Publishing: August 2021 | Report Code: LS10004 | Available Format: PDF
Animal Vaccines Market Overview
The global animal vaccines market size is expected to grow substantially in the coming years. This is majorly ascribed to the rising adoption of companion animals across the world, due to which vaccination has become mandatory for these animals since they suffer from different diseases. In addition to this, the increasing focus on the development of needle-free deoxyribo nucleic acid (DNA) animal vaccines and growing research on plant-based animal vaccines are also resulting in the growth of the market.
The different animal types for which animal vaccines are required are porcine, companion, bovine, livestock, poultry, and aquaculture vaccines. Out of these, the companion animal vaccines category is projected to grow at the fastest pace in the near future in the animal vaccines market. This is because of the growing pet population and the increasing awareness among people regarding their health. Some of the vaccines that are available for canines include adenovirus, rabies, parvovirus, distemper, and parainfluenza.
The different technologies on which animal vaccines are based on are subunit/conjugate vaccines, live attenuated vaccines, DNA vaccines, toxoid vaccines, recombinant vaccines, and inactivated vaccines. Out of these, the live attenuated vaccines accounted for the largest animal vaccines market share in the past and are further predicted to dominate the market in the coming years. This is because these vaccines provide stronger immunity, in comparison to other vaccines, as they activate an extensive range of immune response. Apart from this, these vaccines can be administered orally, reduce the requirement for booster vaccines, and induce long-term and swift onset of immunity.
When geography is taken into consideration, North America held the largest share of the animal vaccines market in the past, which was attributed to the increased adoption of companion animals and surging consumption of meat and milk in the region. The fastest growth is expected to be registered by the Asia-Pacific region in the coming years, because of the rising livestock population and supportive government initiatives, particularly in developing countries. The regional market is further growing due to the increasing research & development expenditure by several key players and rising attempts for commercializing veterinary pharmaceuticals.
Animal Vaccines Market Dynamics
The animal vaccines market is growing due to the increasing livestock population, development and introduction of new vaccines, repeated outbreaks of livestock diseases, initiatives by different government agencies, key market players, and animal associations, and increasing incidence of zoonotic diseases. As per the European Food Safety Authority, over 300,000 people in Europe suffer from food borne zoonotic diseases each year. In order to reduce the incidence of zoonotic diseases, the expenditure on pets is growing rapidly.
In 2015, the U.S. pet industry expenditure was approximately $60 billion, which rose to $66.8 billion in 2016. Furthermore, the increasing awareness among people regarding several animal health issues and technological advancements are also driving the animal vaccines market growth. According to the American Pet Products Association, in 2017, the veterinary care expenditure in America reached up to $70 billion. In addition to this, the rising number of pet practitioners for meeting increasing veterinary healthcare issues is also expected to result in the growth of the industry.
The expanding healthcare infrastructure and increasing healthcare expenditure in developing countries is projected to create wide opportunities for people operating in the animal vaccines market. A number of organizations are also increasingly focusing on creating awareness regarding the importance of animal vaccines. For example, Animal Health Innovation Asia, a conference, was conducted in Hong Kong between 24th–25th October 2018. The major topics of discussions of the conference included insights on how emerging companies are utilizing new innovations for preventing diseases in animals, and guidance on veterinary market trends and animal health domain dynamics in China and Asia.
Animal Vaccines Market Competitive Landscape
The major players in the animal vaccines market are engaging in partnerships and developing new products in order to increase their market share. For example, in September 2018, an expanded indication was granted to Cytopoint, a novel monoclonal antibody therapy by Zoetis Inc., by the U.S. Department of Agriculture. The therapy is meant for treating allergic dermatitis in dogs.
Some other key players operating in the global animal vaccines market include Eli Lilly and Company, Merck & Co. Inc., Ceva Santé Animale S.A., C.H. Boehringer Sohn AG & Co. KG, Virbac Group, Vetoquinol S.A., Bayer AG, Hester Biosciences Limited, and Phibro Animal Health Corporation.
By Animal Type
Get a bespoke market intelligence solution
Our dedication to providing the most-accurate market information has earned us verification by Dun & Bradstreet (D&B). We strive for quality checking of the highest level to enable data-driven decision making for you
Our insights into the minutest levels of the markets, including the latest trends and competitive landscape, give you all the answers you need to take your business to new heights
With 24/7 research support, we ensure that the wheels of your business never stop turning. Don’t let time stand in your way. Get all your queries answered with a simple phone call or email, as and when required
We take a cautious approach to protecting your personal and confidential information. Trust is the strongest bond that connects us and our clients, and trust we build by complying with all international and domestic data protection and privacy laws