The surge in meat and dairy consumption, driven by a growing global population and rising incomes, is a pivotal factor fueling the expansion of the market.
This trend is evidenced by projections from The World Counts, which indicate that by 2050, global meat consumption is expected to rise to between 460 million and an astonishing 570 million tons.
To meet this rising demand, livestock production must increase, which in turn requires maintaining healthy and productive herds. Vaccination plays a crucial role in this context, as it helps prevent diseases that can severely impact livestock health and productivity.
Thus, the rising consumption of meat and dairy products is a key trend propelling the growth of the market, as it underscores the need for effective disease prevention measures to sustain and enhance livestock production.
Authors:
Mariam Faizullabhoy, Gauri Wani
Frequently Asked Questions (FAQ) :
Ruminant vaccines market accounted for USD 1.9 billion in 2023 and is set to register 6.8% CAGR during 2024-2032 driven by the increase in the livestock population.
The attenuated/modified live vaccines segment in the market held 53.2% share in 2023 as they provide quicker protection following vaccination.
North America ruminant vaccines market accounted for USD 744.8 million in 2023 and is expected to reach USD 1.3 billion by 2032 driven by the demand for effective vaccination programs.
Bimeda Biologicals, Boehringer Ingelheim International GmbH, Ceva Sant