Veterinary Vaccines Market

The global veterinary vaccines market is projected to reach USD 10.8 billion by 2027 from USD 8.1 billion in 2022, at a CAGR of 5.9% during the forecast period. Growth in veterinary vaccinations will be fostered by increasing pet ownership and raised awareness among the pet owners toward animal health and preventative care. Developments in the field of immunology and biotechnology further the creation of more efficient and focused vaccines, hence increasing their uptake. Vaccinations in the livestock sector allow animals to be healthy and productive, a feature that has a direct impact on the world's food supply chain. In line with the need to foster animal health, it has brought a major contribution to livestock, which has been supporting governments' initiatives and animal health programs, coupled with rules for food safety and animal welfare. It is expected that the veterinary vaccines market will finally have growth and innovation, with growing veterinary healthcare infrastructure and increasing investment in research and development by key players.

Veterinary Vaccines Market Size, Dynamics & Ecosystem

To know about the assumptions considered for the study, Request for Free Sample Report

Global Veterinary Vaccines Market Dynamics

Driver: Rising demand for animal-derived food products

The global demand for animal-derived food products, including beef, veal, buffalo meat, mutton, lamb and goat meat, pork, poultry meat, milk and dairy products, and eggs, is increasing. Livestock products account for 17% of kilocalorie consumption and 33% of protein consumption globally; however, this figure varies across developed and developing countries. The overall livestock sector is expected to witness significant growth due to the high consumption of animal-derived food products. An FAO (Food and Agriculture Organization of the United Nations) survey on mapping the supply and demand for animal-sourced food estimates that Asian countries will register the highest growth in the demand for livestock products such as beef, milk, mutton, pork, and poultry products (chicken and eggs). According to the Guardian and Bureau of Investigative Journalism, the number of industrial-sized pig and poultry units in the UK has risen by 7% from 1,669 in 2017 to 1,786 in 2020.

Restraint: High storage cost of veterinary vaccines

Effective storage is a key issue faced by manufacturers across the supply chain for veterinary vaccines. Vaccines are mainly stored at low temperatures using deep freezing, and this low temperature should be maintained during storage and transportation until the vaccine is administered to animals. A small error in the storage of vaccines can cost thousands of dollars in vaccine wastage and revaccination programs.

Cold storage-related spending on vaccines amounts to about 80% of their total cost. For effective storage, vaccine manufacturers and distributors widely use various vaccine storage equipment and monitoring devices such as refrigerators, thermometers, and cold chain monitors. A typical single vaccine storage refrigerator costs between USD 2,000–50,000, depending on the size of the unit and the number of vaccines being stored. To maintain the recommended temperature, vaccine storage equipment needs to be selected carefully, maintained regularly (including professionally serviced), and monitored consistently. Consequently, this process generates significant costs for vaccine manufacturers.

Opportunity: Technology Advancements

Veterinary vaccine technology has evolved significantly over the past decade. This is mainly due to the constant emergence of new diseases or the re-emergence of mutated diseases. Conventional live and inactivated vaccines are sometimes exposed to risks of mutation and have a short shelf life. Similarly, the challenge of strain/region specificity makes conventional vaccines ineffective. To combat these limitations, technologically advanced recombinant and DNA vaccines are being introduced in the market.

The introduction of new vaccines is expected to offer lucrative growth opportunities to animal vaccine manufacturers. These vaccines induce a wider range of immune responses; are easy to produce, store, and transport; can be rapidly developed to combat emerging diseases; and are highly stable as opposed to other vaccine types. DNA vaccines are capable of inducing potent cellular and humoral immune responses and display higher stability at a wider range of temperatures, which also reduces the cost incurred in maintaining the recommended temperature. After successful preclinical tests for H1N1 influenza, players such as VGX Animal Health are now increasing their focus on developing DNA vaccines.

Challenge: Inadequate surveillance and reporting systems

In many cases, despite initiatives to promote the use of vaccines, the overall vaccine coverage is found to be low. This is mainly due to the lack of awareness about vaccination and inadequate surveillance and reporting systems. Even when vaccines are available, a lack of data can complicate decisions about areas where vaccines are needed.

Surveillance and reporting systems are still inadequate for many diseases and in many countries, which is resulting in the late diagnosis and reporting of disease outbreaks. This issue is primarily related to funding, as farmers are often reluctant to pay for diagnostic tests or surveillance and reporting. Investments and funding for improving surveillance and reporting systems are expected to ultimately transfer the benefits to human health by reducing the overall prevalence of zoonotic diseases. However, until such investments are made available, the presence of inadequate surveillance and reporting systems is expected to continue to hinder the large-scale use of vaccines.

