Poultry Vaccines Market Forecast Set To Exhibit Strong Growth, Valuable Research Factors and Industry Forecast to 2030
Market Highlights
The Poultry Vaccines Market Forecast was worth USD 1.93 billion in 2021 and is expected to reach USD 3.19 billion by 2030 at 7.05% CAGR during the forecast period 2022 to 2030.
The high cost associated with poultry vaccines, lack of awareness regarding poultry vaccines, and unaffordability of veterinary services in underdeveloped and developing regions may hamper the growth of the poultry vaccines market during the assessment period. For instance, according to the National Institute of Standards and Technology (NIST), in January 2016, more than 35.0% of vaccines lost their potency during the global shipping, as they were stored at temperatures that were either too high or too low.
Key Players
Some of the key players in the global poultry vaccines market are
Boehringer Ingelheim, Elanco, MSD & Co., Zoetis Inc, Ceva Animal Health Inc., Phibro Animal Health Corporation, Virbac, Hipra, Venkys, Biovet, and Anicon GmbH, and Others.
Segmentation
The global poultry vaccines market has been segmented based on diseases, technology, dosage form and region.
· Based on disease, the market has been classified as infectious bronchitis, avian influenza, marek's disease, newcastle disease, and others. the market, by technology, has been segmented into toxoid vaccines, recombinant vaccines, inactivated vaccines, live attenuated vaccines (lav), and others. based on dosage form, the market has been segmented into duct vaccines, liquid vaccines, and freeze-dried vaccines.
· Based on technology, live attenuated vaccines segment is expected to hold the largest market share of the poultry vaccines market during the forecast period. Also, recombinant vaccines segment to register the fastest growth in the global poultry vaccines market during the forecast period.
Regional Analysis
The market is likely to dominate by Americas during the forecast period owing to the awareness about the prevention of animal-to-human transmission diseases, rising demand for safe animal food supply, and increasing investment in research and development for animal vaccines. Moreover, high expenditure spending and favorable reimbursement policy also fueling the growth of the market during forecast periods. The European market is expected to be the second-largest due to government support for research & development and improved animal husbandry practices. However, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to rising awareness and increase in the number of animal welfare programs. The market in the Middle East & Africa is likely to account for the smallest share of the global poultry vaccines market.
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