Market Overview
Animal Vaccines ensure the healthy state of the animal and reduce animal suffering. Furthermore, vaccines enable efficient production of animals to feed the expanding human population and eliminate the need for antibiotics to heal food & companion animals.
According to MarkNtel Advisors' research report, “Global Animal Vaccines Market Analysis, 2021,” the market is likely to grow at a CAGR of around 7.4% in the forecast period of 2021-26. The expanding bursts of cattle disease and the constantly expanding livestock population are the prime factors behind the wide acceptance of vaccines throughout the globe. Besides, the rising trend of pet ownership is also increasing the awareness for domestic animals' health, thereby propelling the market growth. Furthermore, the escalating number of R&D investments initiated by the governments & companies is another potential growth factor of the Global Animal Vaccine Market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 7.4% |
| Regions Covered | North America: USA, Canada |
| Europe: Germany, The UK, France, Spain, Italy | |
| Asia-Pacific: China, India, Japan, Thailand, Australia | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | 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 |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The outbreak of the COVID-19 pandemic has adversely affected various industries. Several countries across the globe imposed nationwide lockdowns, which then led to multiple challenges, supply chain disruptions, and trade limitations in every business. Similarly, the Global Animal Vaccines Market got negatively hit by the pandemic. All veterinary organizations restricted animal care services to acutely ill animals and emergencies. However, investments, support, and funding by various key players have ensured an easy supply flow of animal vaccines to avoid zoonotic viruses from spreading into communities.
