The Veterinary Vaccines Except for Foot and Mouth market in Vietnam has shown significant growth over the past decade. As of 2023, the market was valued at $268.26 million. Over the years, the market growth rate fluctuated, peaking at 18.9% in 2013 and settling into a more modest growth pace in recent years. The year-on-year growth variation for the past two years was 3.69% in 2022 and 3.49% in 2023. The compound annual growth rate (CAGR) over the last five years is 4.42%, indicating a steady but decelerating increase in market size.
Future trends to watch:
- Emergence of innovative and safer vaccines fueled by technological advancements.
- Growing awareness and government initiatives driving higher vaccine adoption rates.
- Potential market expansion due to increased livestock farming and pet ownership.
