APAC Veterinary Vaccine Industry Overview
|Study Period:||2018 - 2028|
*Disclaimer: Major Players sorted in no particular order
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APAC Veterinary Vaccine Market Analysis
The Asia-Pacific veterinary vaccine market is expected to witness a CAGR of 6.12% over the forecast period.
The COVID-19 pandemic has affected the market studied significantly due to the restrictions on non-emergency hospital visits. However, as per the data published by the National Institute of Health in March 2021, it is observed that pet adoption increased in Asian countries during the pandemic and initial vaccinations on the pets were done regularly. Hence, the COVID-19 pandemic had affected the pet vaccine market slightly. However, other than pets, the farm animal vaccination was not done at a given time due to the pandemic restrictions. Hence, it is believed that the overall veterinary vaccines market was affected as a result of COVID-19.
The key factors propelling the growth of this market are the increasing incidences of livestock diseases, initiatives by various government agencies, animal associations, leading players in the Asia-Pacific region, and the increasing incidences of zoonotic diseases. According to a research article by Colella and Low et al., published in 2020, many zoonotic vector-borne diseases have been reported in Southeast Asian countries. Dogs and cats play a significant reservoir role in transmitting these diseases. For instance, zoonotic vector-borne pathogens such as Rickettsia felis and Bartonella henselae have been reported in patients in contact with dogs and cats. According to the study titled “Zoonotic potential and prevalence of Salmonella serovars isolated from pets,” published in the Infection Ecology & Epidemiology in September 2021, one of the most dangerous zoonotic diseases in the world is salmonellosis. Salmonella prevalence in animals and risk factors for increased transmission of salmonella spp. from animals to people were evident. Hence, with the emergence of such diseases in animals, the market studied is expected to witness growth over the forecast period.
Hence, looking at the above-mentioned factors, the market studied is expected to witness strong growth over the forecast period.
APAC Veterinary Vaccine Industry Segments
As per the scope of this report, veterinary vaccines are used to immunize domestic and livestock animals. The Asia-Pacific Veterinary Vaccine Market is Segmented by Animal Vaccine Type (Livestock Vaccines, Companion Animal Vaccines), Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Other Technologies), and Geography (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific). The report offers the value (in USD million) for the above segments.
|By Animal Vaccine Type|
|Live Attenuated Vaccines|
|Rest of Asia-Pacific|
APAC Veterinary Vaccine Market Trends
This section covers the major market trends shaping the APAC Veterinary Vaccine Market according to our research experts:
The Live Attenuated Vaccines Segment is Expected to Hold the Largest Market Share
The live attenuated vaccines segment of the Asia-Pacific veterinary vaccine market is believed to have the largest market size. Most of the vaccines licensed for oral or intranasal administration are attenuated. These vaccines must be stored and handled properly, with strict attention to temperature, even in the lyophilized (free-dried) state. After the reconstitution, the vaccine dose should be administered promptly (within 1 hour) or discarded. Some examples of these types of vaccines include canine distemper virus vaccines and all canine parvovirus and adenovirus-2 vaccines. Hence, it is expected to impact positively on the market in this segment.
The Indian Council of Agricultural Research (ICAR) announced in September 2022 that the Lumpy Skin Disease (LSD) virus, has killed almost 50,000 heads of cattle in multiple states across India since April 2022. For these diseases, a live-attenuated vaccine is being developed to control the mortality of cattle across the country. Similarly, as per the data from Animal Health Australia published in June 2022, the country is currently focused on the development of a live-attenuated vaccine for Foot and Mouth Diseases caused by a virus in the livestock. The data further states that the need for the development of this vaccine has arisen due to the large livestock population in the country acting as a part of the growing economy of Australia.
Hence, with the above-mentioned factors, the market studied is expected to witness strong growth over the forecast period.
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China is Expected to Witness Healthy Growth Over the Forecast Period
In recent years, China has witnessed a significant increase in the adoption of dogs and cats as pets, as they are considered to be the most favorite companions of human beings. The increasing nuclear family trend across the country has accelerated pet ownership and this trend is expected to continue during the forecast period which in turn is expected to increase the demand for the animal health product and services in the country and thus, fuel growth in the veterinary vaccine market in China over the forecast period.
