The veterinary vaccines market in Lebanon, excluding Foot and Mouth, exhibited a growth trajectory from 2013 to 2017, peaking at $25.316 million in 2017. However, from 2018 onwards, the market entered a decline, reaching $16.075 million by 2023. The average annual decline over the last five years (CAGR) stood at -7.56%. Notably, the market has seen continuous contraction since 2018, reflecting economic pressures and possible shifts in demand within the region.
Future trends to watch in this market include increased emphasis on technological advancements in vaccine development, potential economic recovery efforts in Lebanon, and increased awareness regarding animal healthcare, which could stabilize or revitalize growth.
