Global Duck Medicine and Vaccines Market, by Type (Medicine and Vaccines), by Application (Farm and Government), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,777.0 million in 2021 and is expected to exhibit a CAGR of 7.7% during the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
The increasing expansion strategies such as construction of new laboratories by the key players operating in the market to increase the vaccine production is expected to drive growth of the global duck medicine and vaccines market over the forecast period. For instance, in June 2021, YEBIO BIOENGINEERING CO., LTD, a company producing duck, chicken, and swine vaccines, constructed Yebio High-grade Pathogen Biosafety Level 3 Laboratory. This laboratory includes functional parts such as cell-level laboratories and laboratories for large and medium-sized and small animals, which can be used for pathogen isolation, testing experiments for prevention and control studies on diseases such as African swine fever and avian influenza.
Global Duck Medicine and Vaccines Market – Impact of Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on November 25, 2021. According to the Coronavirus (COVID-19), Weekly Epidemiological Update by the World Health Organization, over 398,682,567 cases and 5,771,030 deaths due to coronavirus (COVID-19) were reported as of February 8, 2022, across the globe.
The COVID-19 pandemic and lockdown in various countries across the globe has negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. Likewise, COVID-19 pandemic has made a negative impact on the global duck medicine and vaccines market, owing to the reduced access to veterinarians and problems related to transportation. For instance, according to an article published by the National Center for Biotechnology Information (NCBI), limited access to the veterinary dispensary or even veterinarians and also problems related to the transportation of animals to the polyclinic at the time of need led to a high level of morbidity of diseases and at times death of the animals.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Duck Medicine and Vaccines Market”- Forecast to 2028, Global Duck Medicine and Vaccines Market, by Type (Medicine and Vaccines), by Application (Farm and Government), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, the formation of new institutes for vaccine production and research activities is also expected to aid in growth of the global duck medicine and vaccines market over the forecast period. For instance, in June 2021, Yebio Vaccination Technology Institute was formed by YEBIO BIOENGINEERING CO., LTD, an animal vaccine producer that produces swine, duck and chicken vaccine, in Qingdao, China. The newly formed institute aims to focus on the standard and optimization of vaccination operation.
Key Takeaways of the Global Duck Medicine and Vaccines Market: