Global poultry vaccine market as valued at US$2,129.134 million in 2019. The growth of this market is primarily attributed to the rapidly growing poultry production across the globe coupled with the growing incidence of number of diseases among poultry. According to the United Nations Food and Agriculture Organization (UN FAO), poultry meat production was forecasted to increase by 3 percent in 2019 from 125 million metric tons in 2018. In Europe, between February 16, 2019 and August 15, 2019, two low pathogenic avian influenza (LPAI) A(H5N1) outbreaks along with one LPAI A(H7N7) outbreak in poultry in Denmark and one LPAI A(H7N3) outbreak in poultry in Italy were reported. As people are consuming more of poultry-related food products, rising awareness about harmful impact of the consumption of diseased poultry food product on human health is further pressurizing poultry manufacturers to vaccinate their poultry on a regular basis, thus positively impacting the global poultry vaccine market growth. Governments and global organizations are also taking initiatives to create more awareness about animal health and goof animal husbandry practices. Increasing poultry healthcare expenditure in major regions and/or countries is also spurring the growth of the global poultry vaccine market during the forecast period. There have been collaborative strategic initiatives and programs to help promote the adoption of poultry vaccines, thereby driving the overall global poultry vaccine market growth. Technological advancements for the manufacturing of new vaccines coupled with increasing investments in research and development by global market players will continue to fuel the growth of the global poultry vaccine market during the next five years.
The global poultry vaccine market has been segmented as disease type, product geography. By disease type, the global poultry vaccine market has been classified as avian influenza, Marek’s Disease, bronchitis, and others. The global poultry vaccine market has further been segmented by product as inactivated vaccines, attenuated live vaccines, recombinant vaccines, and others.
By geography, North America holds the significant share in the global poultry vaccine market
By geography, the global poultry vaccine market is classified into five major regional markets- North America, South America, Europe, Middle East and Africa (MEA), and Asia Pacific (APAC). North America accounted for a significant share in the global poultry vaccine market in 2019. Increasing consumption of poultry-related food products has boosted the poultry production in the region. According to the United Nation Food and Agriculture Organization (FAO), the United States is the largest producer of poultry meat in the world, holding 18.0 percent of the global output. As per statistics of the Government of Canada, Canadian chicken production generated $2.8 billion in 2019, contributing 4.3 percent of cash receipts to farming operations. As of 2019, the country has 2,821 regulated chicken producers, along with nearly 4,756 commercial poultry and egg producers. High concerns about the safety of poultry food products due to rising incidence of avain diseases is augmenting the demand for poultry vaccines in the region. Moreover, the presence of global market players in the region also contributes to the growth of poultry vaccine. The European poultry vaccine market is anticipated to witness a noteworthy compound annual growth rate during the forecast period on account of high investments in R&D and strict regulations regarding animal husbandry practices. According to the European Commission’s report “Short-Term Outlook for EU agricultural Markets in 2019 and 2020”, EU’s poultry production is projected to rise by a further 2.5 percent in 2019 due to good demand and high prices. Asia Pacific (APAC) regional poultry vaccine market is also projected to grow at a noteworthy CAGR between 2019 and 2025 on account of growing poultry production in countries like China and India coupled with increasing awareness about various poultry diseases. Governments are conducting various poultry health awareness programs. Moreover, market players are expanding their reach in this region in order to capture a larger share in the global poultry vaccine market, thereby driving the market growth.
Market Players and Competitive Intelligence
Prominent key market players in the global poultry vaccine market include Zoetis, Boehringer Ingelheim, Ceva, Merck Animal Health, a subsidiary of Merck & Co., Inc., AniCon Labor GmbH, Hester Biosciences Limited, Elanco, Biovac, Phibro Animal Health Corporation, Salfarm Danmark A/S, and AniCon Labor GmbH. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the global poultry vaccine market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.