USD 10.85 billion
Veterinary Vaccines Market Size, Share, Growth Analysis, By Product Type(Inactivated Vaccines, Live Attenuated Vaccines, Toxoid Vaccines, Recombinant Vaccines and Others), By Animal Type(Livestock, Companion Animals), By Technology(In-Vitro, In-Vivo), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35I2239 |
Region:
Global |
Published Date: August, 2024
Pages:
219
|Tables:
237
|Figures:
78
Veterinary Vaccines Market Insights
Global Veterinary Vaccine Market size was valued at around USD 8.00 billion in 2022 and is Poised to grow from USD 8.50 billion in 2023 and is expected to reach a value of USD 13.75 billion by 2031, at a CAGR of 6.2% over the forecast period (2024–2031).
The global veterinary vaccines market is growing exponentially, driven by increasing awareness of animal health and increasing demand for animal-derived products such as meat, milk and eggs. Animal diseases at the increasing incidence of animal-to-human transmission can further emphasize the importance of prevention decision-making and sustainability of food security.
Additionally, the expansion of the livestock population, coupled with the intensifying focus on food safety and sustainability, has propelled the market forward. These innovations offer increased efficacy and safety profiles, making them increasingly popular with veterinarians and pet owners. The market also benefits from increased investments by key players aimed at developing emerging and existing vaccines in R&D. Furthermore, government initiatives to prevent and eradicate animal diseases, particularly in developing countries, are providing a significant impetus to market expansion. Increasing incidence of animal diseases and ever-increasing livestock populations are the main reasons for the adoption of ruminants, especially poultry, worldwide.
Market snapshot - 2024–2031
Global Market Size
Largest Segment
Veterinary Clinics
Fastest Growth
Veterinary Clinics
Growth Rate
6% CAGR
Country Share for North America Region(%)
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Veterinary Vaccines Market Segmental Analysis
Global veterinary vaccines market is segmented based on product type, animal type, technology, and region. By product type, the market is segmented into inactivated vaccines, live attenuated vaccines, toxoid vaccines, recombinant vaccines, and others. By animal type, the market is segmented into livestock and companion animals. By technology, the market is segmented into in-vitro and in-vivo. In-vivo technology is further segmented into the DNA vaccines, subunit vaccines, and conjugate vaccines. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Animal Type
The livestock segment dominated the global veterinary vaccines market with the highest revenue share in 2023. This can be attributed to factors such as increasing livestock population, supportive government policies, outbreaks of diseases in the cattle and sheep. Anti-coli vaccines include Avigard and Nobilis E. coli manufactured by Merck & Co., Inc.; includes Coli. According to Zoetis, the prevalence rate of E. Coli in various cattle categories (feedlot cattle, cattle on irrigated pasture, cattle at slaughter, and cattle grazing rangeland forages) ranges between 0.2% to 27.8%.
The companion segment is expected to grow the fastest over the forecast period. Canine distemper virus is transmitted to pets as well as ferrets, requiring strong vaccination prevention because there is no treatment to prevent the infection. Morbillivirus infects dogs, cats, raccoons, wolves and causes paralysis, through the air and other methods of contact with infected and healthy animals. Vaccination of dogs is important due to the fact canine distemper damages the respiratory tract, urogenital tract, and gastrointestinal tract. Newborn puppies and dogs are liable to gastrointestinal infection. Vanguard, DHPPi/L Vaccine, DHP, and Megavac 6 and 7 are a few of the dog distemper vaccines available on the market.
Analysis by Product Type
The live attenuated vaccines segment dominated the veterinary vaccines market and accounted for more than 35.0% of revenue in 2022. It is the oldest vaccination method used in the biomedical field and the method has been tested for new applications. These strategies include the development of protein subunit vaccines for mice, administered intravenously. These factors contribute to reducing the lifespan and improving survival of affected mice.
