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The rise in the Prevalence of Diseases Spread via Animals Proliferated by the Growing Adoptions in Regions has been a Key Companion Animal Vaccine Market Driver
HYDERABAD, TELANGANA, INDIA, October 13, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Companion Animal Vaccine Market Size is estimated to reach $5.4 billion by 2027 and is poised to grow at a CAGR of 6.2% over the forecast period of 2022-2027. Companion animal corresponds to household animals/pets kept by human beings for various purposes, primarily as a companion. Owing to the growing role of depression within the various societies’ spectrum, the adoption of animals has grown at a tremendous pace, which in turn has driven the demand for veterinary vaccines in 2021 and 2022. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key takeaways:
This IndustryARC report on the Companion Animal Vaccine Market highlights the following areas –
1. Geographically, North America held a dominant market share in the year 2021. It is owing to tremendous growth in the companion animal populations, driven by the pandemic stress and other associated chronic illnesses. However, Asia-Pacific is estimated to offer lucrative growth opportunities owing to western norms of adopting pets and the increased number of veterinary clinics.
2. The rise in the prevalence of diseases spread via animals proliferated by the growing adoptions in marketable regions has been a key market driver. However, poor infrastructure and the use of animals in vaccine production have been impeding the market growth.
3. A detailed analysis of the strengths, weaknesses, opportunities and threats will be provided in the Companion Animal Vaccine Market Report.
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Segmental Analysis:
1. Companion Animal Vaccine Market based on product type can be further segmented into Attenuated Live Vaccines, Conjugate Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, DNA Vaccines and Recombinant Vaccines. Attenuated Live Vaccine held a dominant market share in the market of companion animal vaccines in 2021.
2. Companion Animal Vaccines Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America and the Rest of the World. North America held a dominant market share of 38% in 2021. The following hold over the market is owing to the availability of pet insurance in regions such as the U.S. and Canada.
3. Companion Animal Vaccine Market based on species type can be further segmented into Canine, Avian, Feline and Equine. Canine held a dominant market share in the year 2021 for the companion animal vaccine industry.
Competitive Landscape:
The top 5 players in the Companion Animal Vaccine Industry are –
1. Bayer Healthcare
2. Vétoquinol S.A
3. Boehringer Ingelheim
4. Ceva Santé Animale
5. Eli Lilly and Company (Elcano)
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