by The Poultry Vaccine Market is estimated to be valued at Us$ 1,766.8 Mn in 2022 and is expected to exhibit a CAGR Of 7.9% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The poultry vaccine market refers to the market dedicated to the development, production, and distribution of vaccines specifically formulated for poultry animals. Poultry vaccines are used to protect poultry animals from various diseases such as Newcastle disease, avian influenza, and infectious bronchitis. These vaccines play a crucial role in maintaining the overall health and productivity of poultry populations. With the rising global demand for poultry products and increasing incidences of poultry diseases, the demand for effective poultry vaccines has witnessed significant growth. Various companies are engaged in the research and development of new and improved vaccines to cater to the increasing demand in the market.
Market Dynamics:
The poultry vaccine market is driven by two main factors. Firstly, the rising demand for poultry products such as meat and eggs has led to the expansion of poultry farming operations worldwide, thereby driving the demand for poultry vaccines. Secondly, the increasing incidence of poultry diseases poses a significant threat to the poultry industry, leading to a higher adoption of vaccines for disease prevention and control. Poultry vaccines help in preventing the spread of diseases and reducing the economic losses associated with poultry diseases. Additionally, advancements in vaccine technology and the availability of a wide range of poultry vaccines are expected to further boost market growth. Overall, the poultry vaccine market is expected to witness high growth in the coming years.
Segment Analysis:
The poultry vaccine market can be segmented based on type, disease indication, technology, and geography. Based on type, the market is dominated by live attenuated vaccines, as they provide long-term immunity and are cost-effective. These vaccines are widely used for the prevention of diseases such as Newcastle disease, infectious bronchitis, and infectious bursal disease. Live attenuated vaccines are preferable over inactivated vaccines due to their ability to replicate in the host and stimulate a strong immune response.
PEST Analysis:
Political: The poultry vaccine market is influenced by government regulations regarding animal health and the prevention of infectious diseases. Stringent regulations related to the safety and efficacy of vaccines drive the market growth.
Economic: The increasing demand for poultry products, driven by the growing population and rising disposable income, fuels the market growth. The economic stability of emerging economies also contributes to the expansion of the poultry vaccine market.
Social: The growing awareness about the importance of vaccination in preventing infectious diseases in poultry drives the market. Consumers are increasingly inclined towards consuming safe and disease-free poultry products, leading to the adoption of vaccination.
Technological: Advances in biotechnology and genetic engineering have led to the development of novel vaccine technologies, such as DNA vaccines and recombinant vaccines. These technologies offer improved efficacy and safety, boosting the market growth.
Key Takeaways:
The global Poultry Vaccine Market is expected to witness high growth, exhibiting a CAGR of 7.9% over the forecast period (2022-2030). This growth can be attributed to the increasing demand for poultry products, the implementation of strict government regulations, and the growing awareness about the importance of vaccination.
In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the poultry vaccine market. The region has a large population, increasing disposable income, and a high demand for poultry products. Additionally, the presence of key market players in countries like China and India further contributes to the growth of the market in this region.
Key players operating in the poultry vaccine market include Zoetis Inc., Merck & Co. Inc., Elanco, Ceva Santé Animale, Boehringer Ingelheim, Biovac, Hester Biosciences Limited, Dechra Pharmaceuticals PLC, Venky’s Limited, and Phibro Animal Health Corporation. These players focus on strategic collaborations, new product development, and mergers and acquisitions to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
