Veterinary Vaccines Market To Witness Robust Growth Due To Increasing Viral Outbreaks In Livestock And Companion Population

 

Overview:

Despite technological advancements in the field of veterinary vaccines, many issues still remain with the current crop of vaccines. Despite the improvements, the majority of vaccines are based on live pathogen strains, which have significant risks that are difficult to mitigate. Additionally, the short shelf-life of vaccines makes them uneconomical for commercial production. Fortunately, some vaccines are making great strides, as shown in the following discussion. Although veterinary vaccines have provided enormous economic benefits to the animal industry, the emergence of concerns regarding the safety of these products has only recently become a focus of public health advocacy.

Market Dynamics:

Increase in the number of viral outbreaks in livestock and companion population is expected to propel growth of the global veterinary vaccines market over the forecast period. Viral outbreak in livestock population such as swine flu, nipah virus, bird flu, and canine influenza and others is growing. For instance, according to statistics from statista, in 2018, the number cases of swine flu (H1N1) in India was 15,266 and it increased to 28,789 in 2019.

However, high cost of storage vaccines, and complex methodology for vaccines is expected to hinder growth of the global veterinary vaccines market over the forecast period.

Global Veterinary Vaccines market is estimated to be valued at US$ 8,482.6 million in 2022 and is expected to exhibit a CAGR of 6.2% during the forecast period (2022-2030).

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