Poultry Vaccines Market Size Worth $3.39 Billion By 2030: Grand View Research, Inc.
SAN FRANCISCO, April 27, 2022 /PRNewswire/ -- The global poultry vaccines market size is expected to reach USD 3.39 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.1% from 2022 to 2030. The key factors driving the market include the rising consumption of poultry meat and eggs, the prevalence of avian diseases, and the increasing poultry population in key markets. According to OECD-FAO Agricultural Outlook, poultry meat consumption in the U.S. was pegged at 19,169 thousand tons in 2020. This consumption is projected to increase over the next few years.
Key Insights & Findings from the report:
The increasing prevalence of infectious diseases in poultry and product developments in the field are anticipated to create growth opportunities in the market.
By product, attenuated live vaccines held the largest revenue share in 2021 owing to their relatively low production cost and long duration of protection.
The Egg Drop Syndrome (EDS) disease type segment is expected to register a lucrative growth rate over the forecast period due to the growing use of inactivated vaccines to prevent viral disease.
As per the MSD Vet Manual, EDS vaccines can also be given in combination with other vaccines, such as those for Newcastle disease, thus increasing their adoption rate.
The breeder application segment dominated the market in 2021 due to the increasing use of vaccines at breeder farms to secure the health of the poultry and increase farm's productivity.
Europe held the largest revenue share in 2021 due to favorable government policies, rising concerns of zoonoses, and initiatives by key companies.
Read 150-page market research report, "Poultry Vaccines Market Size, Share & Trends Analysis Report By Product (Attenuated Live Vaccines, Inactivated Vaccines, Recombinant Vaccines), By Disease Type, By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Poultry Vaccines Market Growth & Trends
The COVID-19 pandemic resulted in several challenges for the poultry industry including a fall in consumption, increased concerns over zoonoses, and low sales. For example, as per the Economic Times, in March 2020, the price of chicken plunged by as much as 70% due to the reduced consumption of meat, fish, eggs, and chicken. However, the pandemic also led to the rising awareness regarding diseases in animals and increasing demand for safe and healthy poultry products. This is anticipated to create opportunities for poultry vaccines manufacturers as poultry farms must ensure healthy layer, broiler, and breeder stock. In fact, in April 2021, the CEO & MD of Hester Biosciences Ltd. stated that the market for poultry vaccines is set to grow significantly post COVID.
In addition, the advent of new vaccines, such as Salmonella-vectored vaccines, which protect domesticated birds against necrotic enteritis is anticipated to provide a growth platform to this market. In addition, the rising usage of poultry vaccines by research institutes and colleges, along with vaccination awareness programs, is fueling the growth of the market. For instance, in July 2019, the Veterinary College and Research Institute based in Madurai, India started vaccinating domesticated birds, predominantly chickens, to save farmers from suffering significant losses.
Technological advancements in poultry vaccines, rising demand for animal protein, concerns over food safety, animal welfare, and microbial resistance, increased focus on avian healthcare, and shift from treatment to the prevention of diseases are some of the other factors anticipated to create growth opportunities in the market. For instance, the TAbic Vaccines Line by Phibro Animal Health Corporation comprises 25+ vaccines for poultry for protection against Newcastle disease, infectious bronchitis, and other poultry diseases.
Poultry Vaccines Market Segmentation
Grand View Research has segmented the global poultry vaccines market on the basis of application, product, disease type, and region:
Poultry Vaccines Market - Application Outlook (Revenue, USD Million, 2017 - 2030)
Poultry Vaccines Market - Product Outlook (Revenue, USD Million, 2017 - 2030)
Attenuated Live Vaccines
Poultry Vaccines Market - Disease Type Outlook (Revenue, USD Million, 2017 - 2030)
Infectious Bursal Diseases
Egg Drop Syndrome
Duck Viral Enteritis
Inclusion Body Hepatitis
Poultry Vaccines Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)
List of Key Players of Poultry Vaccines Market
Boehringer Ingelheim International GmbH
Intervet Inc., a subsidiary of Merck & Co., Inc.
Hester Biosciences Limited
Vaxxinova International BV
Phibro Animal Health Corporation
Check out more related studies published by Grand View Research:
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Livestock Monitoring Market - The global livestock monitoring market size is expected to reach USD 19.37 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 17.63% from 2022 to 2030. The market growth can be attributed to the increased focus on livestock monitoring, along with disease detection. Furthermore, the prevalence of zoonotic diseases among livestock, rising adoption of IoT and AI by dairy farmers, increasing number of dairy farms, and significant cost-saving due to livestock monitoring management are some of the major drivers of the market.
Brazil Veterinary Vaccines Market - The Brazil veterinary vaccines market size is expected to reach USD 707.8 million by 2027 registering a CAGR of 6.4%, according to a new report by Grand View Research, Inc. Factors, such as increasing livestock population and mandatory vaccination, are propelling the growth of this market.
Browse through Grand View Research's Animal Health Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE Grand View Research, Inc.