Prominent companies in this market include well-established, financially stable manufacturers of veterinary vaccines. These companies have been operating in the market for several years and possess a diversified product portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in this market include Zoetis, Inc.(US), Merck & Co, Inc. (US), Boehringer Ingelheim International GmbH (Germany), Elanco Animal Health (US), Virbac (France).

Veterinary Vaccines Market Segmentation & Geographical Spread

To know about the assumptions considered for the study, download the pdf brochure

The companion animal vaccines segment of veterinary vaccines industry is expected to register the highest CAGR during the forecast period

Based on type, the global veterinary vaccines market is segmented into porcine vaccines, poultry vaccines, livestock vaccines, companion animal vaccines, aquaculture vaccines, and other animal vaccines. In 2021, the companion animal vaccines segment is expected to register the highest CAGR during the forecast period. Increasing awareness about vaccination, the rising prevalence of zoonotic diseases in humans, and the growing number of pets and pet owners are fueling the demand for these vaccines.

The bovine vaccines segment of veterinary vaccines industry is estimated to grow at a higher CAGR during the forecast period

Based on diseases, the global veterinary vaccines market is segmented into bovine and small ruminants animals diseases. The bovine vaccines segment is estimated to grow at a higher CAGR during the forecast period. Growth in this segment can be attributed to the increasing demand for meat & milk, growth in the dairy industry, and increasing awareness about the prevention of diseases in livestock.

Injectable vaccines segment of veterinary vaccines industry is expected to grow at the highest CAGR during the forecast period

Based on the route of administration, the global veterinary vaccines market is segmented into injectable vaccines, oral vaccines, and intranasal/spray vaccines. In 2021, injectable vaccines segment is expected to grow at the highest CAGR during the forecast period. This route of administration is preferred over the oral route, as some vaccines are destroyed by the digestive system when swallowed. Subcutaneous injections are administered into fatty tissues, below the skin and above the muscle. These injections are useful, safe, and convenient, especially for delivering small amounts of delicate medication

APAC is estimated to be the fastest-growing region for veterinary vaccines industry

The global veterinary vaccines market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2021, APAC is estimated to be the fastest-growing regional market for veterinary vaccines. The high growth in this market can majorly be attributed to the rising companion animal population and the expansion of key players in the market in several Asia Pacific countries such as India, China, and Thailand. Livestock farming is a major source of income in various countries in the Asia Pacific. This is a major reason for the large livestock population in this region. The demand for animal-based products such as meat and milk is increasing in emerging Asia Pacific markets; owing to this, revenues from livestock products are also increasing. In this scenario, ensuring the health of animals and maintaining their productivity gains added importance, which has increased the adoption of veterinary vaccines in this region.

The global Veterinary Vaccines market is dominated by a few globally established players such as Zoetis, Inc.(US), Merck & Co, Inc. (US), Boehringer Ingelheim International GmbH (Germany), Elanco Animal Health (US), Virbac (France). Major players adopt growth strategies to expand their geographical presence and garner higher shares in the global market, such as product launches and approvals, expansions, collaborations, and acquisitions.

Scope of the Veterinary Vaccines Industry:

The study categorizes the global veterinary vaccines market to forecast revenue and analyze trends in each of the following submarkets:

By Type

• Porcine Vaccines
• Poultry Vaccines
• Livestock Vaccines
  • Bovine Vaccines
  • Small Ruminant Vaccines
• Companion Animal Vaccines
  • Canine Vaccines
  • Feline Vaccines
• Aquaculture Vaccines
• Other Animal Vaccines

By Disease

• Porcine Diseases
• Poultry Diseases
• Livestock Diseases
  • Bovine Diseases
  • Small Ruminant Diseases
• Companion Animal Diseases
  • Canine Diseases
  • Feline Diseases
• Aquaculture Diseases

By Technology

• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Recombinant Vaccines
• Other Vaccines

By Route of Administration

• Injection Vaccines
• Oral Vaccines
• Intranasal/Spray Vaccines

By Distribution Channel

• Veterinary Hospitals
• Veterinary Clinics
• Retail Pharmacies

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Thailand
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

Recent Developments of Veterinary Vaccines Industry

• In September 2022, Zoetis acquired Jurox, a privately held animal health company that develops, manufactures, and markets a wide range of veterinary medicines for treating livestock and companion animals.
• In June 2022, Boehringer Ingelheim and CarthroniX partnered to pursue small molecule therapeutics in canine oncology.
• In July 2021, Elanco acquired KindredBio, a biopharmaceutical company focused on developing novel pet therapeutics.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst