Share on

Global Animal / Veterinary Vaccines Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Production Technologies and Region (North America, Europe, APAC, Latin America, Middle East and Africa) - Industry Forecast (2022 to 2027)

Published: January, 2022
ID: 58
Pages: 177
Formats: report pdf report excel report power bi report ppt

Animal / Veterinary Vaccines Market Size (2022 to 2027)

As per our report, the global veterinary vaccines market size is poised to grow to USD 8.92 Billion by 2027 from USD 6.83 Billion in 2022. This market is predicted to showcase a CAGR of 5.5% from 2022 to 2027. The veterinary vaccines market has seen significant growth over the past few years due to fear of imminent epidemics that have led to substantial losses, particularly in the poultry segment.

Some of the key insights from the report:

  • Based on type, the Livestock vaccine segment dominated and covered 72.2% of the market share in 2021.
  • Based on the Production Technologies, the live attenuated vaccine production technology segment has showcased the fastest CARG during the forecast period.
  • The North American veterinary vaccines market led the global market in 2021 and is expected to be worth USD 2.95 billion by 2027
  • The European Animal / Veterinary Vaccines Market is the second largest market and is expected to be worth USD 2.58 Billion by 2027.

Veterinary vaccines are given regularly for both pet and poultry animals to prevent diseases. These vaccines are manufactured following different types of bacteria affecting varied animals. In traditional days, these vaccines are considered the most cost-effective procedure for treating infectious diseases in animals. Therefore, veterinary vaccines are an essential thing in protecting animal health.

From traditional days, veterinary vaccines are effective procedures for preventing various animal diseases. It also helps in preventing the transmission of diseases from animals to humans. Veterinary vaccines improve the health of animals cost-effectively. These vaccines aim to increase the production rate of poultry products by improving livestock health.

MARKET DRIVERS:

The growing prevalence of livestock and zoonotic diseases and the advancements in animal vaccines are majorly driving the veterinary vaccines market.

Veterinary vaccine manufacturers pay attention to reducing the risk of various animal diseases and demanding proper vaccination is further estimated to accelerate the market's growth rate during the forecast period. In addition, improving quality and effectiveness in the production of poultry products, increasing care for pet animals, and the rising consumption rate of meat and poultry products such as eggs and others are also propelling the animal vaccines market growth.

According to a Food and Agriculture Organization study, more animal diseases can be easily transmissible to humans. Therefore, pharmaceutical companies have to be focused on manufacturing various vaccines accordingly, which is estimated to expand the growth of the veterinary vaccines market.

Furthermore, factors such as increasing disposable income in urban areas and focusing on manufacturing novel vaccines to meet animal needs in the medical sector bolstered market growth. In addition, the growing prevalence of DNA vaccines and recombinant vaccines is also essential in providing growth scope to the global veterinary vaccines market.

MARKET RESTRAINTS:

However, rising maintenance costs for the storage of vaccines and increasing the adoption of a vegetarian diet in major economies owing to the increased risk of obesity and other chronic diseases are necessary restraints that are expected to restrict the growth of the global veterinary vaccines market.

The fluctuations in the prices of the end products are slowly hampering the growth of this market. Furthermore, the lack of skilled persons in manufacturing and stringent rules and regulations by the government to approve new vaccines limit the market's demand. In addition, the rise in the complications of specific vaccines in real-time due to a lack of knowledge over the dosage level has remained a challenging factor for the market growth.

Impact of COVID-19 on the global animal / veterinary vaccines market:

The COVID-19 was announced as a pandemic and the emergence of healthcare on March 11, 2020. Before introducing the pandemic, the market had experienced the most considerable growth. But due to the lockdown restrictions in the first half of 2020, the market had experienced a declining growth rate. In addition, all the veterinary hospitals' activities were postponed during this period to control the spread of the novel coronavirus disease. Thus, the market experienced a down in the initial period of the pandemic. However, the unlock guidelines by governments across the world have positively impacted the market's growth rate. As a result, the postponed veterinary treatments have been resumed; during this pandemic, the companion animal population increased rapidly, and the rising demand for animal-derived animal products propelled the market growth. As a result, the market is expected to have a better share than it was earlier in the coming years.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Segments Covered

By Type, Production Technologies, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

 

This research report on the global veterinary vaccines market has been segmented based on the type, production technologies, and region.

