Animal Health Industry – A perspective look
Animal health industry consists of all products and services other than livestock feed and pet food that help in promoting livestock productivity, health and companion animal health. Under this industry, services and products such as vaccines, diagnostics, medical devices, pet supplies, nutritional supplements including veterinary animal vaccines and other services are included.
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Animal health is linked to human health as humans derive majority of their food supply in the form of milk, eggs and meat from healthy farm animals. In addition, scientific evidence prove that about 70% of the diseases known to affect humans are “zoonotic” that means these diseases are easily transmitted from animals to humans or vice versa. Therefore, over the last few decades there is a growing emphasis on carrying out extensive research and development for prevention or control of a given animal disease in the global veterinary vaccines market.
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How the global veterinary vaccines market is growing
The animals’ medicines and vaccines industry is estimated to be valued at around $30 billion. The global veterinary vaccine market was valued or worth around $27 billion in 2016 and is growing at a CAGR of 7.94% to reach $39.56 billion by the end of 2021.
Vaccination has now emerged as one of the most used medical products protecting animals and livestock from various diseases irrespective of the status of these animals whether they are domestic or wild animals. These vaccinations not only help in preventing diseases but also in minimizing the use of antimicrobials.
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The market dynamics of animal health vaccine market
An increased pet ownership, increased awareness of food security and increasing investment by various government and private sector agencies, growth in research activities in veterinary research institutions and universities is expected to drive the growth of the animal health vaccine market. In addition, the growing number of food borne diseases is also helping in the growth of veterinary animal vaccines market due to the growing health care awareness and an increased demand for protein rich foods in the developing economies. The major animal/veterinary market based on various production technologies is segmented as live accentuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, recombinant vaccines and DNA vaccines. The DNA and Accentuated Vaccines occupy the largest animal vaccine market share having accounted for the highest growth of the veterinary vaccines market size in 2016. This growth rate at CAGR of 7.5% from 2016 to 2021 can be attributed to the innovations in technology and increased public awareness about animal vaccination.
Segmentation of veterinary vaccines global market – A tabulated view
The veterinary vaccines global market is usually segregated under the veterinary vaccines market report based on the animal type, diseases, products, technologies and regions. Each of these are further sub-divided as shown in the below mentioned tabulated format
|Cattle/Livestock||Feline||Vaccines||North America||In-activated Vaccines|
|Swine||Poultry||Feed Additives||Europe||Live attenuated Vaccines|
|Sheep||Equine||Latin America||Toxoid Vaccines|
|Dogs||Livestock||The Middle East and Africa||Recombinant Vaccines|
|Poultry||Other Animal Diseases||Subunit Vaccines|
The European region accounts for the largest part of animal vaccine market share followed by North America especially the U.S. veterinary vaccine market. The North America animal health care market was valued at $11.3 billion in 2015 out of which U.S. accounted for nearly $9.2 billion with the veterinary vaccines market report to increase at 4.5% of CAGR through 2020 to reach around $14.1 billion.
Companies/Distribution Channels operating in animal vaccines market-
Various companies in the animal vaccines market are launching new and innovative product launches through various strategies to market their products. The major players or companies that are operating in the global veterinary vaccines market include Zoetis Inc. (Pfizer) – United States, Merck Animal Healthcare (U.S.), G.E. Healthcare, Bayer Healthcare, Ceva Animal Health, Heska Corporation, Virbac Ltd, Eli Lilly and Company etc.
The distribution channels that are playing an important role towards the growth of veterinary animal vaccines market include veterinary clinics, veterinary hospitals, veterinary research institutions, retail pharmacies out of which the veterinary clinic distribution channel is expected to witness significant growth in the coming decades. Region wise, the global veterinary vaccines market in Asia-Pacific region expected to show noticeable growth due to strong demand from China and India.