Livestock Vaccines Market - Growth, Trends, and Forecast (2020 - 2025)

Globally, the livestock sector is witnessing an increased demand for livestock products such as meat and dairy products. Though this trend has traditionally been evident in developed countries across North America and Europe, demand for livestock products has increased significantly in emerging Asia Pacific and Latin American countries over the past decade.

This can primarily be attributed to the growing population in these regions, coupled with the rapid urbanization and economic growth. The repeated outbreaks of certain diseases in livestock animals are expected to support growth of the veterinary vaccines market by increasing the focus on animal health and preventive animal healthcare approaches among stakeholders in the livestock sector. However, high storage cost of vaccines and lack of veterinarians and skilled farm workers to administer vaccines is expected to restrain the market growth.

Key Market Trends

Poultry Vaccine is Expected to Cover a Large Share of the Livestock Vaccines Market

Poultry includes domesticated birds kept by humans for their eggs, their meat or their feathers. Poultry is the most produced livestock in the world. The world's average stock of chickens is nearly19 billion, or three per person, according to statistics from the United Nations Food and Agriculture Organisation. Moreover, the production of poultry is expected to increase in the future.

According to a report by the United States Department of Agriculture (USDA), the global poultry production was 111,000 thousand metric tons in 2015. World poultry production is projected to increase by 24% over the next decades, reaching 131,255 thousand metric tons in 2025. Poultry is prone to deadly diseases like Avian Influenza, Newcastle disease, Marek's Disease, etc. Many of these diseases are also zoonotic diseases, which also have adverse effects on humans.

Therefore with the increasing poultry production, the number of poultry affected by the diseases is also expected to increase. To counter, the farmers are expected to opt for preventive vaccines to prevent future economic loss. This is expected to help the market growth.

North America is Expected to Dominate the Market

North America is expected to grow due to the increasing adoption of veterinary vaccines for quality food products and for better animal health. According to a 2018 report by the Animal and Plant Health Inspection Service, there were 94.4 million cattle and calves in the United States (US). Moreover, US is also the largest producer of beef in the world, producing 12.7 million metric tons of beef in 2019, as per 2019 report by the U.S. Department of Agriculture and the Food and Agriculture Organization. With large production of livestck meat, the demand of vaccines is expcted to increase in the region.

Moreover, the North American countries of the US and Canada have a developed and well-structured health care system. These systems also encourage research and development. These policies encourage global players to enter the US and Canada. Hence as a result, these countries enjoy the presence of many global market players. As high demand is met by the presence of global players in the region, the market is further expected to increase.

Competitive Landscape

Majority of the livestock vaccines are being manufactured by the global key players. Market leaders with more funds for research and better distribution system have established their position in the market. Moreover, Asia-pacific is witnessing an emergence of some small players due to the rise of awareness and livestock industry in the region. This has also helped the market grow.

Reasons to Purchase this report:

• The market estimate (ME) sheet in Excel format.
• Report customization as per the client's requirements.
• 3 months of analyst support.

This product will be delivered within 2 business days.