South America Veterinary Vaccines Market is expected to reach US$ 997.88 Million by 2028

PRESS RELEASE BY The Insight Partners 10 Feb 2022

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Toxoid Vaccines Segment is Expected to be Fastest Growing During Forecast Period for SAM Region  

According to The Insight Partners market research study on “SAM Veterinary Vaccines Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Vaccine Type and Technology” is expected to reach US$ 997.88 million by 2028 from US$ 671.54 million in 2021. The market is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The report provides trends prevailing in the SAM veterinary vaccines market along with the drivers and restraints pertaining to the market growth. Growing market in untapped economies and awareness of diagnosis and increasing incidence of zoonotic diseases are the major factor driving the growth of the SAM veterinary vaccines market. However, strict government rules related to usage of veterinary vaccines hinders the growth of SAM veterinary vaccines market.   

In case of COVID-19, SAM is highly affected especially Brazil. The outbreak of COVID–19 has stringently affected medical services in the SAM region. Also, the nations are famous for medical tourism, which is also influenced by the pandemic. The infection is being transferred from an infected human to an animal. Thus, creating a concern about the spread of COVID19 among the animals is not yet reported. There is a strong possibility of infection of animals in the region in the region. Various investigation studies have been performed to check the disease of COVID19 among the animals. For instance, the National Library of Medicine, in April 2021, published a study ‘Investigation of SARS-CoV-2 condition in dogs and cats of humans diagnosed with COVID-19 in Rio de Janeiro, Brazil.’ The study concluded that the presence and persistence of SARS-CoV-2 disease had been identified in dogs and cats from households with human COVID-19 cases in the locations such as Rio de Janeiro, Brazil. The recommends people with COVID-19 should avoid close contact with their pets during the time of their illness. Thus, the pandemic is expected to impact the animal health-related markets in the region.

The SAM veterinary vaccines market is segmented based on vaccine type, technology, and country. Based on vaccine type, the market is segmented into livestock vaccines, companion animal vaccines, and others. The livestock vaccines segment dominated the market in 2020 and companion animal vaccines segment is expected to be fastest growing during forecast period. The livestock vaccines segment is further bifurcated into bovine vaccines and small ruminant vaccines. Similarly, the companion animal vaccines segment is divided into feline vaccines, canine vaccines, and others. Based on technology, the market is segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, conjugate vaccines, and others. The live attenuated vaccines segment dominated the market in 2020 and toxoid vaccines segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into Brazil, Argentina, and rest of SAM.  

Boehringer Ingelheim International GmbH; Ceva; Elanco; HIPRA; Merck & Co., Inc.; NEOGEN Corporation; Virbac; and Zoetis Inc. are among the leading companies in the SAM veterinary 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 2021, Ceva invested in a new state-of-the-art cryogenic storage facility at its Ceva Phylaxia to support the rising demand for its vaccines. The new facility is about 44 Ha (440.000 m2). Moreover, the Hungarian Government and local Monor Municipality have supported the company's investment to ensure that the country remains at the lead of Europe as a centre of perfection in biotechnology-related businesses.

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