Market Trends of Asia-Pacific Veterinary Vaccine Industry
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 a Significant Market Share Over the Forecast Period
The live attenuated vaccines segment is believed to have significant growth over the forecast period. Live vaccines contain a weakened version of the living germ, making them ineffective in causing diseases. The live attenuated vaccines produce a similar yet weakened response compared to that of natural infections. However, whenever there is exposure to potent viral agents, the vaccine generates an immune response and helps in protection against the pathogen.
Most of the vaccines licensed for oral or intranasal administration are attenuated. These vaccines are stored and handled properly, with stringent attention to temperature, even in the lyophilized (free-dried) state. Some examples of these types of vaccines include canine distemper virus vaccines and all canine parvovirus and adenovirus-2 vaccines.
The rising prevalence of infectious diseases among animals is driving the market growth. For instance, 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 livestock. The data further stated that the need for the development of this vaccine has risen due to the large livestock population in the country acting as a part of the growing economy of Australia.
Moreover, according to an article published by Microbiology Spectrum in November 2022, a study was conducted in China which showed that 88.29% (98/111) of clinical samples were CPV-2 (a variant of canine parvovirus) positive, which indicated that the disease was widespread among the dog population in Henan province of China from 2020 to 2021. This is expected to boost the usage of live attenuated vaccines for the disease.
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 animal health products and services in the country, thereby fuelling market growth.
According to the January 2022 report of Pethadoop, a platform specializing in China's animal health sector, cats made up 59.5% 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, the total sale for cat and dog consumption, including medical treatment services in 2021 was approximately USD 38.4 billion USD, the average expenditure on the dog was about USD 406, while for a cat it was USD 280 in 2021. This expenditure is likely to increase with the increasing adoption of pets in the country, thereby boosting the market growth.
