Asia Pacific Poultry Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Dosage (Duct Vaccines, Liquid Vaccines, and Freeze-Dried Vaccines), Disease (Infectious Bronchitis, Avian Influenza, Marek’s Disease, Newcastle Disease, and Others), and Technology (Toxoid Vaccines, Recombinant Vaccines, Inactivated Vaccines, Live Attenuated Vaccines, and Others)
The APAC poultry vaccines market is expected to grow from US$ 502.43 million in 2021 to US$ 828.08 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028.
Rising market consolidation is expected to surge the market growth. The APAC poultry vaccines market is characterized by the presence of various small and big companies. The market players are adopting the strategies such as new product launch, regional expansion, and technological advancements to increase their market share. Market players are investing in R&D to develop advanced technologies and gain more revenue share. For instance, in July 2019, CEVA Company and IDT Biologika GmbH announced their successful completion of the acquisition of IDT’s veterinary biopharmaceutical as well as R&D activities by CEVA. Similarly, in 2020, Merck Poultry Vaccines signed a partnership agreement with Automazioni VX, Inc. (US). This partnership was aimed at the introduction of Innoject Pro, a newly designed subcutaneous chick vaccination technology. The technology will be utilized in combination with Merck Animal Health’s Innovax range of vaccines, which is used for the protection against infectious poultry diseases. Further, in Jan 2020, Boehringer Ingelheim’s and Poultry Vaccines business launched a vaccine to protect poultry from three diseases, VAXXITEK HVT+IBD+ND provides a strong immune foundation and optimized protection against Marek's Disease, Infectious Bursal Disease (classic and variant types) and Newcastle Disease. The market players are also likely to enter strategic ventures for bringing in new products to the APAC market.
In case of COVID-19, APAC is highly affected specially India. People are packing India’s public Supermarkets/Hypermarkets, as many are unable to afford private ones that generally uphold higher standards of care. The outbreak has severely affected the tourism industry and imposed supply chain disruptions; moreover, low-income countries face additional challenges due to the shortage of healthcare infrastructure. Restrictive measures have been put forth in South Korea, Malaysia, Singapore, the Philippines, and India to prevent disease transmission. As a result of COVID, on June 02, 2020, the Government of Japan (GOJ) declared a state of emergency and asked people to stay home. During these lockdowns, the demand for poultry meat gone down due to restaurants shutdown. According to Investment Information and Credit Rating Agency of India Limited, poultry industry suffered great losses during the recent lockdown with Q4FY2020 being the worst quarter in 2020. The industry incurred huge losses due to sharp decline in the sale, demand, realization, and profitability. Rumors spread in social media, about poultry birds as possible vectors of the virus, further lead to the demand drop resulting sales drop and hence realizations. Also, in Jan 2021, the region's largest bird flu outbreak in years has hit Asia's chicken farmers, with the deadly virus impacting farms from Japan to India, upsetting some poultry prices and showing no signs of easing. Since November 2020, more than 20 million chickens have been destroyed in South Korea and Japan. The highly dangerous H5N8 virus arrived in India, the world's sixth largest producer, last week and has been reported in ten states. The Asian outbreak comes on the heels of COVID-19, which first hampered chicken sales in some areas due to bogus disease fears but is now driving up demand due to increased home cooking. Chicken prices in India plunged nearly a third last week as health-conscious buyers avoided the meat in the aftermath of the outbreak.
The infectious bronchitis segment led the APAC poultry vaccines market based on disease in 2020. The infectious bronchitis virus (IBV) is an avian gamma coronavirus that mainly affects chickens, while it has also been detected in pheasants and peafowl, which may be infected sub clinically. The virus is found across region and several antigenic variants can coexist in a particular area. Some IBV kinds are ubiquitous, whereas others are only found in specific areas. IBV is spread by aerosol, ingestion of contaminated feed and water, and contact with contaminated equipment and clothing. Infected chickens shed it in respiratory discharges and faeces, and it can be spread by aerosol, ingestion of contaminated feed and water, and contact with contaminated equipment and clothing. The virus can be transmitted sporadically for up to 20 weeks after infection in naturally infected hens and those vaccinated with live IBV. Growing infectious bronchitis disease around the region is expected to escalate the demand of poultry vaccines, thereby driving the APAC poultry vaccines market.
The overall APAC poultry vaccines market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the APAC poultry vaccines market. The process also serves the purpose of obtaining overview and forecast for the APAC poultry vaccines market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC poultry vaccines market. Boehringer Ingelheim International GmbH; CEVA; Hester Biosciences Limited; Merck & Co., Inc.; PHIBRO POULTRY VACCINES CORPORATION; Venky's India; Virbac; and Zoetis Inc. are among a few players operating in the APAC poultry vaccines market.
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