|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The veterinary vaccines market is expected to register a CAGR of about 9.1%, during the forecast period.
The market has been impacted majorly by the COVID-19 pandemic. There are a few known COVID-19 infections among pets, globally. According to the American Veterinary Medical Association (AVMA), one cat in Belgium tested positive and recovered after nine days. The AVMA conducted two large surveys of practice owners in April and July 2020 to better understand how COVID-19 has affected veterinary practices. In all, they collected over 3,500 responses representing different practice sizes, types, and species. For example, in April, 84% of practices asked clients to wait in vehicles during treatment which, in turn, has impacted the animal vaccines market, like all research and also breeding programs have been put on hold.
Supply disruption and medicine shortages of veterinary medicines have been observed in several countries, primarily due to the temporary lockdowns of manufacturing sites, export bans, and increased demand for medicine, for the treatment of COVID-19. Governments are taking measures to mitigate the supply of medicines. For instance, the impact of the pandemic on the human and veterinary pharmaceutical supply chains in the Europe is being closely monitored by the European medicines regulatory network. Although most drug shortages are generally handled at the national level, the EMA (European Medicines Agency) is acting as a central coordinator during the COVID-19 pandemic, assisting the Member States in preventing and minimizing supply disruptions.
Anthrax is one of the most common livestock diseases in the world. According to a report published by WHO (World Health Organization), although national programs have resulted in the containment of anthrax globally, it is still prevalent, primarily due to the lack of experience of the most recent generations of veterinarians in identifying and reporting the disease, and the discontinuation of vaccination against the disease.
Livestock diseases are contributing to a set of problems within livestock production systems. These problems include productivity losses, uncertain food security, and loss of income, among others, which are adversely affecting human health. Livestock disease management can reduce disease through the vaccination of animals. Foot-and-mouth disease (FMD) is highly contagious among cloven-hoofed animals, like cattle, swine, sheep, and goats, as well as many species of wild animals. Thus, increasing incidences of livestock diseases are the major factors driving the growth of the veterinary vaccines market, as these diseases can be eradicated with the periodic use of vaccines for animals.
Other factors, which are driving the veterinary vaccines market growth, are the rising incidence of zoonotic diseases and initiatives taken by government agencies, animal associations, and leading players.
Scope of the Report
Veterinary Vaccines are vaccines used for immunization of a domestic, livestock, or wild animal. The Veterinary Vaccines Market is segmented by Vaccine Type (Livestock Vaccines and Companion Animal Vaccines), Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Other Technologies), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments. The report offers the value (in USD million) for the above segments.
|By Vaccine Type|
|Live Attenuated Vaccines|
Key Market Trends
Canine Vaccines Segment is Expected to Show Better Growth in the Forecast Period
Veterinary vaccines are generally used to protect animals from infections like the bluetongue virus, foot-and-mouth disease (FMD), and rabies. Over the forecast period, however, the canine vaccine is expected to increase rapidly because of the increasing number of pet dogs in the world. Vaccination has long been a cornerstone of canine medicine, as it is one of the safest and most cost-effective ways to prevent infectious disease.
According to a survey published in American Veterinary Medical Association (AVMA) published in November 2021, both dog and cat populations have increased in recent years, as well as the percentages of households owning dogs or cats. There are approximately 83.7 million dogs 1.46 dogs per household the number of dogs values increased from 76.8 million in 2016. According to Pet Food Manufacturers Association 2021, 3.2 million households in the UK have acquired a pet since the start of the pandemic. There are now 34 million pets in the UK including 12 million cats and 12 million dogs, 3.2 million small mammals such as guinea pigs and hamsters, 3 million birds, and 1.5 million reptiles. Moreover, an estimate of 85 million European households owns at least one pet animal. The trend is further expected to enhance during the forecast period, owing to the factors, such as pet humanization, and the rapid adoption of pets in emerging economies. the rising adoption of pet dogs increases the vaccination programs of the companion animals boosting the canine vaccine segment growth.
The rapid proliferation of canine vaccines, advancement in diagnostic services and vaccine technology, and concerns over vaccine safety have contributed to the strong growth of the segment. Moreover, the market is being positively affected by evolving vaccine protocols with continuously changing patterns of diseases and the pet population.
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North America Dominates the Veterinary Vaccines Market
North America holds the largest market share. Veterinary vaccines in the United States are regulated by the Center for Veterinary Biologics (CVB) in the Animal and Plant Health Inspection Service (APHIS). The CVB grants establishment and product license to animal health companies, to manufacture and sell veterinary biologics.
In the United States, advancements in vaccine development include the development of live vector vaccines, non-replicating recombinant antigen vaccines, nucleic acid-mediated vaccines, and live-gene-deleted vaccines. For instance, in January 2020, Zoetis, a leading animal health company has further expanded its poultry vaccine portfolio with the introduction of Poulvac Procerta HVT-ND, a vectored recombinant vaccine for protection against Newcastle and Marek’s disease viruses.
Vaccination, in companion and wildlife animals for zoonotic diseases, had a great impact on reducing the incidence of zoonotic diseases. Furthermore, the rising awareness about the prevention of diseases and technological advancements are expected to propel the demand for veterinary vaccines in the region.
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The veterinary vaccines market is fairly competitive and consists of several major players. Most of these major players enjoy a global presence, and they are facing intense competition in emerging economies. The emerging countries are becoming hotspots for significant competition, due to a rapidly expanding market size, fueled by rising concerns over food safety and the increasing adoption of companion animals.
- In October 2020, Boehringer Ingelheim partnered with Henke-Sass, Wolf to develop an innovative intramuscular needle free vaccine injection tool for pigs around weaning until the end of their nursery.
- In September 2020, CEVA Sante Animale increased its production capacity for bacterial autogenous vaccines (primarily, for pigs and poultry) at its French plant.
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 Increasing Incidence of Livestock Diseases
4.2.2 Increasing Pet Adoption Globally
4.2.3 Initiatives by Government Agencies, Animal Associations, and Leading Players
4.3 Market Restraints
4.3.1 High Storage Costs for Vaccines
4.3.2 Shortage of Veterinarians and Skilled Farm Workers
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 by Value – USD million)
5.1 By Vaccine Type
5.1.1 Livestock Vaccines
188.8.131.52 Bovine Vaccines
184.108.40.206 Poultry Vaccines
220.127.116.11 Porcine Vaccines
18.104.22.168 Other Livestock Vaccines
5.1.2 Companion Animal Vaccines
22.214.171.124 Canine Vaccines
126.96.36.199 Feline Vaccines
188.8.131.52 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 By Geography
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Zoetis Inc.
6.1.2 Merck & Co. Inc.
6.1.4 Hester Biosciences Limited
6.1.5 Elanco Animal Health
6.1.6 Boehringer Ingelheim International GmbH
6.1.7 Ceva Sante Animale
6.1.8 Phibro Animal Health Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Veterinary Vaccines Market market is studied from 2019 - 2027.
What is the growth rate of Global Veterinary Vaccines Market?
The Global Veterinary Vaccines Market is growing at a CAGR of 9.1% over the next 5 years.
Which region has highest growth rate in Global Veterinary Vaccines Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Veterinary Vaccines Market?
North America holds highest share in 2021.
Who are the key players in Global Veterinary Vaccines Market?
Zoetis Inc., Merck & Co. Inc., Virbac, Boehringer Ingelheim International GmbH, Elanco Animal Health are the major companies operating in Global Veterinary Vaccines Market.