According to Acumen Research & Consulting, the market size for global poultry vaccines is estimated to grow a CAGR above 6% over the forecast timeframe and reach a market value of around USD 2,940 million by 2028.
According to the United States Food and Agriculture Organization (FAO), the total poultry influence in the world in 2019 (chicken, goose, duck, guineafowl, and turkey) is approximately 27.9 billion heads. Chickens account for the biggest share of this presence, accounting for approximately 93%. According to the FAO, the global chicken population has doubled since 1990. However, the poultry industry, which is crucial for food safety and standards as well as nutrition, is the fastest rising agricultural sub-sector, particularly in developing countries. Growing population, wage level advancement, and urbanization are all expected to contribute to the poultry sector's future growth. Although small family farms and business owners in the agri-business sector have contributed to the market's growth, it appears that large-scale operations will drive future growth.
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Poultry immunization, wellness, health, and production are just a few of the factors threatening the poultry industry's future growth. Consumer confidence, product quality and safety, product types, and the increasing prevalence of diseases will continue to be the major challenges to the industry's current situation and strategic future. Vaccination, alternatively, is crucial in maintaining the health of the chicken flock. Vaccinations can help to prevent the farms from a variety of poultry diseases. Vaccines are designed to stimulate an animal's immune system to produce antibodies that will inactivate pathogens while causing minimal harm. Vaccination is a preventative measure against the spread of infectious and viral infections, and it plays an important role in the effective health of poultry. Furthermore, the rapidly increasing poultry headcount and the rising prevalence of zoonotic pathogens in poultry drive the market for poultry vaccines.
Global Poultry Vaccines Market Growth Factors
The increasing prevalence of avian diseases, combined with the growing poultry population, is expected to drive demand for poultry vaccines. Furthermore, rising meat consumption worldwide, rising demand for poultry-related food products, government initiatives, cutting-edge technologies and advancements for manufacturing new vaccines, and rising poultry healthcare spending are driving the growth of the global poultry vaccines market. Furthermore, the COVID-19 pandemic had a negative impact on the poultry industry, resulting in decreased supply, unsold inventory levels, lack of sales, and a drop in poultry meat and egg prices. On the other hand, the post-COVID-19 pandemic has created new opportunities for vaccine developers to increase their market share. This is due to increased animal disease awareness, increased demand and supply for safe food stock and product lines, and concerns about newly emerging diseases.
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global poultry vaccines market. Due to increased poultry farming, government vaccination programs, and rising veterinarian health care expenditure, the Asia Pacific region is expected to dominate the market of poultry vaccines in forecasting years. The Asia Pacific poultry sector has reached a mass production level, driven primarily by demand from in-house consumption and a larger proportion of food service outlets. Additionally, in terms of both poultry production and consumption, India has been a growing industry. Besides, after China and the USA, the country is the world's third-largest egg producer and the fourth-largest chicken producer, behind China, Brazil, and the USA. Furthermore, Europe held a significant revenue share over forecasting periods due to favorable government policies, the presence of major players, and growing concerns about zoonoses.
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The global poultry vaccines market has been segmented based on disease, product, application, and end-user. Based on the disease, the market is divided into infectious bronchitis, avian influenza, new castle disease, Marek's disease, and others. Among them, avian influenza occupied the largest market share in 2020. Based on product, the market bifurcated into attenuated live vaccines, inactivated vaccines, subunit vaccines, recombinant vaccines, and DNA vaccines. In 2020, attenuated live vaccines gathered a significant amount of share. Based on application, the market is classified into broiler, layer, and breeder. The breeder segment is expected to achieve a substantial market share in the application segment. By end-user, the market is divided into veterinary hospitals, poultry firms, and poultry vaccination centers. Among end-users, the poultry vaccination center acquired a considerable amount of share while veterinary hospitals are likely to achieve a significant growth rate in the coming years.
Some major players covered in the global poultry vaccines market are Boehringer Ingelheim International GmbH, Ceva Animal Health, Zoetis, Elanco, Merck & Co., Inc., Hester Biosciences Limited, Ringpu Biology, Anicon GmbH, Venkys India, Calier, KM Biologics, and Phibro Animal Health Corporation.
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Mr. Frank Wilson
Acumen Research and Consulting