According to MarkNtel Advisors' research report, "Global Animal Vaccines Market Analysis, 2021," the market is likely to grow at a CAGR of 7.4% in the forecast period of 2021-26. The constant introduction of modern technologically advanced vaccines and the outbreak of livestock diseases are prime factors contributing to the robust growth of the global market and the changing dynamics. The Global Animal Vaccine Market shall witness a trend shift from attenuated vaccines to DNA vaccines and adopting recombinant vaccine solutions.
Key questions answered in the study
Live Attenuated Vaccines to Dominate the Market with the Largest Share
Based on the technology, the market segments into Live Attenuated Vaccines, Livestock Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and various Others like DNA vaccines. Of all, Live Attenuated Vaccines dominated the market in recent years and is likely to continue in the forecast years with the largest market share. It is the oldest vaccination method practiced in the veterinary sector and shall attain more advanced applications in the coming years to give intramuscularly. Live Attenuated Vaccines also help reduce the mortality rate and enhance the life span of the disease-affected animal. Hence, their demand is propelling across the globe and leading the market to attain the largest share.
"Global Animal Vaccines Market Analysis, 2021" provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for Animal Vaccine providers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
Asia-Pacific Exhibits Fastest Growth
The Asia-Pacific region is likely to register the fastest growth in the Global Animal Vaccines Market during 2021-26 due to the exponential growth in the livestock population & government initiatives, particularly in developing economies. In the region, India has a cattle population of 192.5 million, propelling the vaccine demand exponentially. Furthermore, high R&D expenditure by prominent players attempting for the commercialization of veterinary vaccines & inoculations at low prices in the region also drives the market growth substantially. Therefore, Asia-Pacific is likely to contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, "Global Animal Vaccines Market Analysis, 2021."
According to MarkNtel Advisors, the leading players in the Global Animal Vaccines Market are Elanco, Ceva, Phibro Animal Health Corporation, Neogen Corporation, Intas Pharmaceuticals Ltd., Biogénesis Bagó, Ourofino Saúde Animal, Virbac, Zoetis, Merc & Co., Inc., Boehringer Ingelheim International GmbH.