Poultry Vaccine Market Is Estimated To Witness High Growth Owing To Increasing Demand For Vaccines To Prevent Various Poultry Diseases
Poultry vaccines are biological products used for immunizing poultry birds against various viral and bacterial diseases that can adversely affect poultry health and production. Vaccines help birds develop immunity against diseases like Newcastle disease, fowl pox, Marek's disease, avian influenza, and infectious bronchitis. These diseases can cause severe economic losses to farmers if a flock is infected.
The global poultry vaccine market is estimated to be valued at US$ 5 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2027, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing demand for vaccines to prevent various poultry diseases has been a major driver boosting growth of the poultry vaccine market. Poultry diseases can spread rapidly and cause heavy mortality in flocks. Routine vaccination helps prevent outbreaks and protects birds from infections. Moreover, vaccination supports sustainable poultry production and helps meet the rising global demand for poultry meat and eggs. International organizations and regulatory bodies also promote adoption of vaccination programs for major poultry diseases.
The impact of diseases is significant on poultry farming economics. Vaccination plays a key preventive role to minimize production losses. It supports business continuity and profitability for poultry producers. The recurrent costs associated with vaccination are offset by savings from reduced treatment costs and prevention of potential disease outbreaks. Vaccine advances are also improving immunization response and protection duration per dose. These factors collectively are fueling greater uptake of modern vaccines in commercial poultry rearing globally.
SWOT Analysis
Strength: Poultry vaccination helps prevent various diseases in birds like Newcastle disease, avian influenza, and Marek's disease. Vaccination improves productivity and reduces economic losses for farmers. Manufacturers are developing thermostable and thermotolerant vaccines that do not require cold chain maintenance, making vaccination easier.
Weakness: High dependency on government subsidies and funding for vaccination programs in developing nations. Lack of awareness among small poultry farmers about benefits of vaccination.
Opportunity: Growth in contract farming and commercial poultry farming in Asia Pacific and Latin America regions provides scope to sell more vaccines. Livestock rearing is a source of income for millions, thus supporting poultry health through vaccination programs can alleviate poverty.
Threats: Threat from emerging diseases that existing vaccines may not cover. Strict regulations for vaccine approval and rising costs of R&D could increase product prices.
Key Takeaways
The global Poultry Vaccine Market Growth is expected to witness high growth.
Regional analysis: Asia Pacific region dominates the market currently due to rising meat consumption and presence of key vaccine manufacturing companies in China and India. Countries like Brazil and Russia are also expanding commercially rapidly.
Key players operating in the poultry vaccine market are Merck & Co., Zoetis, Boehringer Ingelheim International, Ceva, and Biovac. The market is becoming increasingly concentrated as large players acquire smaller firms.
Explore more related article on this topic: https://www.newswirestats.com/poultry-vaccine-market-growth-analysis/
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