As per our report, the global veterinary/animal vaccines market is poised to grow USD 8.46 Billion by 2025 from USD 6.47 Billion in 2020. This market is predicted to showcase a CAGR of 5.5% from 2020 to 2025. 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.
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 as the most cost-effective procedure for treating infectious diseases in animals. Veterinary vaccines are an essential thing in protecting animal health.
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 cost-effectively. These vaccines aim to increase the production rate of poultry products by improving the health of the livestock.
MARKET DRIVERS
Growing prevalence of livestock and zoonotic diseases and the advancements in animal vaccines are majorly driving the veterinary vaccines market.
Veterinary vaccines manufacturers pay attention to reduce the risk of various diseases in animals, which demands proper vaccination and driving growth for the market. 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 egg and others are further accelerating the demand for the animal vaccines market.
According to a Food and Agriculture organization study, more animal diseases can be easily transmissible to the humans where pharmaceutical companies have to be focused on the manufacturing of various vaccines accordingly, which is estimated to expand the growth of the veterinary vaccines market.
Furthermore, factors like increasing disposable income in urban areas, focus on manufacturing novel vaccines to meet the requirement of animal needs in the medical sector are bolstering market growth. Growing prevalence for the DNA vaccines and recombinants vaccines are also playing an essential role in providing growth scope to the global veterinary vaccines market.
MARKET RESTRAINTS
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 necessary restraints 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. Lack of skilled persons in manufacturing and stringent rules and regulations by the government for the approval of new vaccines is limiting the demand of the market. Rise in the complications of specific vaccines in real-time due to lack of knowledge over the dosage level is remained a challenging factor for the market growth.
REPORT COVERAGE
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Type, Production Technologies and Region |
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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 |
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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
Based on the type, the Livestock vaccine segment is leading the market with the highest shares. Increasing the livestock population is majorly attributing the growth to this segment. Growing concern towards animal healthcare, rise in the demand to prevent the spread of diseases from animals to humans is other factors helping this segment to shine. Among different types of livestock vaccines, the porcine segment is witnessed in having the highest shares of the market. Increasing incidences of zoonotic diseases are ascribed to outshine the demand of the market. Rise in the campaigns to spread awareness in rural areas over the benefits of vaccines is gearing up the need 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
Based on 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, 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 further gearing up the demand of the segment.
Veterinary Vaccines Market - By Region
The North American region is leading the veterinary vaccine market in terms of consumption, followed by Europe. 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 to promote effective treatment procedures in the hospitals are leveraging the growth of the market 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 capita 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.
TOP COMPANIES IN THE MARKET
Notable companies in the global veterinary/animal vaccines market profiled in the report are Bayer HealthCare AG, Sanofi 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
Acquisition – In 2019
Zoetis Company has completed the acquisition of ZNLabs, and Phoenix Lab, to enhance its diagnostics and laboratory services for veterinarian professionals and customers in the United States.
Product Launch – In 2019
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's market officially from Jan 2019.
Acquisition – In 2017
Merck Animal Health acquired Valee S.A in 2017; this deal is likely to expand the distribution network of Merck animal health products in Brazil.
Acquisition – In 2017
Elanco Animal Health Company has expanded its vaccine product portfolio by completing the acquisition of Boehringer Ingelheim Vetmedica’s U.S. Feline, Canine, and Rabies Vaccines Portfolio.
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