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 this market can primarily be attributed to the growth in the companion animal population, rising incidence of zoonotic diseases. On the other hand, the high storage cost of vaccines are expected to restrain the growth of this market to a certain extent.
The prominent players in the veterinary vaccines market include Zoetis, Inc. (US), Merck & Co, Inc. (US), Boehringer Ingelheim International GmbH (Germany), Elanco Animal Health (US), Virbac (France). Players in the global veterinary vaccines market have employed various strategies to expand their global footprints and increase their market shares. The key strategies adopted by the major veterinary vaccine market players include product launches and approvals, acquisitions, partnerships, agreements, collaborations, and expansions.
Zoetis develops and manufactures animal health medicines and vaccines, along with diagnostic products, genetic tests, biodevices, and a range of services designed to meet the needs of veterinarians, livestock farmers, and companion animal owners. Zoetis discovers, develops, manufactures, and commercializes a wide portfolio of vaccines and medicines for livestock and companion animals. The company’s major product categories include Anti-infectives, Vaccines, Parasiticides, Dermatology, Medicated Feed Additives, Other Pharmaceuticals, Animal Health Diagnostics, Other Non-pharmaceuticals, and Contract Manufacturing & Human Health. Zoetis operates in North America, Europe, the Middle East & Africa, Latin America, and the Asia Pacific.
Merck & Co., Inc.
Merck & Co., Inc. is a global healthcare company that delivers innovative solutions for animal healthcare. The company operates through two segments: Pharmaceutical and Animal Health. The Animal Health segment discovers, develops, manufactures, and markets a wide range of veterinary pharmaceutical & vaccine products for livestock and companion animal species. The company operates in over 50 countries across North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America.
Boehringer Ingelheim International GmbH
Boehringer Ingelheim International GmbH is engaged in the research, development, production, and sales of various pharmaceutical products. The company operates through four basic segments—Human Pharma, Animal Health, Biopharmaceutical Contract Manufacturing, and Discontinued Operations. The company’s Animal Health business includes a wide range of biological, pharmaceutical, and natural care products for food-producing and companion animals. The company has 151 subsidiaries worldwide.
Elanco Animal Health
Elanco Animal Health is an animal healthcare company engaged in developing, manufacturing, and marketing products for companion and food-producing animals. Elanco operates through two business segments, namely, Pet Health and Farm Animal. Elanco caters to multiple veterinary products across core species consisting of dogs and cats, and cattle, poultry, swine, sheep, and aquaculture. The company operates in 90 countries with 12 manufacturing facilities (majorly located in Europe and the US).
Virbac is an independent pharmaceutical laboratory dedicated to animal health. The company operates through three segments—Companion Animals, Food Processing Animals, and Other Businesses. Through its Companion Animals segment, the company offers vaccines for cats and dogs. The company’s Food Processing Animals segment caters to livestock vaccines. The company has a presence in more than 100 countries and has 33 commercial subsidiaries. The company has a strong geographical presence across Europe, Latin America, North America, the Asia Pacific, Africa, and the Middle East.
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Veterinary Vaccines Market by Type (Porcine, Poultry, Livestock, Companion Animals), Technology (Live Attenuated, Inactivated, Toxoid), Route of Administration (Injection, Intranasal), Distribution Channel (Hospitals, Clinics) - Global Forecast to 2027
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