Description

The global companion animal vaccines market was valued at US$ 2593.669 Mn in 2020 and is anticipated to grow at US$ 4060.827 Mn by 2027 recording a CAGR of 9% during the forecast period 2021-2027. Companion animals such as dogs, cats, and horses are becoming more common in cities. The growing prevalence of various animal diseases, technological advancements in diagnostic and therapeutic with efficient drugs, developments in the field of biotechnology, and growing consumer awareness as a result of social media government initiatives are all driving demand in the global market for companion animal vaccines. Various countries have enacted strict regulations to conserve and safeguard companion animals, which must be accompanied by regular animal health checks. Another aspect that is positively impacting the global companion animal vaccines market is this. However, growing vaccine storage costs and insufficient reporting methods are preventing the global companion animal vaccines business from reaching its full potential. Several respondents and pet owners revealed that pet expenditure is increasingly becoming an integral part of their monthly expenditure and companion animals are part of several families across the developed and developing economies. Moreover, rising interactions between pets and human beings prompting the caregivers and pet owners to adopt better healthcare services to the companion animals this is projected to drive market revenue growth over the forecast period.

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