According to a new report, published by KBV research, The Global Veterinary Vaccines Market size is expected to reach $11.6 billion by 2029, rising at a market growth of 5.8% CAGR during the forecast period.
The Intranasal/Spray Vaccines segment is showcasing a CAGR of 6.6% during (2023 - 2029). This is because intranasal vaccines are typically only administered in single doses. Animal respiratory infections are becoming more common, and market players are investing more in research to provide better vaccines, which is projected to boost the segment's expansion in the projected period.
The Livestock Vaccines segment is leading the Global Veterinary Vaccines Market by Type in 2022 thereby, achieving a market value of $4.2 billion by 2029. This owing to the use of vaccines to guard against illnesses in livestock including rotavirus, pinkeye, E. coli, and contagious bronchitis. To treat these illnesses, veterinarians have access to general vaccines, and also autogenous vaccines are accessible for some diseases. Hence, these factors are expected to surge the segment's expansion in the projected period.
The Inactivated Vaccines segment has shown the growth rate of 6% during (2023 - 2029). This is due to the fact that if the recommended dosing and booster schedule are followed, inactivated vaccines can offer a high level of protection against disease. The protection provided by inactivated vaccines is of a very high grade if it is administered as instructed. Animals with immune problems can receive inactivated vaccines because dead germs don't aggressively attack the human body. Hence these factors are expected to propel the segment's expansion.
The Veterinary Hospitals segment is generating highest revenue share in the Global Veterinary Vaccines Market by Distribution Channel in 2022, thereby, achieving a market value of $5.6 billion by 2029. This is because animals can receive the best care possible at hospitals. Due to their superior team and equipment, they can offer their clients the greatest services. These hospitals regularly engage in R&D to improve available therapies and vaccines, and the rising incidence of veterinary diseases is anticipated to support the segment's growth.
The Asia Pacific market dominated the Global Veterinary Vaccines Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $4.2 billion by 2029. The Europe market is experiencing a CAGR of 5.3% during (2023 - 2029). Additionally, The North America market would showcase a CAGR of 5.1% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/veterinary-vaccines-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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