India Animal Vaccine Market to Reach $ 232 Million by 2026
Increase in number of
diseases in animals is driving India animal vaccine market
According to
TechSci Research report, “India
Animal Vaccine Market By Animal Type, By Technology, By Disease, By Route
of, By Distribution Channel, Competition, Forecast &
Opportunities, FY 2026”, India animal vaccine market is forecast to cross $
232 million by FY 2026. With rising availability of chicken, eggs and other poultry products, the
requirement of maintaining the quality and health of these products has also increased,
which is leading to growth in the country’s animal vaccine market. Moreover, advances
in inactive vaccine technology are expected to bode well for India animal
vaccine market through the forecast period. Furthermore, increasing consumption
of meat and animals is driving the animal vaccine market in the country. Along
with this, supportive government funding, reimbursement policies and increasing
investments by public and private bodies is expected to fuel the market growth over
the next five years. However, there are some factors that can act as major
impediments to the growth of India animal vaccine market through FY 2026 such
as concerns pertaining to reimbursement policies and regulatory scenarios.
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India animal vaccine market is
segmented on the basis of animal type, technology, disease, route of
administration, distribution channel, and region. Based on animal type, the
market is segmented into livestock, swine, poultry, companion animals, and
others. Livestock segment dominates the market, followed by swine and poultry
segments. In terms of technological segmentation, the inactive
vaccine segment accounts for the largest share in India animal vaccine market and
is further anticipated to maintain its dominance during the forecast period as
well. Other prominent technology segments in the country’s animal vaccine
market include Live Attenuated Vaccine, Toxoid Vaccine and Recombinant Vaccine
segments.
In term of route
of administration, the market is segregated into Subcutaneous, Intramuscular,
Intraocular, Oral and others. Out of these, subcutaneous segment accounted for
largest market share until FY 2020 and is further anticipated to grow at a high
pace in the years to come. Zoetis,
Inc., Elanco India Private Limited, Merck & Co., Inc., Ceva Sante Animale SA, Bio-med, Inc, Globion India Private
Limited, Biovet Private Limited, Brilliant Bio Pharma Pvt Ltd, Hester
Biosciences Limited, Indovax Pvt. Ltd. are among the leading players operating in India animal
vaccine market. Market players are adopting several growth strategies to
enhance animal vaccine market.
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“Considering
the distribution channels, veterinary hospitals continue to dominate the animal
vaccine market in India, with veterinary clinics standing at a distant second.
Both the segments grabbed around 80% of animal vaccines sales in the country in
FY 2020, with pharmacies accounting for the remaining sales. This trend is
expected to prevail over the course of next five years” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Animal Vaccine Market By Animal Type, By Technology, By
Disease, By Route of, By Distribution Channel, Competition, Forecast &
Opportunities, FY 2026” has evaluated the future growth potential of India animal
vaccine market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India animal vaccine market.
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