Market Overview:
Poultry vaccines are used to prevent and protect poultry birds from several viral and bacterial diseases. The key diseases that poultry vaccines help prevent include Newcastle disease, avian influenza, infectious bronchitis, Marek's disease, and Salmonella. With the growing demand for poultry meat and eggs, especially in developing countries, poultry farming has increased rapidly. Vaccination plays a crucial role in ensuring animal health and maximizing yields in poultry farming.

The Poultry Vaccine market is estimated to be valued at US$ 1,900.4 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key drivers of the poultry vaccine market is the rising poultry farming, especially in developing nations. Countries such as China, Brazil, and India have witnessed increased investments and expansion of poultry farms in recent years due to rising incomes and growing demand for animal protein. According to the WHO, global meat consumption is projected to rise by over 73% between 2005 and 2050, with much of the increase expected from developing nations. Rising poultry farming in turn is expected to drive the demand for poultry vaccines to prevent diseases and maximize production. Furthermore, advancements in vaccine technologies such as thermostable vaccines that do not require cold chain management are gaining popularity in developing regions and boosting the overall market growth.

Porter’s Analysis
Threat of new entrants: The threat of new entrants in the poultry vaccine market is moderate. High capital requirements for R&D and production facilities pose barriers for new players. However, availability of substitutes and growing market attract new companies.

Bargaining power of buyers: Buyers have moderate bargaining power in the poultry vaccine market. Availability of substitute products from different brands provides options to buyers. However, need for disease prevention increases buyer dependence.

Bargaining power of suppliers: Suppliers of active pharmaceutical ingredients and packaging materials have low-to-moderate bargaining power. This is due to availability of substitute suppliers and importance of reliability in supply.

Threat of new substitutes: Threat of substitutes is moderate as antibiotics can be used as alternatives for disease prevention. However, stringent regulations on antibiotic use favor vaccine adoption.

Competitive rivalry: The poultry vaccine market witnesses high competition due to presence of large multinational brands and local players.

SWOT Analysis
Strength: Wide product portfolio and strongbrand image of major players. Technological advancements enable development of thermostable and subunit vaccines.
Weakness: High R&D and production costs increase vaccine prices. Storage and distribution challenges in remote areas.
Opportunity: Growth in meat consumption and poultry farming in developing regions. New product developments for emerging diseases.
Threats: Stringent regulations can delay new product approvals. Vaccine failures and spread of new pandemic strains.

Key Takeaways:
The Global Poultry Vaccine Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing consumption of poultry meat and eggs. Rising awareness about food safety has compelled poultry farmers to adopt preventive healthcare measures.

Regional analysis
North America dominated the global poultry vaccine market in 2023 and is expected to continue its dominance over the forecast period. This is attributed to increasing poultry production, robust research funding, and frequent disease outbreaks in the region. However, Asia Pacific is projected to witness the highest growth during the analysis period owing to growing meat consumption, rising living standards, and efforts by governments to modernize poultry farming.

Key players operating in the poultry vaccine market are Zoetis Inc., Merck & Co. Inc., Elanco, Ceva Sant Animale, Boehringer Ingelheim, Biovac, Hester Biosciences Limited, Dechra Pharmaceuticals PLC, Venkys Limited, and Phibro Animal Health Corporation, among others. They are focusing on new product launches and expansion strategies to consolidate their market position.

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https://www.zupyak.com/p/3958055/t/poultry-breeding-is-fastest-growing-segment-fueling-the-growth-of-poultry-vaccine-market 

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