According to the January 2022 report of the Pethadoop, a platform specializing in China's animal health sector, about 58 million cats and 54 million dogs lived in urban households in China as of the year 2021, and cats made up 59.5 percent of all the pets owned by the 30,000 respondents questioned. As per the report, the trend of owning a pet is increasing in China which is expected to be the major driving factor for the growth of the studied market in the country.
Also, as per the February 2022 report of the China Pet Industry Association, including medical treatment services, the total sale for cat and dog consumption in 2021 was approximately USD 38.4 billion USD and in 2021, the average expenditure on the dog was about USD 406, while for a cat it was USD 280. This data shows expenditure on the pet in China and with an increase in pets number in the country, this expenditure is also expected to increase which is anticipated to have a direct impact on the growth of the veterinary vaccine market in China.
According to June 2022 report published by the Australian Trade and Investment Commission, the rise in pet ownership in China is being fueled by cultural and demographic factors. These patterns are a component of bigger shifts taking place in China and are predicted to continue in the future which is expected to fuel growth in the studied market.
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APAC Veterinary Vaccine Market Competitor Analysis
The Asia-Pacific veterinary vaccine market is a moderately consolidated market and consists of several major players. In terms of market share, a few of the major players currently dominate the market. Companies, like Zoetis Inc., Merck & Co. Inc., Virbac, Eli Lily and Company, and Boehringer Ingelheim International GmbH, hold the substantial market share in the Asia-Pacific veterinary vaccine market.
APAC Veterinary Vaccine Market Top Players
Boehringer Ingelheim International GmbH
Merck & Co. Inc.
*Disclaimer: Major Players sorted in no particular order
APAC Veterinary Vaccine Market Recent Developments
- In June 2022, Union Minister of Agriculture & Farmers’ Welfare. Shri Narendra Singh Tomar launched Animal Vaccine and other Diagnostic Kits developed by the ICAR-National Research Centre on Equines, Hisar, Haryana, India.
- In June 2022, the Australian Pesticides and Veterinary Medicines Authority (APVMA) has approved an emergency permit (PER92219) for a vaccine to protect pet rabbits against the rabbit hemorrhagic disease (calicivirus) virus type 2 strain (RHDV2).
APAC Veterinary Vaccine Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Burden of Diseases in Animals
4.2.2 Initiatives by Various Government Agencies, Animal Associations, and Leading Players
4.3 Market Restraints
4.3.1 High Storage Costs for Vaccines
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size - Value in USD million)
5.1 By Animal Vaccine Type
5.1.1 Livestock Vaccines
220.127.116.11 Bovine Vaccines
18.104.22.168 Poultry Vaccines
22.214.171.124 Porcine Vaccines
126.96.36.199 Other Livestock Vaccines
5.1.2 Companion Animal Vaccines
188.8.131.52 Canine Vaccines
184.108.40.206 Feline Vaccines
220.127.116.11 Equine Vaccines
5.2 By Technology
5.2.1 Live Attenuated Vaccines
5.2.2 Inactivated Vaccines
5.2.3 Toxoid Vaccines
5.2.4 Recombinant Vaccines
5.2.5 Other Technologies
5.3.4 South Korea
5.3.6 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Boehringer Ingelheim International GmbH
6.1.2 Ceva Sante Animale
6.1.4 Hester Biosciences Ltd
6.1.6 Merck & Co.
6.1.7 Phibro Animal Health Corp.
6.1.8 Virbac SA
6.1.9 Zoetis Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
APAC Veterinary Vaccine Market Research FAQs
What is the study period of this market?
The Asia-Pacific Veterinary Vaccine Market is studied from 2018 - 2028.
What is the growth rate of Asia-Pacific Veterinary Vaccine Market?
The Asia-Pacific Veterinary Vaccine Market is growing at a CAGR of 6.12% over the next 5 years.
Who are the key players in Asia-Pacific Veterinary Vaccine Market?
Boehringer Ingelheim International GmbH, Zoetis Inc., Merck & Co. Inc., Virbac SA, Elanco are the major companies operating in Asia-Pacific Veterinary Vaccine Market.
Asia-Pacific Veterinary Vaccine Industry Reports
In-depth industry statistics and market share insights of the Asia-Pacific Veterinary Vaccine sector for 2020, 2021, and 2022. The Asia-Pacific Veterinary Vaccine research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Asia-Pacific Veterinary Vaccine report PDF.