Mexico Veterinary Healthcare Market Trends

The vaccines segment is expected to witness significant growth in the companion animal healthcare market over the forecast period due to the rising prevalence of zoonotic diseases and the increasing product launches.

Vaccines include viruses, bacteria, or other disease-causing organisms that have been killed or altered to prevent any disease, thus, boosting immunity. New advanced vaccines have been manufactured containing genetically engineered components derived from those disease agents.

The increasing number of zoonotic disease cases in the country is the key factor driving the market's growth. For instance, in September 2022, the New Mexico DOH reported the first human patient diagnosed with West Nile virus infection in New Mexico. About 33 people were diagnosed with West Nile virus in New Mexico in 2021. Such new cases in the country are expected to increase the demand for and the adoption of animal healthcare to prevent the spread of zoonotic disease. This factor is anticipated to fuel the market's growth over the forecast period.

The rising government initiatives in spreading awareness regarding veterinary health and launching prevention programs in the country are also expected to fuel the market's growth over the forecast period. For instance, as per the WHO data published in January 2022, Mexico became the first country in the world to receive validation from the WHO for eliminating dog-transmitted rabies as a public health problem through a vaccination program conducted by the Mexican government.

The increasing product launches are also contributing to the market's growth. For instance, in April 2021, Vetanco partnerd launched Circo/MycoGard vaccine in Argentina and Latin America, including Mexico.

Therefore, such factors are expected to boost the growth of the segment in the market during the forecast period.