Veterinary Vaccines Market

Veterinary Vaccines Market Size & Growth (2019 - 2024)

The Global Veterinary Vaccines Market is poised to reach USD 8.46 Billion by 2024 from USD 6.47 Billion in 2019, at a CAGR of 5.5% from 2019 to 2024. 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.

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

Veterinary Vaccine market has shown significant growth in recent years which can be attributed to increasing husbandry practices and better management of farms. This marks the estimation of further growth in the market due to the advancement in biotechnological research. The global veterinary vaccines market has undergone considerable progress during the past few years with the growing usage of continuous cell lines as a substrate and embracing of the fermentor technology for antigen production. These vaccines are produced for administration by parenteral or oral routes depending on the vaccine characteristics.

However, rising maintenance costs for the storage of vaccines, increasing adoption of a vegetarian diet in major economies owing to the increased risk of obesity and other chronic diseases are key restraints of this market.

Growing prevalence of animal diseases, rising incidences of zoonotic diseases in humans; increasing investments by leading players, various government agencies, and animal associations; continuous innovations, increasing awareness against the use of antimicrobials is driving the vaccine producers to invest significantly into the development of new products.

Recent Developments in this industry:

• Zoetis Company has completed the acquisition of ZNLabs, and Phoenix Lab in 2019, to enhance its diagnostics and laboratory services for veterinarian professionals and customers in the U.S.
• Boehringer Ingelheim Company has recently developed a swine vaccine called ingel vac PRRS MLV in its manufacturing plant located in China and the company has started supplying the vaccines to china market officially from Jan 2019.
• Valee S.A has been acquired by Merck Animal Health in 2017; this deal is likely to expand the distribution network of Merck animal health products in Brazil.
• Elanco Animal Health Company has expanded its vaccine product portfolio by completing the Acquisition of Boehringer Ingelheim Company in January 2017.

REPORT COVERAGE:

This research report on the Global Veterinary Vaccines Market segmented and sub-segmented into the following categories and analyzed market size and forecast for each segment until 2024.

Veterinary Vaccines Market - By Type:

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

On the basis of the type, the Livestock vaccine type is holding with the highest shares of the market. Increasing the livestock population is a primary factor for the growth of this segment. Growing concern towards animal healthcare is also greatly influencing the demand of the market. The rise in the demand to prevent the spread of diseases from animals to humans is leveling up the growth rate of the market.

Among companion vaccines, the canine vaccines segment accounted for a slightly larger share (in terms of revenue) than the feline vaccines segment, due to 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

On the basis of production technologies, Live attenuated vaccines production technology is having the highest growth rate from the past few years and is to continue the same growth in the coming years. The introduction of various products with advanced technologies is likely to bolster the demand of the market. Increasing awareness towards manufacturing effective vaccines inappropriate with the diseases is spurring the growth rate of the market. Rise in the investments on veterinary hospitals by both private and public organizations is gearing up the demand of the market.

Regional Analysis

The European region is leading the veterinary vaccine market in terms of consumption, followed by the U.S. These two regions together 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 of these diseases with certain medications is expanding the growth rate of the veterinary vaccines market. Stringent rules and regulations so as to promote effective treatment procedures in the hospitals are leveraging the growth of the market in this region.

North America is holding dominant shares of the market by owing to the quick adoption of the latest technologies and the launch of various quality products at a low cost. In addition, increasing capital income in developed and developing countries is likely to outshine the growth of the market to the extent. Asia pacific is positioned next to North America in leading dominant shares of the market with the increased priority to improve the quality of poultry products is escalating the growth of the market. Also, a rise in the awareness programs through campaigns and digital advertisements are elevating the demand of the market. The Middle East and Africa are having a slow growth rate from recent years and it is expected to have a slight inclination in the growth rate in the coming years.

Companies leading the Global Veterinary Vaccines Market profiled in the report are

1. Bayer HealthCare AG
2. Sanofi Animal Health, Inc.
3. Biogenesis Bago SA
4. Heska Corporation
5. Indian Immunologicals Ltd.
6. Boehringer Ingelheim GmbH
7. Zoetis
8. Novartis Animal Health, Inc.
9. Merck & Co. Inc.
10. Protein Sciences