Infectious Bronchitis Segment to Dominate APAC Poultry Vaccines Market During 2021–2028
According to The Insight Partners market research study on “APAC Poultry Vaccines Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Dosage, Disease, and Technology” is expected to reach US$ 828.08 million by 2028 from US$ 502.43 million in 2021. The market is estimated to grow at a CAGR of 7.4% from 2021 to 2028. The report provides trends prevailing in the APAC poultry vaccines market along with the drivers and restraints pertaining to the market growth. Growth of market in untapped economies and rising market consolidation are the major factor driving the growth of the APAC poultry vaccines market. However, deactivation of the vaccine after vaccination and managemental, technical and practical faults in poultry vaccines hinders the growth of APAC poultry vaccines market.
In case of COVID-19, APAC is highly affected specially India. People are packing India’s public Supermarkets/Hypermarkets, as many are unable to afford private ones that generally uphold higher standards of care. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. As a result of COVID, on June 02, 2020, the Government of Japan (GOJ) declared a state of emergency and asked people to stay home. During these lockdowns, the demand for poultry meat gone down due to restaurants shutdown. According to Investment Information and Credit Rating Agency of India Limited, poultry industry suffered great losses during the recent lockdown with Q4FY2020 being the worst quarter in 2020. The industry incurred huge losses due to sharp decline in the sale, demand, realization, and profitability. Rumors spread in social media, about poultry birds as possible vectors of the virus, further lead to the demand drop resulting sales drop and hence realizations. Also, in Jan 2021, the region's largest bird flu outbreak in years has hit Asia's chicken farmers, with the deadly virus impacting farms from Japan to India, upsetting some poultry prices and showing no signs of easing. Since November 2020, more than 20 million chickens have been destroyed in South Korea and Japan. The highly dangerous H5N8 virus arrived in India, the world's sixth largest producer, last week and has been reported in ten states. The Asian outbreak comes on the heels of COVID-19, which first hampered chicken sales in some areas due to bogus disease fears but is now driving up demand due to increased home cooking. Chicken prices in India plunged nearly a third last week as health-conscious buyers avoided the meat in the aftermath of the outbreak.
The APAC poultry vaccines market has been segmented into the dosage, disease, technology, and country. Based on dosage, market has been segmented into the duct vaccines, liquid vaccines, and freeze-dried vaccines. The liquid vaccines segment dominated the APAC poultry vaccines market in 2020 and is also expected to be fastest growing during forecast period. Based on disease, market has been segmented into infectious bronchitis, avian influenza, Marek’s disease, Newcastle disease, and others. The infectious bronchitis segment dominated the APAC poultry vaccines market in 2020 and avian influenza segment is expected to be fastest growing during forecast period. Based on technology, market has been segmented into toxoid vaccines, recombinant vaccines, inactivated vaccines, live attenuated vaccines, and others. The live attenuated vaccines segment dominated the APAC poultry vaccines market in 2020 and recombinant vaccines segment is expected to be fastest growing during forecast period.
Boehringer Ingelheim International GmbH; CEVA; Hester Biosciences Limited; Merck & Co., Inc.; PHIBRO POULTRY VACCINES CORPORATION; Venky's India; Virbac; and Zoetis Inc. are among the leading companies in the APAC poultry vaccines market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Zoetis has reintroduced the vaccine Poulvac Coryza ABC IC3 to help U.S. poultry producers combat outbreaks of avian coryza, an acute respiratory infection, according to an announcement.
The Report Segments the APAC Poultry Vaccines Market as Follows:
APAC Poultry Vaccines Market – By Dosage
- Duct Vaccines
- Liquid Vaccines
- Freeze-Dried Vaccines
APAC Poultry Vaccines Market – By Disease
- Infectious Bronchitis
- Avian Influenza
- Marek’s Disease
- Newcastle Disease
- Others
APAC Poultry Vaccines Market – By Technology
- Toxoid Vaccines
- Recombinant Vaccines
- Inactivated Vaccines
- Live Attenuated Vaccines
- Others
APAC Poultry Vaccines Market – By Country
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
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