Coherent Market Insights

Poultry Vaccine Market to Surpass US$ 3,240.2 Mn by 2030

Poultry Vaccine Market to Surpass US$ 3,240.2 Mn by 2030 - Coherent Market Insights

Publish In: Feb 09, 2023

Vaccines help to prevent any particular disease by boosting the bird’s immune system to produce antibodies, which in turn, fight against organisms, especially E. coli, Salmonella, and Mycoplasma gallisepticum (MG), and diseases such as Marek’s disease, avian rhinotracheitis (ART), infectious bronchitis (IB), Newcastle disease, and infectious bursal disease (Gumboro disease). The expected outcome of the administration of a poultry vaccine is that birds will develop immunity to pathogens and thus be protected against disease.

Market Statistics:

The global Poultry Vaccine Market is estimated to account for US$ 1,900.4 Mn in terms of value by the end of 2023.

Drivers:

Increase in demand for safe and effective poultry vaccine across the globe is expected to augment the growth of the global poultry vaccine market during the forecast period. For instance, market players are focusing on developing and launching safe and effective poultry vaccines in the market. In May 2021, Boehringer Ingelheim India announced the launch of poultry vaccine VAXXITEK HVT+IBD. An innovative recombinant vaccine, VAXXITEK HVT+IBD is a single shot vaccine, ensuring life-long protection for all types of production chickens. Designed to build and strengthen a stronger immune foundation in poultry, the vaccine enables better flock health and performance. VAXXITEK HVT+IBD protects against two major immunosuppressive diseases.

Opportunities:

Increasing incidences of zoonotic diseases and favorable initiatives taken by government agencies and animal associations are expected to provide significant growth opportunities for players in the global poultry vaccine market. For instance, zoonoses are defined as those diseases and infections naturally transmitted between people and vertebrate animals (category of animals, which includes mammals, birds and reptiles). According to the World Health Organization (WHO), more than one billion cases of illness as well as millions of death occur every year across the globe from zoonoses. Around 60% of emerging infectious diseases that are reported globally are zoonoses. This in turn is expected to propel the growth of the market.

Restraints:

High cost of poultry vaccine, high storage costs for vaccines, and use of counterfeit medicine are major factors expected to hamper growth of the global poultry vaccine market. For instance, costs associated with vaccination have increased, as many indirect costs are associated with the vaccine production. Moreover, vaccines that are wasted owing to equipment failures add up to a significant monetary and public health cost. According to the National Institute of Standards and Technology (NIST), more than 35% of vaccines lost their potencies during their shipping around the world, as they were stored at temperatures, which were either too high or low. The cost of vaccine handling has also increased due to stringent guidelines.

Global Poultry Vaccine Market - Impact of Coronavirus (Covid-19) Pandemic:

The outbreak of COVID-19 adversely impacted the poultry industry with dampened demand, low sales, unsold inventories, and a drop in prices of poultry meat and eggs. Although dairy production, egg production, and meat production were included in essential services, but strict measures, such as nationwide lockdown and travel restrictions disrupted the supply chain. However, the pandemic has created opportunities for the market players which can be leveraged to gain market share. This is attributed to the increase in demand for safe food stock and products, rise in awareness regarding animal diseases, and increasing concerns over zoonoses.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/poultry-vaccine-market-5527

Key Takeaways:

The global poultry vaccine market was valued at US$ 1,766.8 Mn in 2022 and is forecast to reach a value of US$ 3,240.2 Mn by 2030 at a CAGR of 7.9%between 2023 and 2030.

Among disease segment, new castle DISEASE held dominant position in the global poultry vaccine market in 2022, accounting for 27.6% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.

Market Trends:

Rise in focus on vaccine development and increase in usage of biotechnologies are one of the key trends expected to boost growth of the global biosurgery market. Over the past years, the poultry vaccine market has evolved rapidly, in terms of the product development. Players in the market as well as researchers and new vaccine companies are focusing on developing and launching safe and effective vaccines in the market. Moreover, the poultry industry has leveraged biotechnologies to improve the safety and convenience of avian vaccination. For instance, Merial's VAXXITEK HVT + IBD (vector vaccine), available in more than 75 countries, worldwide. The development of new technologies will stimulate development of improved products.

Competitive Landscape:

Major players operating in the global poultry vaccine market include Zoetis Inc., Merck & Co., Elanco, Ceva Santé Animale, Boehringer Ingelheim, Biovac, Hester Biosciences Limited, Dechra Pharmaceuticals PLC, Venky’s Limited, and Phibro Animal Health Corporation, among others.

Recent Developments:

In April 2022, Elanco, in collaboration with Ginkgo Bioworks, launched a new animal healthcare company called BiomEdit to develop drugs, nutritional products, and disease-monitoring methods for livestock. The new firm hopes to address antibiotic resistance and improve sustainability.

In January 2020, Boehringer Ingelheim announced the launch of the VAXXITEK HVT+IBD+ND vaccine to protect poultry against various diseases, such as Newcastle Disease, Marek’s Disease, and Infectious Bursal Disease (classic and variant types).

In July 2018, Boehringer Ingelheim announced an investment of more than 200 million euros into a new strategic production centre for Veterinary Public Health. Boehringer will establish the new site in the French Rhône-Alpes region, which is known as the European ‘vaccine valley’.

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