Technically a vaccine is a biological preparation that provides acquired immunity to a particular disease. It typically contains highly weakened disease causing microorganism. It is inserted in the hosts’ body. The body easily destroys it but additionally gain knowledge about that disease. Next time when the same pathogen attacks it reacts with increased vigour and prowess. Veterinary vaccines are specially synthesises for the animals.
The primary end users for this product are the veterinary clinics, households, pet centres, research centres etc.
The following factors are significant in deciding the fate of the market:
Growing acceptance of animals as pets and increase in concern over animals in general is the major driver for the market.
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Various animal meats are consumed across the globe as regular diets. Awareness about animal borne diseases and demand for safe & quality meat has resultant in widespread vaccination of animals and pets. This has greatly boosted the growth of the market.
Lenient drug regulations and release restrictions for animals as compared to humans has also contributed toward the growth of the market.
Lack of awareness in several backward regions of the world is the major restraining factor.
The market can be segmented into the following categories:
On the basis of products:
Companion animal vaccines
On the basis of technology:
On the basis of diseases:
Rift Valley fever
Nipah virus infection
Hendra virus infection
Porcine Reproductive and Respiratory Syndrome virus
Japanese encephalitis Q fever
On the basis of geography:
Middle East and Africa
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Europe is the current leader in the veterinary vaccine market closely followed by the North American region. USA has the largest share in the market globally. The developing nations of Asia Pacific (India, China etc.) and Latin America (Brazil, Argentina, Mexico etc.) are also registering impressive CAGRs.
Some of the key players in the market are:
Ceva Animal Health, Inc.
Merial (Animal Health Division of Sanofi)
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