The global swine, ruminant and companion animal vaccines market size was valued at USD 4,656.6 million in 2021 and is poised to grow at a significant CAGR of 6.1% during the forecast period 2022-28. Global livestock production has increased in response to the rising demand for animal products. Moreover, many reasons, such as changing food tastes as a result of changing lifestyles and population expansion, enhance the demand for animal products. These factors are aiding in the development of the market. These elements are assisting the market's development. The increase in human and animal populations, combined with environmental deterioration and globalized trade and travel, increases the potential for pathogen transmission within and between species. The lack of well-developed infrastructure & resources for vaccine development and limited expenditure on pet healthcare in emerging countries may negatively impact the animal vaccines market expansion.
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