The recombinant vaccines segment is one of the fastest growing segments during the forecast period. These vaccines help reduce the risk of post-vaccination animal infections. Recombinant vaccines are also expected to contribute to the development of a wider range of antivirals because recombinant vaccines can carry multiple genes. These vaccines can avoid the need for adjuvants, increase vaccine efficacy, and stabilize them. Recombinant drugs available for veterinary use include drugs for canine rabies, pseudopox, Newcastle disease, Lyme disease and avian influenza.
Veterinary vaccines Market By Distribution Channel (%)
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Veterinary Vaccines Market Regional Insights
North America region dominated the global veterinary vaccines market in 2023 and is predicted to keep its dominance for the duration of the forecast duration. This growth is due to the increasing adoption of animals and the developing awareness on animal health and welfare inside the region. The United States is the largest market in North America. The demand for veterinary vaccines within the United States is driven by means of the increasing occurrence of zoonotic sicknesses, the developing demand for animal protein, and the rising quantity of pet owners. In addition, the rising incidence of canine disorders, which is increasing the adoption of vaccination for the same, and the rising pet population in the U.S. are some of the key factors contributing to the expansion of the regional market.
The Asia-Pacific region within the market is expected to witness the highest growth in the market. With disposable income increasing across the region, people are more aware of preventative animal health programs. Fellow livestock owners from India, China, Japan and the rest of Asia-Pacific are interested in regular and up-to-date vaccination. Additionally, programs are being offered with governments in the region set to simplify regulatory approvals for veterinary vaccines to meet its growing demand. This will drive market growth across the region.
Veterinary vaccines Market By Geography
- Largest
- Fastest
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Veterinary Vaccines Market Dynamics
Drivers
Increasing prevalence of zoonotic diseases
- Zoonotic diseases are infectious illnesses that may be transmitted from animals to human beings. The emergence and spread of the zoonotic diseases, together with rabies, avian influenza, and swine flu, have increased the demand for veterinary vaccines. Vaccinating animals towards these illnesses can help prevent their transmission to people, reduce the danger of disease outbreaks, and sell public fitness. Global population increase, changing nutritional possibilities, especially in growing countries, have improved the consumption of animal protein. This trend has also brought about constructing call for animals' extra emphasis and has brought about an enormous increase inside the veterinary vaccines market.
Government Initiatives and Support
- Governments around the arena are recognizing the significance of preventing and eradicating animal sicknesses to shield public fitness and make certain food protection. Consequently, numerous government rules and packages have been carried out to promote the use of veterinary vaccines. These programs include assistance with vaccine procurement, vaccination campaigns, and the establishment of disease surveillance programs. Such support from governments plays an important role in the uptake of veterinary vaccines, especially in areas where disease is highly prevalent.
Restraints
High Cost of Vaccine Development and Production
- Developing and generating a new vaccine is a complex and time-consuming method that involves good sized research and development, medical trials, and regulatory approvals. The cost of vaccine development and manufacturing can be large, which could make vaccines unaffordable for some farmers and puppy proprietors, particularly in low-resource settings. Moreover, the value of storing and transporting vaccines under the specified conditions can in addition growth the general value of vaccination. This excessive fee can limit the adoption of veterinary vaccines and prevent the boom of the veterinary vaccines marketplace, mainly in growing regional regions.
Stricter Regulations
- The veterinary vaccines market is heavily regulated, with stringent necessities for the approval and commercialization of new vaccines. These regulations are designed to make sure vaccine safety and the efficacy but may also slow time to marketplace for brand spanking new merchandise and growth standard improvement charges. Furthermore, changes in regulatory framework in different countries can challenge the companies seeking to enter different markets and can limit their growth opportunities.
