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Veterinary Vaccines Market - Growth, Trends, and Forecast (2019 - 2024)

The Veterinary Vaccines Market is segmented by Vaccine Type, Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Other Technologies), and Geography.

Market Snapshot

Veterinary Vaccine Market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

Key Players:

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Market Overview

The veterinary vaccines market was valued at USD 7,226 million in 2018 and is expected to register a CAGR of about 5.78%, during the forecast period, 2019-2024. The veterinary vaccines market is expected to be driven by technological innovations in vaccines, increasing awareness regarding animal health, increasing investments by government bodies and associations, increased demand for animal protein, including milk, meat, eggs, and fish, and increased expenditure on healthcare for companion animals.

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.

From January to April 2015, disease reports from countries in North and West Africa, the Middle East, and East, South, and Southeast Asia mainly included foot-and-mouth disease (FMD) and H5N1 highly pathogenic avian influenza (HPAI) outbreaks, which are the two major transboundary animal diseases of economic concern, globally. This period was also characterized by the continued global spread of various avian influenza (AI) subtypes, regional spread of H5N1 HPAI in West Africa, and continued regional spread of lumpy skin disease (LSD) in the Middle East. Continuations of the ongoing regional epidemics of Ebola in West Africa and the Middle East respiratory syndrome coronavirus (MERS-CoV) in the Middle East were observed. Thus, increasing incidence of livestock diseases is the major factor 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 rising incidence of zoonotic diseases and initiatives taken by government agencies, animal associations, and leading players.

Scope of the Report

The veterinary vaccines market has been segmented based on vaccine type, technology, and geography. By vaccine type, the market is divided into livestock vaccines and companion animal vaccines. By technology, the market is divided into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and other technologies.

By Vaccine Type
Livestock Vaccines
Bovine Vaccines
Poultry Vaccines
Porcine Vaccines
Other Livestock Vaccines
Companion Animal Vaccines
Canine Vaccines
Feline Vaccines
Equine Vaccines
By Technology
Live Attenuated Vaccines
Inactivated Vaccines
Toxoid Vaccines
Recombinant Vaccines
Other Technologies
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Canine Vaccines Sub-segment holds the Largest Market Share in the Companion Vaccine Segment

Veterinary vaccines are used primarily for livestock, as they suffer from various diseases, such as bluetongue virus, foot-and-mouth disease (FMD), and rabies, among others. However, canine vaccine, which is a sub-segment of the companion animal vaccines segment, dominated the market in terms of revenue. Vaccination has long been a principal point of canine practice since it is one of the safest and most cost-effective means of infectious disease prevention. The rapid proliferation of companion animal vaccines, advancement in diagnostic services and vaccine technology, and concerns over vaccine safety have contributed to the strong growth of the canine vaccine segment. Moreover, the market is being positively affected by evolving vaccine protocols with continuous changing patterns of diseases and pet population.

Veterinary Vaccine Market

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North America Dominates the Market by Value and Asia-Pacific is expected to grow with the Highest Growth Rate

North America held the largest share of USD 3,191.72 million in 2018 and is expected to reach USD 4,491.75 million by 2024, at an estimated CAGR of 5.86%, over the forecast period. However, due to the increasing adoption of veterinary vaccines for quality food products and better animal health, Asia-Pacific is projected to experience rapid growth, while recording a CAGR of 6.10% during the forecast period.

Veterinary Vaccine Market

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Competitive Landscape

The veterinary vaccines market is fairly competitive and consists of several major players. Most of these major players enjoy a global presence, and 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.

Major Players

  1. Zoetis Inc.
  2. Merck & Co.
  3. Elanco
  4. Boehringer Ingelheim GmbH
  5. Virbac SA

* Complete list of players covered available in the table of contents below

Veterinary Vaccine Market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Incidence of Livestock Diseases

      2. 4.2.2 Increasing Incidence of Zoonotic Diseases

      3. 4.2.3 Initiatives by Government Agencies, Animal Associations, and Leading Players

    3. 4.3 Market Restraints

      1. 4.3.1 High Storage Costs for Vaccines

      2. 4.3.2 Shortage of Veterinarians and Skilled Farm Workers

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Vaccine Type

      1. 5.1.1 Livestock Vaccines

        1. 5.1.1.1 Bovine Vaccines

        2. 5.1.1.2 Poultry Vaccines

        3. 5.1.1.3 Porcine Vaccines

        4. 5.1.1.4 Other Livestock Vaccines

      2. 5.1.2 Companion Animal Vaccines

        1. 5.1.2.1 Canine Vaccines

        2. 5.1.2.2 Feline Vaccines

        3. 5.1.2.3 Equine Vaccines

    2. 5.2 By Technology

      1. 5.2.1 Live Attenuated Vaccines

      2. 5.2.2 Inactivated Vaccines

      3. 5.2.3 Toxoid Vaccines

      4. 5.2.4 Recombinant Vaccines

      5. 5.2.5 Other Technologies

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East & Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East & Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Zoetis Animal Healthcare

      2. 6.1.2 Merck & Co.

      3. 6.1.3 Virbac SA

      4. 6.1.4 Hester Biosciences Ltd

      5. 6.1.5 Elanco

      6. 6.1.6 Boehringer Ingelheim Animal Health GmbH

      7. 6.1.7 Ceva Sante Animale

      8. 6.1.8 Phibro Animal Health Corp.

      9. 6.1.9 HIPRA

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments

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