The most recent study conducted by Report Ocean, titled “Global Anthrax Vaccine Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Anthrax Vaccine. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Anthrax Vaccine Market to reach USD $ billion by 2027.Global Anthrax Vaccine Market is valued approximately at USD $ billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.85% over the forecast period 2021-2027. Anthrax is a deadly disease caused by the spore-forming bacteria Bacillus anthracis. The illness mostly affects cattle and wild game. Humans, on the other hand, can become infected with anthrax bacterium through direct or indirect contact with animals that have anthrax. The bacterium that causes anthrax enters the human body through a skin wound.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Furthermore, inhaling bacterial spores and eating infected meat might result in infection. Anthrax symptoms include skin lesions, fever, and vomiting. A three-dose regimen of anthrax vaccinations is used to prevent anthrax.
Cell-free protective agent (PA) vaccinations and live anthrax vaccines are two common kinds of anthrax vaccines. The market is driven by the key factors such as increased consumption of undercooked/raw meat and growing burden of anthrax globally.
According to the Agricultural Economic Insights (AEI) research, meat consumption in the United States increased from 1970 to 2020. Although the eating patterns of chicken, beef, and pork differ drastically, it raises the risk of anthrax. Furthermore, rise in technological development globally boost the market demand in the forecast years. For instance, In August 2020, Dr. Jamie Benn Felix and the Cook Wildlife Lab team with Texas A&M University College of Veterinary Medicine & Biomedical Sciences conducted a pilot trial for the first oral anthrax vaccination for cattle. However, high cost associated with vaccine may impede market growth over the forecast period of 2021-2027.
The North American market is dominating the market of anthrax vaccine. In terms of revenue, the United States dominates the North American market. The European market is quickly developing because of an increasing patient population, particularly in the United Kingdom and Germany. Asia Pacific and Latin American markets are expected to grow considerably in the foreseeable future. Developing economies such as China and India are expected to contribute to the growth of the Asia Pacific market owing to improved health care infrastructure, economic growth, an increase in the number of insurance payers, the expansion of the private health care sector, and increased awareness in these countries.
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Major market player included in this report are:
Colondo Serum Co
Emergent BioSolutions
Indian Immunologicals Limited
Proton Biopharma Ltd
Biogenesis Bago
Merck & Co. Inc.
Zoetis Inc.
Bayer AG
Altimmune (PharmAthene Inc.)
Agrovet
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Vaccine type:
Live Attenuated Vaccine
Cell Free PA Vaccine
By Application:
Animal Use
Human Use
By Distribution Channel:
Hospitals
Pharmacies
Other Distribution Channels
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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