PUBLISHER: The Business Research Company | PRODUCT CODE: 1470348
PUBLISHER: The Business Research Company | PRODUCT CODE: 1470348
Poultry vaccines are biological preparations designed to provide immunity to birds against various infectious diseases that can affect poultry health, yield and mortality. These vaccines are used extensively in the poultry industry, which includes the farming of chickens, turkeys, ducks and other fowl for meat, eggs and feathers. Poultry vaccines are administered to prevent diseases that can spread rapidly within flocks, causing significant economic losses to poultry farmers and affecting the supply chain of poultry products to consumers. Poultry vaccines are developed for specific pathogens and are used in various forms, including live attenuated, inactivated and recombinant vaccines.
The poultry vaccines market consists of sales, by entities (organizations, sole traders or partnerships), of poultry vaccines that are used in poultry farming as a critical component of biosecurity and disease management programs, aiming at maintaining healthy flocks and ensuring the supply of safe and wholesome poultry products to the market. They are distributed through veterinary channels and applied to poultry through various methods, including injection, oral administration and aerosol spray, depending on the vaccine type and the disease being targeted.
The global poultry vaccines market was valued at $1,612.21 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 4.0%.
Increase In Global Trade In Poultry Products
An increase in global trade in poultry products boosted the growth of the poultry vaccines market. Global trade in poultry products raises the possibility of disease spreading across borders. To reduce the danger of disease transmission and safeguard domestic chicken populations, countries frequently enforce strong biosecurity measures and demand immunization against prevalent diseases in poultry. The rise in global trade has increased demand for poultry vaccines, which are an important instrument for avoiding the spread of infectious illnesses and protecting the health and productivity of poultry flocks. According to the October 2021 World Agricultural Supply and Demand Estimates (WASDE) released by the United States Department of Agriculture (USDA), global poultry imports increased an average of 4% per year, reaching 14.2 million metric tons in 2021. Additionally, in January 2021, the Observatory of Economic Complexity (OEC), a US-based data visualization site for international trade data, poultry meat was the 146th most traded product in the world in 2021, accounting for $30.6 billion in total. Poultry meat exports increased by 18.7%, rising from $25.8 billion to $30.6 billion between 2020 and 2021. Therefore, an increase in global trade in poultry products drove the growth of the poultry vaccines market.
Increasing Investments For Research And Development In Poultry Vaccines
An increase in investments in the market is another key trend in the poultry vaccines market. This development indicates rising awareness of the need of disease prevention and management in the poultry business, as well as increased prospects in the animal healthcare sector. For example, in May 2022, TARGAN, a US-based biotechnology company obtained $35 million in Series C equity funding led by Mountain Group Partners and NovaQuest Capital Management to commercialize its innovative vaccine delivery system for the poultry market. With the help of the funds, TARGAN will be able to quickly bring its automated and customized chicken vaccination system to market.
The global poultry vaccines market is highly concentrated, with large players operating in the market. The top ten competitors in the market made up to 60.9% of the total market in 2022.
Poultry Vaccines Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global poultry vaccines market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for poultry vaccines? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The poultry vaccines market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider poultry vaccines market; and compares it with other markets.