According to The European Pet Food Industry, there are approximately 80 million European households who own at least one pet animal. People having animal pets as cats, dogs rabbit etc can have weakened immune systems so it is advisable to take extra precautions when choosing and handling pets. Animal vaccines help to control disease like rabies which can affect the pet holders hence the need for pet vaccines is propelling the Global PetVaccine Market. There are approximately 59000 people who die of rabies every year according to the Center for Disease Control. Parenteral animal rabies vaccines are administered under the supervision of the veterinarian. Pet vaccines account for 38% of the Global market with CAGR of 6.8% during 2018-2026. Some common dog pet vaccines include shots for canine distemper, measles, parvovirus, cav-2 for hepatitis, rabies, parainfluenza, bordetella, leptospirosis, lyme, coronavirus and giardia. Few Feline pet vaccines are available to prevent conditions including feline rhinotracheitis, feline calicivirus, feline distemper, feline panleukopenia, feline leukemia virus, feline immunodeficiency virus and feline infectious peritonitis and Chlamydia. Moreover, Not all cats need all the pet vaccinations and what they need will also vary on their age.
This growth is primarily driven by Growing adoption rate of pets among pet owners, Increasing community awareness regarding health of pets and The Government initiatives creating awareness about pet vaccines..
Globally, a noticeable market trend is evident Increased prevalence of disease like rabies among pet animals and the probability of transmission of this disease to the pet holders
. The Pharmaceuticals sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Zoetis (United States), Merck Sharp & Dohme Corp. (United States), Bayer AG (Germany), Elanco US Inc. (United States), Merial Inc. (United Kingdom), Virbac (France), Phibro Animal Health Corp. (United States), Boehringr Ingelheim GmbH (Germany), Tianjin Ringpu Bio-Technology Co., Ltd (China), Ceva (United States), Vetoquinol (France), Diamond Animal Healthcare (United States), India Immunological Ltd. (India), Sanofi S.A. (France), PHL Associates, Inc. (United States), Hygieia Biological Laboratories (United States), Colorado Serum Company (United States), Arko Laboratories, Ltd. (United States) and Intervacc AB (Sweden) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In July 2018, Intervacc, a Swedish company recieves funding from Eurostar-2 program for further development of vaccine for piglets. This vaccine is based on recombinant proteins to meet the increasing need for effective vaccines in animal health care, with a very good safety profile.
- Growing adoption rate of pets among pet owners
- Increasing community awareness regarding health of pets
- The Government initiatives creating awareness about pet vaccines.
- Increased prevalence of disease like rabies among pet animals and the probability of transmission of this disease to the pet holders
- Increasing ownership of pets and great demand for dairy products.
- Rising maintenance cost for vaccine storage
- Lack of awareness about pet vaccines among pet holders in underdeveloped countries and its need for the administration to the pets are hampering the market.
Technological advancement is fueling the entry of novel veterinary vaccines are providing an opportunity for the market.
Strict government regulations impacting the Global pet vaccine market is posing a challenge for this market.
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Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Pet Vaccine Study Sheds Light on
The Pet Vaccine Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Pet Vaccine industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Pet Vaccine industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.