|Study Period:||2018 - 2026|
|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, one cat in Belgium tested positive and recovered after nine days. Numerous animal husbandry companies have been affected due to the outbreak, especially in many of the major outbreak zones, including China, the United States, Italy, Spain, France, Germany, and other European countries, which, in turn, has impacted the animal vaccines market, as 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 European Medicines Agency issued guidance for companies responsible for veterinary medicines, with respect to the adaptations to the regulatory framework, primarily to address the challenges faced during this pandemic situation.
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 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 market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
|By Vaccine Type|
|Live Attenuated Vaccines|
Key Market Trends
Companion Animal Vaccines Segment is Expected to Show Better Growth in the Forecast Period
Veterinary vaccines are used primarily for livestock, as they suffer from various diseases, such as bluetongue virus, foot-and-mouth disease (FMD), and rabies. However, the companion vaccine is expected to witness high growth, over the forecast period. Vaccination has long been a principal point of canine practice, as it is one of the safest and most cost-effective means of infectious disease prevention.
According to the annual report of the European Pet Food Industry Association (FEDIAF) for 2020, dogs and cats are the major pets adopted in Europe. 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 pets increases the vaccination programs of the companion animals boosting the segment growth.
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 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, in order 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 vaccine 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
5.1 By Vaccine Type
5.1.1 Livestock Vaccines
184.108.40.206 Bovine Vaccines
220.127.116.11 Poultry Vaccines
18.104.22.168 Porcine Vaccines
22.214.171.124 Other Livestock Vaccines
5.1.2 Companion Animal Vaccines
126.96.36.199 Canine Vaccines
188.8.131.52 Feline Vaccines
184.108.40.206 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
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.3.5 South America
18.104.22.168 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 2018 - 2026.
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.
What is Global Veterinary Vaccines Market size in 2018?
The Global Veterinary Vaccines Market is valued at 7053 Million USD in 2018.
What is Global Veterinary Vaccines Market size in 2026?
The Global Veterinary Vaccines Market is valued at 11510 Million USD in 2026.
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 2020.
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.