Poultry vaccines are formulated to protect poultry birds such as chicken, ducks, turkeys, geese and other domesticated birds against various infections and diseases. The poultry industry plays a vital role in the food chain as chicken and eggs account for a major proportion of all meat produced for human consumption. With rapidly increasing demand for poultry products worldwide, maintaining poultry health through vaccination has become a necessity to ensure continued growth of the industry.
The global poultry vaccine market is estimated to be valued at US$ 1900.4 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing threat of bird flu outbreaks remains a key driver propelling growth of the global poultry vaccine market over the forecast period. Bird flu or avian influenza virus causes severe respiratory disease in chicken and can result in high mortality rates if not controlled promptly. With expanding commercial poultry farming practices worldwide, disease outbreak in a single farm can easily spread to other farms and regions, threatening public health as some strains of bird flu are zoonotic. Growing threat of transboundary epidemic and pandemic outbreaks has prompted governments and commercial poultry producers to focus on routine vaccination strategies. Moreover, growing global demand for poultry meat and eggs along with need to prevent production losses associated with disease outbreaks is translating into increased vaccine usage, driving market growth.
SWOT Analysis
Strength: The poultry vaccines market has high growth potential due to increasing focus on animal health. Vaccines help prevent various diseases and ensure healthy growth of poultry population. The market is witnessing development of novel vaccines with advanced technologies providing longer lasting immunity.
Weakness: Live attenuated vaccines carry a risk of infection to vaccinated animals. Variations in pathogenicity and virulence of diseases poses challenges in developing broad-spectrum vaccines. High costs involved in research and development activities.
Opportunity: Growth opportunities exist in emerging markets due to rising meat consumption. Increasing awareness about zoonotic diseases will boost preventive healthcare adoption. New product launch activity aims to address emerging diseases.
Threats: Entry of local players providing low cost substitutes impacts established brands. Regulatory norms pertaining to veterinary biologicals differ across regions restricting seamless trade. Disease outbreaks negatively impact poultry industry and vaccine demand.
Key Takeaways
The global Poultry Vaccine Market Trends is estimated to be valued at US$ 1900.4 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030.
The global poultry vaccine market is expected to witness high growth over the forecast period owing to rising meat demand and focus on animal health. The Asia Pacific region dominates the market currently due to growing meat consumption in China, India and other Southeast Asian countries. These emerging economies are witnessing strong growth in poultry production to cater rising meat demand from expanding middle class population.
Key players related content comprises
Key players operating in the poultry vaccine market are GlaxoSmithKline plc, AbbVie Inc., Merck & Co., Inc., Dr. Reddy's Laboratories Ltd., F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Cipla Inc., Aurobindo Pharma, and Gilead Sciences. These players focus on new product launches, acquisitions and geographical expansions to strengthen market position.
