Clostridium Vaccine Market to Reflect Impressive Growth Rate by 2024
Posted: Jan 18, 2019
The global clostridium vaccine market is highly consolidated in nature with a few players holding a large share of the market, states a new market intelligence study by Transparency Market Research. In 2015, the leading five players in the market, namely Merck & Co., Zoetis, Inc., Boehringer Ingelheim, Sanofi-Aventis, and Eli Lilly and Company collectively accounted for a share of 63% of the overall market. This scenario is expected to continue throughout the forecast period. To maintain their leading position in the market and to enhance their market penetration, the leading players are emphasizing on the development of new products and innovations. In addition to this, the rising research and development activities are expected to contribute significantly towards the growth of the overall market in the next few years.
According to the market research study by Transparency Market Research, in 2015, the global market for clostridium vaccines was worth US$418.0 mn. The market is predicted to reach a value of US$643.5 mn by the end of 2024 and register a steady 4.90% CAGR between 2016 and 2024.
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The global market for clostridium vaccine has been categorized on the basis of geography into Asia Pacific, North America, Latin America, the Middle East and Africa, and Asia Pacific. The North America market is anticipated to witness a high growth in the next few years. As per the research study, this region is projected to account for a large share of the overall market in the next few years, thanks to the rising awareness among people. In addition to this, the rising demand for meat products and the reducing arable land are some of the other factors that are estimated to enhance the growth of the North America market in the coming few years. Furthermore, Asia Pacific is likely to observe a healthy growth throughout the forecast period with a significant contribution from India and China.
In terms of distribution channels, the global market for clostridium vaccine has been categorized into veterinary research institute, retail pharmacy, veterinary clinic, and veterinary hospital. Among the mentioned segments, the retail pharmacy segment is estimated to hold a large share of the global market throughout the forecast period. The rapid development of the retail industry and the technological advancements in this sector are some of the major factors that are estimated to accelerate the growth of this segment in the next few years.
The rising government initiatives regarding the animal healthcare is one of the major factors projected to encourage the growth of the global clostridium vaccine market in the next few years. The easy availability of these vaccines and that too at an affordable rate are further predicted to enhance the growth of the market in the near future. In addition to this, the rising research and development activities and innovations in this field are expected to offer potential growth opportunities for the market players across the global clostridium vaccine market. Furthermore, the rising increasing disposable income of consumers and the increasing population are some of the other factors that are projected to enhance the growth of the overall market in the next few years.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia