Global animal health industry is a booming business in terms of various types of products and services that are available on the market. The market does not simple comprises of pet food and cattle feed, but it also consists of different devices, supplies, supplements, vaccines, medicines and all the other kinds of services. The demand for veterinary care devices and services is on the rise since past few years. Many businesses like dairy farming meat industry predominantly depend on animals. Companion pets segment of the industry is also becoming largely recognized. All these factors are increasing expansion of different sectors of the market that are based on animal health and pet care. Requirement for healthy farm animals, increasing bouts of several life threatening diseases amongst animals and growing businesses are increasing demand and supply chains in global animal vaccines market.
Basic segmentation in the global animal vaccines industry depends on the types of products, technologies and different types of diseases and health conditions. Products available on the market include different types of vaccines for livestock, companion animals, porcine, poultry, aquaculture, equine and other animals. All these types of animals are affected with different types of diseases that need specific treatments. Hence dedicated vaccines are available for all the diseases. Based on technology, the market is segmented into seven different types, which include, live attenuated, inactivated, toxoid, DNA, conjugate, recombinant vaccines and subunit vaccines. Based on geography, the market is largely segmented into four sections, namely, Europe, Asia, North America and rest of the world.
Detailed study of all the segments of the market provides valuable information about the current market trends, challenges, future opportunities and threats for the existing and aspiring business owners for the industry. According to the reports that describe all these factors for the global animal vaccines market for the period of over five years from 2013 to 2018, vaccines market will grow at a steady rate. The market research reports claim that the industry is anticipated to grow at a steady CAGR of over 8% until 2018. At this rate, animal vaccines industry will reach past $8.6 billion by the end of 2018. As of 2013, the market was poised at $5.8 billion in 2013. Emerging and immature market segments from different parts of the world and prevalence of animal diseases provide better business opportunities.
Increasing incidences of zoonotic diseases amongst humans, growing prevalence of animal diseases, especially in the developing regions, expansion plans of leading players, growing restrictions from animal right associations and governments and investments from different governmental bodies are creating better opportunities for the future of animal vaccines industry.