Demand for vet vaccines surges in the Middle East amid rising foodborne & zoonotic infections. The shift from reactive to preventive treatment minimizes costs & side effects, fostering industry growth.
The Veterinary Vaccine Industry in the Middle East is gearing up for substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 4% expected to propel the industry to new heights by 2033. According to the latest analysis by Future Market Insights (FMI), the demand for veterinary vaccines in the region is poised to reach US$ 627.1 million in 2023, with sales forecasted to soar and cross a valuation of US$ 973.8 million within the next decade.
The surge in demand for veterinary vaccines in the Middle East is attributed to the rising instances of foodborne and zoonotic infections among the regional population. The paradigm shift in veterinary treatment approaches, moving from curative/reactive to preventive methods, is a notable trend in these countries. Preventive treatments not only incur smaller costs but also have fewer side effects compared to reactive measures, which often result in widespread animal slaughter.
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The rebound of economic prosperity in MEA markets is expected to contribute towards increased demand for processed healthy meat products. This will fuel the demand for effective vaccination of livestock, especially in major animal farming and meat-producing nations in the region with a diversified herd such as Sudan, Turkey, Egypt, and KSA.
Rising per capita disposable income levels are largely contributing to the demand for processed food items. This is expected to drive the growth of veterinary vaccines in poultry and livestock segments.
The key players in the veterinary vaccine industry are focusing on finding innovative products to control zoonotic infection rates. Along with this, various advancements in biotechnology are expected to create a favorable platform for the development of various veterinary vaccines in developing markets such as UAE, KSA, Turkey, and Jordan. These techniques include next-generation sequencing, synthetic biology, and systems biology, among others.
Further, continued investments in multi-disciplinary vaccinology research could improve vaccine development efficiency and shorten the time-to-market for upcoming veterinary vaccines.
Key players are working on innovative products, conducting acquisitions, mergers, and agreements with other companies to improve their market presence and tap into less competitive emerging markets.
For instance, In September 2018, Boehringer Ingelheim announced that they would be donating 75,000 doses of rabies vaccines to the Global Alliance for Rabies Control, as an effort to recognize World Rabies Day on September 28th.
Such developments not only strengthen the company’s existing portfolio but also help to increase their presence at the regional as well as global level and help companies to sustain the increasing competitive pressure.
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Key Takeaways:
“Increased demand for processed meat products around the world will drive the demand for veterinary vaccines market in the Middle East,” says the FMI Analyst.
Who is winning?
The key manufacturers of the veterinary vaccines market are adopting strategies such as partnership strategies for global expansion and improving their hold over the global market.
In January 2021, Merck Animal Health announced the acquisition of Poultry Sense Ltd, which provides health and environmental monitoring solutions for the poultry industry.
In September 2019, Ceva, in partnership with Biotecon Diagnostics, announced the launch of their latest product, a real-time diagnostic kit that will help poultry producers fight salmonella infections in their farms.
The key market players of the Middle East veterinary vaccines market include :
JOVA, Bioveta, Inc., Intervac Pvt. Ltd., Zoetis, Elanco, Merial, Merck & Co. Inc, Bayer Pharma AG, Ceva and Boehringer Ingelheim.
Want more insights?
Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The Middle East veterinary vaccines market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights into the Middle East veterinary vaccines market. The veterinary vaccines market is segmented into five parts based on vaccine type (attenuated live vaccines, inactivated vaccines, toxoid vaccines, DNA vaccines, recombinant vaccines, and others) based on animal type (companion animals, livestock animals, and equine) based on disease indication (foot and mouth disease, Newcastle disease, PPRS, canine parvovirus, brucellosis, avian influenza, and others), based on end-user (hospital pharmacies, veterinary clinics, private veterinary pharmacies and others) and based on country ( KSA, UAE, Turkey, Jordan, Sudan, Egypt and Rest of MEA).
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Middle East Veterinary Vaccines, by Category
By Vaccine:
By Animal:
By Disease Indication:
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI) Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the
Middle East Veterinary Vaccine Industry , Middle East Veterinary Vaccine , Middle East Veterinary Vaccine Market
Feb 05, 2024
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