Global Vacuum packaging market Veterinary-Animal Vaccines Market | Page 2

A new report by Infinium Global Research on Veterinary/Animal
Vaccines Market: Global Industry Analysis, Trends, Market Size and
Forecasts up to 2023, studies global as well as regional markets of
Veterinary vaccine. As per the report the global Veterinary/Animal
Vaccines market was worth USD 6422.2 million in 2016 and it is projected
to reach to USD 9276.6 million in 2023. The global market is expected to
grow at a CAGR of 5.4% over the forecast period of 2017-2023
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Brief insights
The report identifies that the global veterinary vaccines market is
expected to be driven by factors such as growing prevalence of livestock
diseases coupled with growing livestock population, increasing adoption
of companion animals, government initiatives to promote animal health
and increase animal productivity and innovation & introduction of new
vaccines. On the other side stringent regulations and high storage costs
of vaccines are likely to be the primary restraining factors affecting the
growth in the market over the next few years. Moreover, growing
awareness about use of vaccines to improve animal health among
farmers in emerging markets and technological advancements in the
manufacturing of animal vaccines are anticipated provide opportunities
for the players in vaccine market.
Regional insights
North America is the largest revenue generating region and it is mainly
driven by large scale production and consumption of Veterinary/Animal
Vaccines materials in the U.S. Asia-Pacific is expected to growth at the
highest CAGR of 7.16% over the forecast period.