Veterinary Vaccines Market - By Type:

  • Livestock Vaccines
    • Bovine
    • Porcine
    • Ovine
    • Poultry
    • Equine  
  • Companion Vaccines
    • Feline Vaccines
    • Canine Vaccines

Based on the type, the Livestock vaccine segment is estimated to dominate the global veterinary vaccines market during the forecast period. Increasing the livestock population is majorly attributing the growth to this segment. In addition, growing concern towards animal healthcare and the rise in the demand to prevent the spread of diseases from animals to humans is helping this segment shine. Among different types of livestock vaccines, the porcine segment has the highest share of the market. Increasing incidences of zoonotic diseases are ascribed to outshine the demand of the main addition, In addition, the rise in the campaigns to spread awareness in rural areas over the benefits of vaccines is gearing up the market's need.

The canine vaccines segment accounted for a slightly larger share (in terms of revenue) than the feline vaccines segment due to the higher average cost allied with canine vaccination.

Veterinary Vaccines Market - By Production Technologies:

  • Live Attenuated Vaccines
  • Inactivated Vaccines
  • Recombinant Vaccines
  • Toxoid Vaccines
  • Subunit Vaccines
  • DNA Vaccines
  • Conjugate Vaccines

Based on production technologies, live attenuated vaccine production technology has had the highest growth rate in the past few years. It is to continue the same growth in the coming years. The introduction of various products with advanced technologies and increasing awareness towards manufacturing effective vaccines inappropriate with the diseases is spurring the market's growth rate. In addition, the rise in investments in veterinary hospitals by both private and public organizations is further gearing up the segment's demand.

Veterinary Vaccines Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

During the forecast period, the North American region is leading the global veterinary vaccine market in consumption, followed by Europe. Together, these two regions account for more than 70% of the global veterinary vaccine market revenue. In Europe, increasing incidences of zoonotic diseases and demand to prevent and cure these diseases with certain medications are expanding the growth rate of the veterinary vaccines market. In addition, stringent rules and regulations to promote effective treatment procedures in hospitals are leveraging the market's growth in this region.

Europe is expected to grow at a healthy CAGR due to the quick adoption of the latest technologies and the launch of various quality products at a low cost. Besides, increasing per capita income in developed and developing countries is likely to outshine the market's growth to an extent.

Asia Pacific is positioned next to North America in leading dominant market shares with the increased priority to improve the quality of poultry products, escalating the growth of the market. Also, a rise in awareness programs through campaigns and digital advertisements elevates the market's demand.

The Middle East and Africa are having a slow growth rate in recent years, and it is expected to have a slight inclination in the growth rate in the coming years.

KEY MARKET PARTICIPANTS:

Notable companies in the global animal / veterinary vaccines market profiled in the report are Bayer HealthCare AGSanofi Animal Health, Inc.Heska Corporation, Indian Immunologicals Ltd., Biogenesis Bago SA, Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Health, Inc., Merck & Co. Inc. and Protein Sciences.

RECENT MARKET DEVELOPMENTS:

  • In 2019, Zoetis Company acquired ZNLabs, and Phoenix Lab, to enhance its diagnostics and laboratory services for veterinarian professionals and customers in the United States.
  • In 2019, Boehringer Ingelheim Company recently developed a swine vaccine called angel vac PRRS MLV in its manufacturing plant in China. The company officially started supplying the vaccines to china's market in Jan 2019.
  • In 2017, Merck Animal Health acquired Valee S.A.; this deal is likely to expand the distribution network of Merck animal health products in Brazil.
  • In 2017, Elanco Animal Health Company expanded its vaccine product portfolio by acquiring Boehringer Ingelheim Vetmedica's U.S. Feline, Canine, and Rabies Vaccines Portfolio.

Please wait. . . . Your request is being processed

FAQ's

What was the size of the veterinary vaccines market worldwide in 2021?

The global veterinary vaccines market size was valued at USD 6.47 billion in 2021. 

Which region is growing the fastest in the global veterinary vaccines market?

Geographically, the North American veterinary vaccines market accounted for the largest share of the global market in 2021. 

At What CAGR, the global veterinary vaccines market is expected to grow from 2022 to 2027?

The global veterinary vaccines market is estimated to grow at a CAGR of 5.50 % from 2022 to 2027. 

Who are the leading players in the veterinary vaccines market?

Indian Immunologicals Ltd., Biogenesis Bago SA, Boehringer Ingelheim GmbH, Zoetis, Novartis Animal Health, Inc., Merck & Co. Inc., and Protein Sciences are some of the leading players in veterinary vaccines market

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: sales@marketdataforecast.com

Click for Request Sample