Recent Study on Global Veterinary Vaccines Market Highlights Growth Prospects and Forecast Future Opportunities for the Period 2017 – 2024
Globally, rising prevalence of animal diseases is becoming a major issue, especially for the pet owners. To overcome this issue, large companies are striving to introduce novel products which are leading to the introduction of innovative animal healthcare products. Considering these facts, a fresh study titled “Veterinary Vaccines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2024” has been compiled and broadcasted to the massive online repository of Market Research Hub (MRH). The research majorly aims to provide comprehensive insights into the market current scenario and future growth prospects during the mentioned forecast period of 2017-2024.
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The global market growth has been analyzed in terms of revenue and volume estimates (in US$ Mn and Thousand Units), across different geographies such as North America, Europe, Asia-Pacific, Middle East and Africa and South America. According to the report findings, increasing R&D efforts for the development of novel veterinary vaccines is aiding the growth of this market. Analysts have evaluated that the global veterinary vaccines market will clock a CAGR of 6.9% between 2017 and 2024, for the market to be worth US$11,403.6 mn by 2024-end. In 2017, the demand in the market translated into opportunities worth US$7124.4 mn.
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Factor Fueling Market Growth
The above findings from the study have been briefly discussed in the study to offer readers a clear perspective on the veterinary vaccines market. In addition, a crucial section showcases the market dynamics and trends such as the drivers, restraints, and opportunities that influence the current nature and future status of this market.
- It has been clearly stated in the study that rising awareness among people about animal diseases is boosting the veterinary vaccines market. Awareness about animal diseases and their symptoms are important for pet or livestock owners.
- Geography-wise, the report finds various factors that are encouraging market growth. Among various region, North America holds control in the veterinary vaccines market due to organized nature of livestock farms and the highest number of pets in the U.S.
- The report further adds that rising disposable income has also been a key factor behind the growth of veterinary vaccines market. Changing lifestyle in emerging economies such as China and India have augmented demand for animal protein food, which as a result boosting the demand for veterinary pharmacies to prevent disease.
- The research further has been primarily segmented by animal type and technology type. By technology, live attenuated vaccines segment holds prominence in the market. By animal type, canine vaccines for companion animals hold a significant market share, finds the study.
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