Veterinary vaccination enhances the health of animals, thus improving their life expectancies. Most common veterinary vaccines include those for rabies, E. coli, distemper, hepatitis rotavirus, parvovirus, brucellosis, and pinkeye. Various diseases such as foot-and-mouth disease and influenza adversely affect livestock across the globe. Economic losses due to death of livestock is significant as it impacts the supply of dairy products, meat, and other poultry products. Veterinary biologics are governed by the U.S. Department of Agriculture (USDA) Center for Veterinary Biologics. To combat increasing prevalence of potentially fatal veterinary diseases, there’s a significant spike in demand for combination vaccines that allow for greater accuracy and stability of the finished product. Regulations are also focusing on improving stability, consistency and quality of vaccines produced. Maintaining the quality of production will circumvent risk of side effects.
As per the American Veterinary Medical Foundation, core vaccines such as rabies, feline viral rhinotracheitis, feline panleukopenia, canine parvovirus infection, and canine hepatitis are recommended for every pet, while non-core vaccines such as canine kennel cough and feline leukemia are recommended based on specific needs of the animal. However, low awareness among pet owners and livestock managers inhibits the growth of veterinary vaccines market, especially in emerging economies.
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Increasing incidence of veterinary diseases to drive the growth of veterinary vaccines market
According to the 2015 Global Animal Disease Intelligence Report by the Food and Agriculture Organization (FAO), prevalence of foot-and-mouth disease (FMD) was especially high in Morocco, Saudi Arabia, Turkey, Northern, and Southern Africa. Ebola (Zoonotic disease) continued to be prevalent in West Africa. Also, rabies that leads to thousands of human deaths worldwide is prevalent in 150 countries according to the WHO, with highest number of related deaths reported in Asia and Africa. Thus, these regions are amongst the largest target regions for veterinary vaccines market. Incidence rate of rabies has reduce drastically in Latin America and Caribbean regions due to successful implementation dog rabies control programs.
Growing pet adoption and livestock animals to improve the veterinary vaccines market outlook
As per 2016 Pet Secure (a pet rescue organization in Australia) estimates, dog population is highest in the U.S. at 69,929,000. Pet owners in the country spend over US$ 50 billion on maintenance of their pets. However, pet adoption in Asia Pacific and Latin America regions is increasing rapidly according to the Pet Asia Fair in 2016, resulting in increase in demand for vaccines in these regions. China, Russia and Brazil are leading countries in terms of cat and dog population as per the 2016 estimates of Pet Secure. Also, the organization mentions that the population of dogs in Switzerland is shrinking while increasing rapidly in India. These regional trends of pet adoption need to be essentially factored for by the companies to increase share in the global veterinary vaccines market.
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