The Global Veterinary Vaccines Market to Grow at 6.68% CAGR by 2028

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The Global Veterinary Vaccines Market to Grow at
6.68 CAGR by 2028

• Triton Market Research presents the Global
  Veterinary Vaccines Market report segmented by
  Animal Type (Companion Animals Canine, Feline,
  Equine, Livestock Animals Cattle, Pigs,
  Poultry, Sheep, Other Livestock Animals,
  Aquaculture), by Disease Type (Aquaculture
  Disease, Poultry Disease, Canine Disease, Bovine
  Disease, Porcine Disease, Other Disease Types),
  by Product Type (Inactivated Vaccines, Toxoid
  Vaccines, Subunit Vaccines, Attenuated Vaccines,
  DNA Vaccines, Conjugate Vaccines, Recombinant
  Vaccines), by Regional Outlook (North America,
  Europe, Asia-Pacific, Latin America, Middle East
  and Africa).
• It also discusses the Market Summary, Industry
  Outlook, Key Insights, Porters Five Forces
  Analysis, Market Attractiveness Index, Value
  Chain Analysis, Key Buying Criteria, Regulatory
  Framework, Vendor Scorecard, Key Market
  Strategies, Drivers, Challenges, Opportunities,
  Competitive Landscape, Research Methodology
  Scope, Global Market Size, Forecasts Analysis
  (2022-2028).
• Triton Market Research has put forth that the
  Global Veterinary Vaccines Market would evolve at
  a CAGR of 7.46 over the estimated period 2022 to
  2028.

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The demand for companion animals is rising,
especially among the urban population. Animals
such as cats and dogs are in high demand, as some
people are genuinely fond of them and treat their
pets as family members. These animals are highly
prone to developing diseases, which makes it
important to administer them vaccines. The
increasing adoption of companion animals is thus
expected to offer lucrative growth opportunities
for the adoption of veterinary vaccines. However,
the shortage of skilled veterinarians and animal
health professionals, who can diagnose diseases
and provide effective solutions like vaccines is
hindering the growth of the studied market. The
Asia-Pacific region is expected to showcase the
fastest growth in the global market over the
considered period. In May 2021, the Association
of Southeast Asian Nations (ASEAN) and the World
Organization for Animal Health (OIE) signed a new
MoU in a bid to strengthen their bond and further
support the prevention, control, and eradication
of animal diseases in the region. Their regional
animal disease control programs include classical
swine fever, African swine fever, and peste des
petits ruminants (PPR). Initiatives such as this
are fostering the growth of the market in the
APAC. Boehringer Ingelheim International GmbH,
Vaxxinova GmbH, Elanco Animal Health Inc, Zoetis
Inc, Virbac SA, Hester Biosciences Ltd, Indian
Immunologicals Limited, Ceva Sante Animale,
Brilliant Bio Pharma, Merck Animal Health, Hipra,
and Phibro Animal Health are some of the dominant
companies in this market. The market is largely
dominated by the established players. Thus,
aspiring players need to focus on innovation,
RD, expanding business operations, etc., to gain
a competitive edge, which is capital- intensive.
Though there are startups operating in this
market, the only way to grow is by creating niche
products beneficial to the market. Industry
rivalry among the leading names is high as the
market has a wide scope globally, which is also a
lucrative opportunity for companies to monetize
on.
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