionally, The Egypt market would showcase a CAGR of 8.1% during (2023 - 2029).
Based on Route of Administration, the market is segmented into Injection Vaccines, Oral Vaccines and Intranasal/Spray Vaccines. Based on Type, the market is segmented into Livestock Vaccines, Porcine Vaccines, Companion Animal Vaccines, Poultry Vaccines, Aquaculture Vaccines and Others. Based on Technology, the market is segmented into Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines and Others. Based on Distribution Channel, the market is segmented into Veterinary Hospitals, Veterinary Clinics and Retail Pharmacies. Based on countries, the market is segmented into Brazil, Argentina, Egypt, Tanzania, South Africa, Nigeria and Rest of LAMEA.
Free Valuable Insights: The Worldwide Veterinary Vaccines Market is Projected to reach USD 11.6 billion by 2029, at a CAGR of 5.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zoetis, Inc., Merck & Co., Inc., Boehringer Ingelheim International GmbH, Elanco Animal Health, Inc., Virbac, Ceva Santé Animale, Neogen Corporation, Intas Pharmaceuticals Ltd. and Laboratoire LCV.
By Route of Administration
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