Newark, New Castle, USA, April 06, 2023 (GLOBE NEWSWIRE) -- According to a recent Growth Plus Reports assessment, the is estimated to reach US$ 5,169.27 million by 2031, with a revenue CAGR of 5.57%. The report examines the vital growth strategies, factors and prospects, competitive scenarios, shifting industry trends, market dynamics, data and forecasts, and ideal investment regions.

Key Takeaways:

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                           Companion Animal Vaccines Market Scope

Report AttributeDetails
Market size value in 2022US$ 3,173.69 million
Revenue forecast in 2031US$ 5,169.27 million
Growth RateCAGR of 5.57% from 2023 to 2031
Base year for estimation2022
Forecast Period2023-2031
Historical Year2021
Segments coveredAnimal Type, Technology, Distribution Channel, and Region.
Regional scopeNorth America, Europe, Asia Pacific, and the Rest of the World (ROW)

Market Drivers
Increased awareness of pet health among pet parents is the major factor driving the revenue growth of the global companion animal vaccines market. Furthermore, higher zoonotic disease prevalence, significant demand for companion animal vaccines, favourable reimbursement policies, and increased research and development activities contribute to the market's revenue growth rate. 

Market Segmentation
Growth Plus Reports has analyzed the global companion animal vaccines market from four perspectives: Animal Type, Technology, Distribution Channel, and Region.

Animal Type Segmentation: Based on the animal type, the global companion animal vaccines market is segmented into canine, feline and others. The canine segment dominates the market with the largest revenue share because dogs are more social than cats and have higher adoption rates and healthcare costs. They also have a greater chance of contracting infectious diseases.

Technology Segmentation: Based on the technology, the global companion animal vaccines market is segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and other technologies. The live attenuated segment dominates the market because these vaccines are among the best available and effectively prevent diseases like rabies and feline leukaemia in animals like dogs and cats by generating a strong and long-lasting immune reaction.

Distribution Channel Segmentation: Based on the distribution channel, the global companion animal vaccines market is segmented into veterinary hospitals & clinics, veterinary research hospitals, and retail pharmacies. The veterinary hospitals & clinics segment dominates the market because the vaccines used in veterinarian facilities and clinics are of the highest caliber, are secure, and are efficient. Additionally, they make sure the vaccines are handled and kept correctly to preserve their efficacy.  

Regional Growth Dynamics
Based on the region, the global companion animal vaccines market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is expected to dominate the global companion animal vaccines market with the largest revenue share. The dominance of North America can be attributed to the rising prevalence of zoonotic diseases, the availability of better veterinary healthcare infrastructure, and the existence of favourable reimbursement policies for animal health; and the increased adoption of pet animals like dogs, cats, and other animals.

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Competitive Landscape
The prominent players in the global companion animal vaccines market are:

The companion animal vaccines market is extremely competitive, with many players involved. Market leaders increasingly use mergers, collaborations, and acquisitions to increase their market share and launch new drugs and products.

Recent developments:

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem
    2. Timeline Under Consideration
      1. Historical Years – 2021
      2. Base Year – 2022
      3. Forecast Years – 2023 to 2031
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions
  3. PREMIUM INSIGHTS
    1. Current Market Trends (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2022)
    3. Regulatory Landscape
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL COMPANION ANIMAL VACCINES MARKET - ANALYSIS & FORECAST, BY ANIMAL TYPE
    1. Canine
    2. Feline
    3. Other Animal Types               
  6. GLOBAL COMPANION ANIMAL VACCINES MARKET - ANALYSIS & FORECAST, BY TECHNOLOGY
    1. Live Attenuated Vaccines
    2. Inactivated Vaccines
    3. Toxoid Vaccines
    4. Recombinant Vaccines
    5. Other Technologies

COMPANION ANIMAL VACCINES MARKET TOC

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