Poultry Breeding is fastest growing segment fueling the growth of Poultry Vaccine Market

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Poultry Breeding is fastest growing segment fueling the growth of Poultry Vaccine Market

Market Overview:

Poultry vaccines help prevent infectious diseases like the Newcastle disease, Marek's disease, and avian influenza in birds. Timely vaccination of chickens, ducks, turkeys help farmers boost immunity and increase productivity.

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 market is the increasing demand for specialized vaccines. With the growth of contract breeding and specialized chicken and turkey breeds for meat and egg production, there is high demand for vaccines tailored to specific breeds and genetic lines. Leading players are focusing on R&D to develop vaccines with unique formulations and administration methods suitable for specialized poultry. Furthermore, applications of new adjuvants and delivery technologies in vaccine production help boost immunity with low virus load, offering opportunities for innovation.

Segment Analysis

The global poultry vaccine market is segmented by product, disease type, and end user. By product, it is divided into live attenuated vaccines, inactivated vaccines, recombinant vaccines, and others. The live attenuated vaccines segment is expected to dominate the market over the forecast period due to its advantages like ability to induce strong humoral and cell-mediated immunity. By disease type, the market is bifurcated into infectious bronchitis, Marek's disease, Newcastle disease, influenza, and others. Newcastle disease vaccines account for the largest revenue share owing to the economic losses caused by the disease. Based on end user, the market covers commercial farms, farm, and others. The commercial farms segment holds the major share as most vaccines are consumed by commercial poultry farms.

Key Takeaways

The Global Poultry Vaccine Market Size was valued at US$ 1,900.4 Mn in 2023 and is expected to grow at a CAGR of 7.9% during 2023-2030. The growing awareness about zoonotic diseases and benefits of vaccination are expected to fuel market growth over the forecast period.

Regional analysis - The North America region dominates the market currently due to the presence of key players and advanced poultry industry in the region. The Asia Pacific region is projected to witness the highest growth rate during the forecast period with China and India being the major markets.

Key players - Key players operating in the poultry vaccine market are 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. Zoetis Inc. and Merck & Co. Inc. capture a significant market share owing to their diverse product portfolio and strong geographic presence.

Get more insights on this topic:

https://www.dailyprbulletin.com/poultry-vaccine-market-share-forecast/

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