The major factors driving the growth of Animal Vaccines Market include growth in livestock population and repeated breakouts of livestock diseases; increasing adoption of companion animals; rising incidence of zoonotic diseases; initiatives by various government agencies, animal associations, and leading players; and the introduction of new types of vaccines.
By type, the market is segmented into porcine vaccines, poultry vaccines, livestock vaccines, companion animal vaccines, aquaculture vaccines and other vaccines. The livestock vaccines are further divided into two major categories on the basis of the type of animal, namely, bovine vaccines and small ruminant vaccines. Similarly, companion animal vaccines are divided into two segments, namely, canine animal vaccines and feline animal vaccines. In 2017, porcine vaccines segment is expected to account for the largest share of the global veterinary vaccines market, in terms of value. Whereas, the companion animal vaccines segment is expected to register the highest growth rate due to increasing awareness about companion animal vaccination, rising prevalence of zoonotic diseases in humans, and the growing number of pets, and increasing pet ownership.
By disease, the animal vaccines market is classified into poultry diseases, porcine diseases, livestock diseases (bovine diseases and small ruminant diseases), companion animal diseases (canine diseases and feline diseases), and aquaculture diseases. The porcine disease segment is expected to account for the largest share of the animal vaccines market during the forecast period.
In 2017, in terms of value, Europe is expected to account for the largest share of the global market, followed by North America. However, the Asia Pacific region is expected to register the highest growth during the forecast period. Rising pet adoption, expansion of key players in the region, a wide range of product launches, and investments in vaccine manufacturing facilities, especially in India, China, and Thailand, are driving the growth of this regional segment.
The key players in the veterinary vaccines market include Zoetis (US), Merck Animal Health (US), Elanco Animal Health (US), Boehringer Ingelheim (Germany), Ceva (France), Phibro Animal Health (US), and Virbac (France).
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