On 11th June 2014
The global animal vaccines market is in its growth phase and is estimated to be worth $5.8 billion in 2013. It is expected to grow at a healthy CAGR of 8.1% to reach $8.6 billion by 2018. The animal vaccines market is segmented on the basis of products, animal diseases, and technologies that are involved in developing vaccines for veterinary administration. The global animal vaccines market, by products, is further segmented into seven segments, namely, companion animal vaccines, livestock, poultry, porcine, equine, aquaculture, and other animal vaccines. In 2012, livestock vaccines and porcine vaccines were two of the largest segments, which accounted for 63% of the market share, globally. The livestock vaccines market is further segmented into bovine vaccines and small ruminant vaccines, whereas the companion animal vaccines market is further segmented into canine vaccines and feline vaccines.
By technology, the animal vaccines market is segmented on the basis of live attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, recombinant vaccines, and DNA vaccines. DNA vaccines demonstrate tremendous growth opportunities due to factors such as added thermo-stability, cost effectiveness, easy production, and rapid development against emerging diseases.
The factors responsible for the growth of the animal vaccine market include increasing incidences of zoonotic diseases in humans, growing prevalence of animal diseases, and increasing investments by government bodies, animal welfare associations, and leading players. Another factor that drives the growth in this space is the continuous innovations and introduction of new products in the market. Since