Europe Veterinary Vaccine Market Size

Europe Veterinary Vaccine Market Analysis

The European veterinary vaccine market is expected to witness a CAGR of 5.57% over the forecast period.

The emergence of COVID-19 had an impact on the Europe veterinary vaccine market during the initial pandemic days due to the strict lockdown restrictions imposed by the government to curb the spread of COVID-19, which led to a decline in the demand for veterinary vaccines in Europe. However, the market is recovering since the lockdown restrictions were lifted in the European region, and as the cases of COVID-19 are on the decline and the demand for veterinary vaccines in Europe is increasing, thus fueling the growth of the market over the forecast period.

The key factors propelling the growth of this market are increasing incidences of livestock diseases, initiatives by various government agencies and animal associations, and key market players' strategies in the European region. For instance, according to an NCBI article published in November 2021, the incidence of Cryptosporidium, which affects cows, was 25.7% in Belgium, 24.9% in France, and 20.8% in the Netherlands. The report also mentioned that, overall, 93% of the farms in Western Europe were Cryptosporidium positive. Such a high incidence of livestock diseases is expected to be one of the crucial driving factors for the growth of the market over the forecast period.

In addition, per the Government of United Kingdom data in May 2022, nearly 1,832 African swine fever cases were recorded in Europe among domestic pigs. Such a burden of infectious diseases among animals across the European region is expected to increase the demand for veterinary vaccines, thereby contributing to the growth of the market during the forecast period. Also, the increasing product developments by the market players in Europe are expected to contribute to the market's growth during the forecast period. For instance, In September 2021, Boehringer Ingelheim received a positive opinion from the European Union for the combined use of Ingelvac CircoFLEX and Ingelvac PRRSFLEX EU for pig health management. The combined administration of both vaccines represents innovation in pig health management.

Likewise, the large size of the livestock and cattle population in the European region is also expected to contribute to the growing demand for veterinary vaccines, thereby fueling market growth. For instance, in the data published by Eurostat in May 2022, the European Union had approximately 289 million livestock animals in December 2021. Thus, the factors mentioned above, such as the growing prevalence of zoonotic diseases, the large size of the veterinary population, and increasing product launches, are expected to drive the growth of the studied segment during the forecast period. However, high storage costs for vaccines and lack of veterinarians, and a shortage of skilled farmers are expected to restrain the growth of the market over the forecast period.