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LONDON , GREATER LONDON , UK , September 2, 2024 /EINPresswire.com/ -- The companion animal veterinary vaccines market has experienced robust growth in recent years, expanding from $3.47 billion in 2023 to $3.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to pet ownership growth, preventive healthcare, zoonotic diseases, advancements in vaccine technology.
Strong Future Growth Anticipated
The companion animal veterinary vaccines market is projected to continue its strong growth, reaching $4.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to increasing pet population, preventive healthcare awareness, technology and vaccine development, customized vaccination plans.
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Growth Driver Of The Companion Animal Veterinary Vaccines Market
Increased pet ownership by Gen X and Gen Y adults contributed to the growth of the companion animal veterinary vaccine market during the forecast period. According to the APPA, millennial, or Gen Y, represent the largest segment of pet owners for all types of pets. More than 80% of Gen Y and Gen Z own a dog, and 50% or less own a cat as a pet. Multiple pet ownership is also on the rise in some parts of the world.
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Major Players And Market Trends
Key players in the companion animal veterinary vaccines market include C.H. Boehringer Sohn AG & Co. KG, Eli Lilly and Company, Heska Corp., Merck and Co. Inc., Elanco Animal Health Incorporated.
Major companies operating in companion animal vaccine market are introducing new vaccines such as FeligenRCPCh, to drive the revenues in the market. FeligenRCPCh is a veterinary vaccine for cats that provides protection against several infectious diseases, including feline viral rhinotracheitis (a flu-like illness), feline calicivirus, feline panleukopenia, and feline Chlamydophila infections.
Segments:
1) By Product: Single Chamber, Multi Chamber
2) By Material: Ethylene Vinyl Acetate, Polypropylene, Copolyester Ether, Other Materials
3) By Content: Frozen Mixture, Liquid Mixture
4) By Application: Chemotherapy, Targeted Drug Delivery, Glucose Injection, Sodium Chloride Solution, Electrolyte Injection, Nutrient Injection, Other Applications
5) By End User: Hospitals, Clinics, Emergency Service Centers, Ambulatory Surgical Centers, Other End Users
Geographical Insights: North AmericaLeading The Market
Companion animal vaccines are substances that are used to stimulate the production of antibodies and provide immunity against one or several diseases in pets such as dogs, birds, and cats. They are also used to improve food digestion, enhance immunity, enable animals to gain fat and weight, and generate good quality meat that is harvested for commercial purposes.
Companion Animal Veterinary Vaccines Market Definition
North America was the largest region in the companion animal veterinary vaccines market in 2023. Asia-Pacific was the second-largest region in the companion animal veterinary vaccines market. The regions covered in the companion animal veterinary vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Companion Animal Veterinary Vaccines Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Companion Animal Veterinary Vaccines Global Market Report 2024by The Business Research Company is the most comprehensive report that provides insights on companion animal veterinary vaccines market size, companion animal veterinary vaccines market driversand trends, companion animal veterinary vaccines market major players, companion animal veterinary vaccines competitors' revenues, companion animal veterinary vaccines market positioning, and companion animal veterinary vaccines market growth across geographies. The companion animal veterinary vaccinesmarket report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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