by Market Overview:
Poultry vaccines are biological preparations administered to poultry animals for their active immunization against various poultry diseases. The common poultry vaccine products include Infectious Bursal Disease Vaccine, Newcastle Disease Vaccine, Avian Influenza Vaccine, and Avian Encephalomyelitis Vaccine. These vaccines help prevent huge financial losses caused due to morbidity and mortality of poultry birds from aforesaid viral and bacterial pathogens.
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 Dynamics:
Increasing consumption of poultry meat and eggs globally is one of the major drivers of the poultry vaccine market growth. According to Food and Agriculture Organization (FAO), global meat consumption is projected to grow by over 70 million tons by 2050, with poultry being the fastest growing segment. Poultry vaccines help improve production efficiency and disease resistance of birds to meet rising food demand.
Growing emphasis on prevention of zoonotic diseases through vaccinations is another factor driving market expansion. Some poultry illnesses such as avian influenza have potential to infect humans too. Thus, countries are investing in poultry immunization programs for safeguarding public health. Additionally, development of thermostable and heat-resistant poultry vaccines requiring minimal cold chain logistics is fueling their adoption.
Segment Analysis
The poultry vaccine market can be segmented into inactivated vaccines, live attenuated vaccines, and recombinant vaccines. Live attenuated vaccines dominate the market, accounting for over 40% of the share. This is because live attenuated vaccines provide lifelong immunity against multiple diseases with a single dose administration, as against inactivated vaccines which require periodic booster doses.
PEST Analysis
Political: Vaccination programs by governments and international organizations promote the use of vaccines. This increases demand for poultry vaccines.
Economic: Growing disposable incomes support the consumption of poultry meat and eggs, driving demand for high productivity poultry. This increases demand for vaccines to prevent diseases.
Social: Rising awareness about food-borne illnesses and benefits of consuming protein-rich diets increases preventive healthcare measures for poultry.
Technological: Advanced vaccination techniques like spraying/injecting machines and oral vaccines help vaccinate large poultry flocks easily and effectively. This supports market growth.
Key Takeaways
The Global Poultry Vaccine Market Size is expected to witness high growth, exhibiting CAGR of 7.9% over the forecast period, due to increasing meat consumption worldwide. The market size for 2023 is estimated at US$ 1,900.4 Mn.
Regional analysis indicates Asia Pacific will continue dominating the market through the forecast period due to rapid expansion of poultry farming to meet meat demand in populous nations like China and India. The region accounted for over 35% market share in 2023.
Key players operating in the poultry vaccine market include 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. Key players are focusing on expanding their production facilities and portfolios to capitalize on growth opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
