Veterinary vaccines is the most lucrative product segment of focus for veterinary drug manufacturers, followed closely by parasiticides. Given the preventive nature of veterinary healthcare, the veterinary vaccine market is estimated to witness considerable revenue traction over the coming years. With increasing incidence of food-borne zoonotic diseases, global animal production has reduced by 15%–20% a year. Growing pet animal adoption trend due to increasingly secluded lifestyles, ageing global population and increasing per capita income levels are factors promoting demand for companion animal vaccines. Effective harmonization of product development, registration and approval guidelines could reduce time-to-market for veterinary vaccines. This could benefit all key stakeholders in the veterinary vaccine value chain – governments, drug makers, distributors, farm owners and pet animal owners.
The global veterinary vaccines market is anticipated to reach US$ 7.24 Bn in 2016, up from US$ 6.82 Bn in 2015. Demand for veterinary vaccines is witnessing an increase, as focus shifts from cure to prevention among farm- and pet- owners. The global pet humanisation trend is massively influencing demand for veterinary healthy products and services, and vaccines are riding on the coattails of this trend.
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Key players in the global veterinary vaccines market include Merial, Zoetis, Elanco, Merck & Co. Inc, Boehringer Ingelheim GmbH (BIVI), Bayer Pharma AG, Ceva, Virbac, Diamond Animal Healthcare (Heska) and Indian Immunological Ltd.