The report "Veterinary Vaccines Market by Type (Porcine, Poultry, Livestock, Companion Animals), Technology (Live Attenuated, Inactivated, Toxoid), Route of Administration (Injection, Intranasal), Distribution Channel (Hospitals, Clinics) - Global Forecast to 2027", is projected to reach USD 10.8 billion by 2027 from USD 8.1 billion in 2022, at a CAGR of 5.9% during the forecast period. Growth in this market can primarily be attributed to the growing demand for pet insurance and rising animal health expenditure. Spending on pet healthcare—which includes the purchase of pet food, supplies/over-the-counter medications, veterinary care, pet insurance policies, and other services, has increased significantly in recent years. A large number of pet owners, especially in major markets across North America and Europe, are purchasing pet insurance because of the significant growth in pet care expenditure in recent years.
Browse 305 market data Tables and 56 Figures spread through 292 Pages and in-depth TOC on "Veterinary Vaccines Market by Type (Porcine, Poultry, Livestock, Companion Animals), Technology (Live Attenuated, Inactivated, Toxoid), Route of Administration (Injection, Intranasal), Distribution Channel (Hospitals, Clinics) - Global Forecast to 2027"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/animal-veterinary-vaccines-market-1233.html
Injectable vaccines accounted for the largest share of the veterinary vaccines market
Based on the route of administration, the veterinary vaccines market is segmented into injectable vaccines, oral vaccines, and intranasal/spray vaccines. In 2021, injectable vaccines accounted for the largest share of the veterinary vaccines market. This mode of administration allows the medication to be absorbed into the bloodstream quickly. It also results in a better immune response and a lower rate of injection-site reactions, this factors will support the market growth.
The veterinary hospitals segment accounted for the largest share of the veterinary vaccines market
Based on the distribution channel, the veterinary vaccines market is segmented into veterinary hospitals, veterinary clinics, and retail pharmacies. In 2021, the veterinary hospitals segment accounted for the largest share of the veterinary vaccines market. The large share of the veterinary hospitals segment is attributed to the growing awareness about animal health in developing countries.
Asia Pacific segment accounted for the largest share of the veterinary vaccines market
The global veterinary vaccines market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, Asia Pacific segment accounted for the largest share of the veterinary vaccines market. The growing trend of pet ownership in APAC countries has resulted in increased pet healthcare expenditures. This can also be attributed to the growing disposable income levels in APAC countries, due to which the willingness to spend on animal healthcare and well-being is rising.
The major players in the veterinary vaccines market include Zoetis, Inc. (US), Merck & Co, Inc. (US), Boehringer Ingelheim International GmbH (Germany), Elanco Animal Health (US), Virbac (France).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441