Global Companion Animal Veterinary Vaccines Market Forecast To 2023

The global companion animal veterinary vaccines market is expected to decline from $2.72 billion in 2019 to $2.60 billion in 2020 at a compound annual growth rate (CAGR) of -4.34%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $3.22 billion in 2023 at a CAGR of 7.43%. Increased pet ownership by Gen X and Gen Y adults contributed to the growth of the companion animal veterinary vaccines market during the historic period. However, the high cost of veterinary vaccines is expected to restrain the growth of the market.

Companion animal vaccines are substances that are used to stimulate the production of antibodies and provide immunity against one or several diseases in pets such as dogs, birds and cats. Only goods and services traded between entities or sold to end consumers are included.

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The global companion animal veterinary vaccines market is further segmented based on type and geography.
By Product: Inactivated, Live Attenuated, Recombinant, Others
By Route Of Administration: Oral, Parenteral, Others
By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores, Others.
By Geography: The global companion animal veterinary vaccines market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American companion animal veterinary vaccines market accounts for the largest share in the global companion animal veterinary vaccines market.

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Trends In The Companion Animal Veterinary Vaccines Market
Companies in the companion animal veterinary vaccine industry are increasingly collaborating and partnering with other players to drive product innovations. To succeed in the increasingly competitive veterinary market, companion animal veterinary vaccines companies are entering into new geographies and developing innovative products through sharing skills and expertise with other players.
Companion Animal Veterinary Vaccines Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides companion animal veterinary vaccines market overviews, analyzes and forecasts companion animal veterinary vaccines market size and growth for the global companion animal veterinary vaccines market, companion animal veterinary vaccines market share, companion animal veterinary vaccines market players, companion animal veterinary vaccines market size, companion animal veterinary vaccines market segments and geographies, companion animal veterinary vaccines market trends, companion animal veterinary vaccines market drivers and companion animal veterinary vaccines market restraints, companion animal veterinary vaccines market’s leading competitors’ revenues, profiles and market shares. The companion animal veterinary vaccines market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.