Rising humanization and adoption swells the market for companion animal vaccines

Medical - Mohit Shah - Jun 07,2017

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rising humanization and adoption swells the market for companion animal vaccines

As per statistics, the worldwide companion animal vaccines market is expected to rise at a CAGR of 6.8% until 2026.

Companion animal vaccines are used to motivate an immune response in pets such avian, canine and feline. Such vaccine products are available in different types such as Attenuated Live Vaccines, Inactivated Vaccines, Conjugate Vaccines, Subunit Vaccines, Toxoid Vaccines, Recombinant Vaccines and DNA Vaccines. It has been analyzed that, over the years rising humanization of pets along with adoption in developed countries such as the U.S. has driven the market for animal vaccines.

As per an intelligent report published by Market Research Reports Search Engine (MRRSE), the global market for companion animal vaccines is expected to surge at a CAGR of 6.8% during 2016 –2026. At this pace, the market is anticipated to acquire a value of nearly US$ 4,500 million by the end of 2026.

In the current scenario, Furthermore, increasing trend of using pets as a status symbol in several countries is expected to motivate the growth of the animal vaccines sector. Pets are known to offer relief from psychological stress originating from solitary nuclear family structures, which is prevalent in most developed regions. Considering the geographical expanse of companion animal vaccines, the most prosperous regions include North America, Latin America, Eastern Europe and Western Europe.

Further elaborating smart data, the canine species segment is expected to register a 6.9% CAGR by the end of 2026. On the other hand, the Avian species segment was thought to account for 14.1% value share of the overall global market for companion animal vaccines by 2016 end. Currently, the top players from this segment include names like Bayer Healthcare, Boehringer Ingelheim, Vétoquinol S.A, Ceva, Eli Lilly and Company (Elcano), Heska Co., Merial (Sanofi), Merck Animal Health and Virbac and Zoetis (Pfizer).

 

For more information on this report visit- http://www.mrrse.com/companion-animal-vaccines-market-report