Pet Vaccine Market to Grow with a CAGR of 6.15% through 2028
Vaccine
advancements and Emerging infectious diseases are factors driving the global Pet
Vaccine market in the forecast period 2024-2028.
According to TechSci Research report, “Pet Vaccine Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Pet Vaccine Market stood at USD 9.04 billion in 2022 and is
anticipated to grow with a CAGR of 5.93% in the forecast period, 2024-2028. The Pet Vaccine
Market is a dynamic sector within the veterinary industry, driven by the
increasing adoption of companion animals worldwide. Pet owners' growing
awareness of the importance of preventive healthcare and the rising prevalence
of diseases in pets are key factors fueling market growth. Vaccines play a
pivotal role in safeguarding pets from a spectrum of contagious and potentially
life-threatening diseases. Advancements in vaccine technology, including
personalized and mRNA-based vaccines, are reshaping the market. Additionally,
stringent regulations and mandates for certain vaccinations, such as rabies,
bolster market stability. The future of the Pet Vaccine Market looks promising
as pet ownership continues to rise.
One
key driver for the Pet Vaccine Market is the increasing awareness of preventive
healthcare among pet owners. As people increasingly view their pets as integral
members of the family, they are more inclined to invest in their well-being.
This heightened awareness has led to a proactive approach to pet healthcare,
with vaccination being a crucial component. Pet owners recognize that vaccines
are a cost-effective and efficient way to protect their beloved animals from a
range of preventable diseases. This shift in mindset drives higher vaccination
rates, fosters a sense of responsibility, and fuels the demand for pet
vaccines, contributing significantly to market growth.
Browse over XX market data Figures spread through XX Pages and an
in-depth TOC on "Pet Vaccine Market.”
The Global Pet Vaccine Market is segmented into Animal Type, Vaccination,
Mode of Administration, region and company.
Based on Animal Type, The feline segment is one of the fastest growing
in the Pet Vaccine Market due to several key factors. Firstly, there's been a
noticeable increase in cat ownership, with cats becoming popular pets
worldwide. Secondly, cats can be susceptible to a variety of diseases, some of
which can be transmitted to humans, emphasizing the importance of vaccination
for feline health and public safety. Thirdly, research and development efforts
have led to the introduction of innovative vaccines for cats, such as those
targeting feline leukemia virus and feline immunodeficiency virus. These
factors combined have fueled a surge in demand for feline vaccines, driving
their rapid market growth.
Based on region, The Asia-Pacific region is experiencing the fastest
growth in the Pet Vaccine Market due to a confluence of factors. Firstly, the
region's rising affluence has led to increased pet ownership, especially among
urban populations. This expanding pet demographic drives the demand for
vaccines. Secondly, greater awareness of pet health and the role of vaccines in
disease prevention is fostering a proactive approach to pet care. Thirdly, a
burgeoning middle class in Asia-Pacific is more willing to invest in advanced
veterinary healthcare, including vaccination. Lastly, favorable economic
conditions and increased pet insurance coverage further support the growth of
the pet vaccine market in the region.
Major companies operating in Global Pet Vaccine Market are:
- Bayer
AG
- Elanco
US Inc.
- Merck
KGaA
- Merial
Inc.
- Virbac
SA
- Zoetis
Inc
- Phibro
Animal Health Corporation
- Boehringer
Ingelheim GmbH
- Tianjin
Ringpu Bio-Technology Co., Ltd
- Vetoquinol
SA
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“The future of the Pet Vaccine Market is poised for continued expansion
and innovation. Increasing pet ownership, a growing awareness of preventive
healthcare, and ongoing advancements in vaccine technology are expected to
drive sustained market growth. Personalized vaccines tailored to individual
pets and the use of cutting-edge mRNA technology will become more prevalent.
Furthermore, the COVID-19 pandemic has heightened the importance of zoonotic
disease prevention, emphasizing the role of vaccines in safeguarding both
animal and human health. As the bond between pets and their owners strengthens,
the demand for comprehensive and effective pet vaccines is likely to remain
robust, shaping the market's future positively.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Pet Vaccine Market, 2028- Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028 Segmented By Animal
Type (Canine, Feline, Equine), By Vaccination (Canine Family, Feline Family,
Others), By Mode Of Administration (Injectable Vaccines, Intranasal Vaccines), By Region, By Competition Forecast &
Opportunities, 2018-2028F”, has evaluated the future growth potential of Global
Pet Vaccine Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Pet Vaccine Market.
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