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Veterinary Vaccines Market Competitive Landscape
The global veterinary vaccines market is highly competitive, with several key players operating in the market. Some of the major players in the market are Zoetis Inc., Elanco Animal Health Incorporated, Merck & Co., Inc., Boehringer Ingelheim GmbH and Virbac. These players are focused on developing the new and superior vaccines to cater to the evolving wishes of the marketplace. For example, Zoetis Inc. is one of the main players within the veterinary vaccines marketplace, supplying an extensive variety of vaccines for associate animals and farm animals. The enterprise has a sturdy geographic presence and a diverse product portfolio, which gives it an aggressive aspect inside the market. Zoetis Inc. Invests closely in studies and improvement to develop new vaccines and extend its product services.
Top Player’s Company Profiles in Veterinary Vaccines Market
- Zoetis, Inc. (US)
- Merck & Co, Inc. (US)
- Boehringer Ingelheim International GmbH (Germany)
- Elanco Animal Health (US)
- Virbac (France)
- Ceva Sante Animale (France)
- Phibro Animal Health Corporation (US)
- Hester Biosciences Limited (India)
- Neogen Corporation (US)
- HIPRA (Spain)
- Biogénesis Bagó (Argentina)
- Tianjin Ringpu Bio-Technology Co Ltd. (China)
- China Animal Husbandry Group (China)
- Jinyu Bio-technology (China)
- Vaxxinova International BV (Netherlands)
- Endovac Animal Health (US)
- Brilliant Bio Pharma (India)
- Aptimmune (US)
- Indian Immunologicals Ltd. (India)
- Torigen Pharmaceuticals, Inc. (US)
- VEROVACCiNES GmbH (Germany)
- Intas Pharmaceuticals (India)
- Ourofino Animal Health (Brazil)
- Biovac (Israel)
- Laboratoire LCV (France)
Veterinary Vaccines Market Recent Developments
- January 2024: Boehringer Ingelheim officially launched Vacciliv Cocci 3, a chicken coccidiosis vaccine formerly known as Hatchpack Cocci III. The vaccine is used to prevent coccidiosis in birds.
- September 2022: Zoetis acquired animal health company Jurox, which provides veterinary medicines for animals and companion animals in Australia.
- April 2022: Seva launched Sevak iBeard to protect poultry farms from infectious bronchitis (IB) in India.
Veterinary Vaccines Key Market Trends
Rising Use of Recombinant Vaccines
- One of the most important trends in the veterinary vaccines market is the increasing use of recombinant vaccines. These vaccines evolved the use of superior biotechnological strategies that permit unique concentrated on of precise pathogens, enhance efficacy and protection. Vaccines a rehybrids also gain from breeds which can be much less possibly to misbehave, growing their popularity among veterinarians and pet proprietors.
Growing Trend on Shelter Animals
- The growing trend of owning pets, specifically in urban regions, has extended the demand for shelter animals time viewing pets as more own family participants, leading to extended costs of veterinary care such as vaccinations. This trend is specifically robust in developed areas along with North America and Europe, in which pet owners are much more likely to spend money on preventive healthcare for their animals. The focus on companion animal vaccination is expected to continue driving the veterinary vaccines market in the coming years.
Veterinary Vaccines Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the SkyQuest Analysis, the market for veterinary vaccines is expected to grow significantly in the coming years, driven by factors such as increasing demand for vaccines, increasing awareness of animal health, technological advancements in vaccines and causes. Veterinary vaccines market is poised for tremendous growth, driven by factors such as increasing demand for animal protein, government policies to combat animal diseases, advancements in vaccine technology but it also faces challenges such as the high cost of the vaccines and the need for stricter regulations. Key trends such as use of recombinant vaccines and increased focus on animal vaccination are expected to shape the market in future. While animal health awareness increases and technological innovations in the veterinary vaccines market is likely to expand steadily in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.00 billion |
| Market size value in 2031 | USD 13.75 billion |
| Growth Rate | 6.2% |
| Base year | 2023 |
| Forecast period | 2024–2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Veterinary Vaccines Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Veterinary Vaccines Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Veterinary Vaccines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Veterinary Vaccines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Veterinary Vaccines Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Veterinary Vaccines Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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