IMARC Group, a leading market research company, has recently releases report titled “Rabies Veterinary Vaccines Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global rabies veterinary vaccines market share, size, trends, and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the rabies veterinary vaccines market?

The global rabies veterinary vaccines market size reached US$ 611.1 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 846.7 Million by 2032, exhibiting a growth rate (CAGR) of 3.69% during 2024-2032.

Factors Affecting the Growth of the Rabies Veterinary Vaccines Industry:

  • Increasing incidences of rabies:

Rabies remains a major public health concern globally, especially in areas with high populations of stray and unvaccinated domestic animals. The world health organization (WHO) estimates that rabies causes tens of thousands of deaths annually, primarily in Asia and Africa. The prevalence of rabies in wildlife reservoirs, such as bats, raccoons, and foxes, further complicates eradication efforts. The persistent threat posed by rabies to both animal and human populations emphasizes the need for effective vaccination programs. This growing prevalence encourages veterinary vaccines to immunize pets, livestock, and wildlife, thereby reducing the transmission of rabies is supporting the market expansion.

  • Heightened awareness and government initiatives:

Heightened awareness and government initiatives play a crucial role in driving the rabies veterinary vaccines market. Public health campaigns and educational programs have significantly increased awareness about the dangers of rabies and the importance of vaccination. Governments and non-governmental organizations (NGOs) worldwide are implementing rabies control programs, which include mass vaccination campaigns, surveillance, and post-exposure prophylaxis. For instance, the WHO's global strategic plan aims to eliminate dog-mediated human rabies by 2030 through comprehensive vaccination and education initiatives. Government regulations mandating rabies vaccination for pets are contributing to the market expansion.

  • Advancements in vaccine technology:

Advancements in vaccine technology are another key factor propelling the rabies veterinary vaccines market. Traditional vaccines, such as inactivated and attenuated vaccines, have been effective in controlling rabies; however, modern biotechnological advancements have led to the development of more efficacious and safer vaccines. Innovations such as recombinant vaccines and deoxyribonucleic acid (DNA) vaccines offer improved immunogenicity, longer-lasting immunity, and reduced side effects. These advancements enhance the effectiveness of vaccination programs, encouraging higher adoption rates among veterinarians and pet owners. Moreover, the development of oral vaccines for wildlife has been a game-changer in controlling rabies in wild animal populations, bolstering the market growth.

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Rabies Veterinary Vaccines Market Report Segmentation:

Breakup by Application:

  • Companion Animals
  • Livestock Animals
  • Wildlife Animals

Companion animals account for the majority of shares owing to the high rate of pet ownership and mandatory vaccination regulations for pets to prevent rabies transmission.

Breakup By Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

North America enjoys the leading position due to robust veterinary healthcare infrastructure, high awareness levels, and significant government initiatives for rabies prevention.

Global Rabies Veterinary Vaccines Market Trends:

The expanding pet ownership globally increases the demand for routine vaccinations along with the need for veterinary services, enhancing the development of advanced vaccines and fostering greater awareness of pet health and wellness, aiding the market growth. Additionally, the rise in international travel and trade heightens the risk of rabies transmission across borders, prompting stricter vaccination regulations is strengthening the market growth. Besides this, ongoing advancements in diagnostic tools that facilitate early detection and control of rabies outbreaks impelling the market reach. Furthermore, collaborations between veterinary organizations and pharmaceutical companies enhance vaccine accessibility and distribution, providing an impetus for market expansion.

Who are the key players operating in the industry?

The report covers the major market players including:

  • Bharat Biotech
  • Biogénesis Bagó
  • Boehringer Ingelheim International GmbH
  • Elanco
  • Indian Immunologicals Limited
  • Merck & Co., Inc.
  • Virbac
  • Zoetis Inc.

Browse the full report with TOC and list of Figures: https://www.imarcgroup.com/rabies-veterinary-vaccines-market

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