The global technical foam market size is estimated at USD 9.1 billion in 2020 and is projected to reach USD 15.7 billion by 2025, at a CAGR of 11.6% from 2020 to 2025. The increase in demand for technical foam from the automotive & transportation sector and the rising demand for acoustic solutions to tackle noise pollution are the major factors responsible for the market growth of technical foam. The increase in industrialization has also helped trigger the growth of the technical foam market.
Boehringer Ingelheim (Germany), Zoetis (US), Merck Animal Health (US), and Elanco (US) are the key players operating in this market. Other prominent players are Ceva (US), Virbac (France), Vetoquinol (France), Phibro Animal Health (US), Hester Biosciences (India), HIPRA (Spain), Biogenesis Bago (Argentina), Tianjin Ringpu (China), China Animal Husbandry (China), Jinyu Biotechnology (China), and Endovac Animal Health (US).
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Boehringer Ingelheim is the largest player in the global veterinary vaccines market. In January 2017, Boehringer Ingelheim and Sanofi (France) completed the exchange of Sanofi’s animal health business (Merial) with Boehringer Ingelheim’s consumer healthcare (CHC) business. With its noticeable product offerings and adoption of growth strategies such as product launches, joint ventures, and expansions, Boehringer Ingelheim has maintained its leading position in this market.
Merck Animal Health is the second-largest player in the global veterinary vaccines market. The company focuses on organic growth strategies such as product launches and expansions and inorganic growth strategies such as acquisitions, partnerships, and collaborations. The company signed six partnership agreements between 2017 and 2020, as well as acquired two companies in this period.
Veterinary Vaccines Market by Disease (Swine Pneumonia, Avian Influenza, Rabies, Coccidiosis, Brucellosis, Canine Distemper), Type (Poultry, Livestock, Aquaculture, Porcine, Canine), Technology (Inactivated, Toxoid, Recombinant) - Global Forecast to 2025
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