by Market Overview:
Poultry vaccines help prevent infectious diseases in poultry such as chicken and ducks. They provide immunity against viral and bacterial pathogens that cause significant economic losses to poultry farmers. Vaccines help boost productivity and maximize profit margins.
The Poultry Vaccine market is estimated to be valued at US$ 1,900.4 Mn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the poultry vaccine market is the development of thermostable and multi-disease preventive vaccines. Conventional vaccines require cold chain logistics for storage and transport which increases production and distribution costs. However, new thermostable vaccines can withstand higher temperatures and have a longer shelf life without refrigeration. This offers ease of use and enables easy access in remote areas. Furthermore, farmers prefer multi-disease vaccines that provide protection against multiple diseases with a single dose administration compared to individual vaccines for each disease. This further fuels the demand for innovative combination vaccines.
SWOT Analysis
Strength: Poultry Vaccine vaccine can effectively prevent various poultry diseases including Newcastle disease, avian influenza, and infectious bursal disease. This reduces huge economic losses for poultry farmers.
Weakness: High costs associated with development, production and storage of poultry vaccines. Stringent regulations for vaccine production may delay product approvals.
Opportunity: Growth in demand for poultry meat and eggs is driving increased poultry production. This requires increased vaccination of poultry flocks to prevent disease outbreaks. Emerging diseases also create needs for new vaccine development.
Threats: Threat of emerging strains of avian influenza and other diseases for which current vaccines may not provide protection. Rising popularity of alternative protein sources like plant-based meat could reduce poultry production volumes.
Key Takeaways
The Global Poultry Vaccine Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing demand for poultry meat and eggs globally. Poultry farming needs to be protected from disease outbreaks through widespread vaccination programs.
Regional analysis: Asia Pacific region dominates the global Poultry Vaccine market and is expected to grow at fastest pace during the forecast period. China accounts for over half of world poultry meat production and consumption. Growing poultry farming volumes in China, India and Southeast Asian countries is a major factor augmenting vaccine demand. North America and Europe are other major markets.
Key players operating in the Poultry Vaccine market include Zoetis Inc., Merck & Co. Inc., Elanco, Ceva Sant Animale, Boehringer Ingelheim, Biovac, Hester Biosciences Limited, Dechra Pharmaceuticals PLC, Venkys Limited, and Phibro Animal Health Corporation, among others. Leading companies are investing in R&D to develop new vaccines for both routine vaccination programs as well as for emerging diseases. Partnerships and acquisitions are also seen in this space to gain access to new technologies and geographic territories.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
