Animal Vaccines Market Overview
Vaccines have proven to be a boon for animal health in veterinary medicine. With increase in the number of adoption cases of companion animals globally, vaccination has become important for these animals as they suffer from various diseases. Strong focus on the development of needle-free DNA animal vaccines and ongoing research on plant-based animal vaccines have added to the growth of the market.
Other than this, growth in livestock population and repeated outbreaks of life-stock diseases; rising incidence of zootonic diseases; introduction of new vaccines; and government initiatives by various agencies, animal associations, and major market players are also boosting the growth of the global animal vaccines market.
On the basis of animal type, the animal vaccines market has been categorized into bovine, porcine, poultry, livestock, companion, and aquaculture vaccines. It is expected that during the forecast period, the market for companion animal vaccines category is expected to witness fastest growth, owing to increasing adoption and ownership of pets, globally. Rabies, distemper, parvovirus, parainfluenza, and adenovirus are some of the vaccines available for canines.
Based on technology, the animal vaccines market has been bifurcated into live attenuated, toxoid, inactivated, DNA, recombinant, and subunit/conjugate vaccines. As live attenuated vaccines have a rare chance of reverting to a pathogenic form, these vaccines held the largest share in the market in the historical period and are expected to continue with the trend in the forecast period. DNA vaccines is the fastest growing category in this market, owing to thermo-stability, cost effectiveness, easy production, and rapid vaccine development against emerging diseases in animals.
Geographically, North America is expected to lead the global animal vaccines market in the coming years, owing to the stringent regulations for vaccines production, increasing awareness against the use of antimicrobials, and rising number of innovations in developing vaccines for animals in the region.
However, during the forecast period, the market in Asia-Pacific (APAC) is expected to witness the highest growth in demand for these products. This is attributed to minimal wages, rising healthcare infrastructure, and availability of skilled professionals in the region. These factors attract various market players to invest in the APAC countries. In addition, increasing awareness about animal health in China, Japan, and India is also expected to boost the market growth in the region.
Animal Vaccines Market Dynamics
Various factors, including, rising technological innovations and introduction of innovative vaccines; such as DNA, and recombinant vaccines; improved healthcare facilities; and growing investment by government bodies are positively impacting the growth of this market. Recombinant vaccines represent an innovative option to overcome the limitations of conventional vaccines, since these can be produced efficiently in large amounts and usually present low reactogenicity and toxicity.
An alternative host to E. coli is the methylotrophic yeast, Pichia pastoris. This yeast strain has emerged as a powerful and inexpensive expression system for the heterologous production of recombinant proteins that facilitate genetic modifications, allow the secretion of expressed proteins, permit posttranslational modifications, and produce a high yield. Owing to these benefits of recombinant vaccines, many researches are being conducted globally, in the animal vaccines market.
However, patent expiry of various major vaccines and increasing maintenance costs for vaccines are the key factors restraining the market growth. Stringent regulations and legislations, and shift in consumer preference for vegetarian foods also obstructs the growth of the animal vaccines market.
Emerging economies offer immense opportunities to the market players in terms of rapidly growing healthcare infrastructure and increasing expenditure, due to which the manufacturers in the animal vaccines industry can easily invest in these economies and generate higher revenue.
Moreover, to enhance these opportunities, a number of organizations have been taking part in creating awareness about the importance of animal vaccines and its impact on animal health. For instance, a conference “Animal Health Innovation Asia” will be conducted in Hong Kong between 24th-25th October 2018. The key areas of this conference will include providing guidance on veterinary market trends and animal health industry dynamics in China and the Asia, insights on how emerging companies are using new innovations to prevent diseases in animals, and market analysis on the merger and acquisition activity across the animal health and nutrition markets in Asia.
Animal Vaccines Market Competitive Landscape
Ongoing partnerships and product approvals in the industry are expected to increase the market share of the players in the coming years. For instance, in September 2018, U.S. Department of Agriculture (USDA) granted an expanded indication to Cytopoint, a novel monoclonal antibody (mAb) therapy by Zoetis Inc., for the treatment of allergic dermatitis in dogs. Cytopoint is the first mAb therapy licensed to treat allergic as well as atopic dermatitis, an indication for which it was fully licensed by the USDA in 2016.
Moreover, PHARMAQ, a business of Zoetis Inc., signed a partnership agreement with Vin Hoan Corporation, during a VIETFISH exhibition, in August 2018, to involve large scale vaccination of pangasius with ALPHA JECT Panga 2, a PHARMAQ vaccine that protects against disease caused by the bacteria Edwardsiella ictaluri and Aeromonas hydrophila. Under the terms of the agreement, PHARMAQ has also agreed to provide Vinh Hoan Corporation with fish health services, diagnostic testing, and the introduction of new technologies and R&D activities.
Other than Zoetis Inc, the animal vaccines industry is marked by the presence of market players, such as Merck & Co. Inc., C.H. Boehringer Sohn AG & Ko. KG, Eli Lilly and Company, Ceva Santé Animale S.A., Virbac Group, Bayer AG, Vetoquinol S.A., Phibro Animal Health Corporation, and Hester Biosciences Limited.
The study provides historical as well the forecast market size data for various countries including the U.K., Germany, France, Italy, Spain, the U.S., Canada, Japan, China, India, Singapore, Brazil, Mexico, and Saudi Arabia.