Global Live Stock Vaccine Industry Poised for Explosive Growth, Reaching US$11.2 Billion by 2034 at a 6.2% CAGR | FMI Analysis

The Global Live Stock Vaccine Industry is on track for a significant upswing, fueled by the growing importance of animal health and disease prevention. According to a recent analysis, the market is projected to experience a stellar Compound Annual Growth Rate (CAGR) of 6.2% from 2024 to 2034. This translates to a projected market valuation of US$11.2 billion by 2034, reflecting a substantial increase from the US$6.1 billion valuation anticipated for 2024.

Growth factors, like the rising demand for protein-rich diets, especially meat and dairy products, are accelerating the market. Maintaining healthy livestock populations through vaccination against prevalent diseases is necessary to meet this demand. The increase in disease prevalence among livestock results in significant economic losses, underscoring the critical role of vaccination as a preventive measure to manage and control diseases effectively. Government initiatives aimed at eradicating livestock diseases to enhance food security and public health further fuel the demand for vaccination.

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Biotechnology and genetic engineering innovations are enhancing vaccine efficacy and convenience, encouraging their adoption among livestock producers worldwide. The globalization of trade in livestock and livestock products highlights the importance of vaccination in ensuring the health and biosecurity of livestock populations, particularly in the face of stringent biosecurity regulations and disease-related trade bans.

Despite the promising growth prospects, the livestock vaccine market faces several challenges. Strict regulatory requirements for vaccine approval and limited awareness among livestock producers regarding the benefits of vaccination hamper market expansion. Inadequate infrastructure and access to cold chain facilities in remote areas pose distribution challenges. High upfront costs associated with vaccination programs also deter adoption, especially among small-scale farmers. Countries like South Korea, Japan, and the United Kingdom are roaring in the expansion of the veterinary vaccine market.

“Recent advancements in biotechnology and genetic engineering have paved the way for the development of innovative vaccine formulations, customized to address specific livestock diseases and production systems,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)

Key Takeaways from the Global Live Stock Vaccine Industry Study

• Inactivate vaccines are mirrored to soar the global livestock vaccine market with a 6.0% CAGR through 2034.
• Bovine vaccines are expected to heighten the livestock vaccine market by 5.8% CAGR from 2024 to 2034.
• The livestock vaccine market in South Korea has the potential to increase by 8.0% CAGR through 2034.
• The livestock vaccine market in Japan is projected to inflate at a CAGR of 7.9% through 2034.
• The livestock vaccine market in the United Kingdom is predicted to rise at a 7.4% CAGR through 2034.
• The livestock vaccine market in China is anticipated to develop at a CAGR of 6.8% through 2034.
• The livestock vaccine market in the United States is estimated to rise at a 6.4% CAGR through 2034.

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Competitive Landscape from the Live Stock Vaccine Market

Leading companies in the global livestock vaccine market, such as Zoetis and Merck Animal Health, are introducing innovative formulations and comprehensive vaccination programs to target prevalent diseases. Ceva Santé Animale is also expanding by establishing strategic partnerships and acquisitions to meet growing demand and strengthen its vaccine portfolio.

Recent Developments in the Global Live Stock Vaccine Industry

• Indian Immunologicals (IIL) began construction of a vaccine manufacturing plant in Hyderabad in December 2023.
• Bangladesh announced its intention to produce foot and mouth disease (FMD) vaccine locally in February 2024.
• Zhengye Biotechnology (ZYBT) filed for a US$ 20M US IPO in January 2024.
• Yobe State Government procured 1.5 million doses of anthrax vaccine for livestock in July 2023.

The Top Key Companies in the Global Live Stock Vaccine Industry

• Boehringer Ingelheim International GmbH
• Virbac
• Merck Animal Health
• Ceva, Elanco

Global Live Stock Vaccine Industry Segmentation

By Type:

• Inactivated
• Live Attenuated
• Recombinant
• Others

By Animal Type:

• Bovine
• Swine/ Porcine
• Poultry
• Others

By Route of Administration:

• Oral
• Parenteral
• Others

By Distribution Channel:

• Veterinary Hospitals
• Veterinary Clinics
• Others

By Region:

• North America
• Latin America
• Asia Pacific
• Middle East and Africa (MEA)
• Europe

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel and End Use over the next 10-years.

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