North America Expected To Hold More Than 23% Market Share for Animal Vaccines: Fact.MR Study
According to
Fact.MR, global sales of animal vaccines are expected to exceed US$ 29 billion
by 2022-2032, with a positive CAGR of 9.2%. Animals provide milk, meat, and
wool to the food and clothing industries. As a result, animal safety has become
critical. Furthermore, the rise in canine disorders is a major concern in
animals. The demand for animal
vaccines has increased in order to avoid the same.
Historically,
from 2015 to 2021, global sales of animal vaccines increased at an 8.6 % CAGR,
totaling US$ 11 billion. Because of the fear of contracting the virus from
animals, the COVID-19 pandemic reinforced the need to increase production of
animal vaccines. As a result, governments around the world focused on
vaccinating animals.
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Furthermore,
increasing investment in research and development by key...