Market Overview:
Global Veterinary Vaccines Market size was valued at USD 8.00 billion in 2022 and is poised to grow from USD 8.50 billion in 2023 to USD 13.75 billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031). The escalating prevalence of zoonotic diseases is expected to drive the demand for animal vaccines as they pose a threat to both animal and human health, compromising food security. The population growth of both humans and animals, coupled with environmental degradation and globalized trade and travel, increase the transmission of pathogens among species.
The need for animal protein has resulted in amplified commercial food animal production, leading to the emergence of zoonotic diseases in both livestock and companion animals, posing a significant risk to public health. The control of emerging diseases requires the use of animal vaccines, which are vital in mitigating the impact of these diseases. As such, animal vaccines will continue to play a critical role in controlling emerging diseases in the coming years.
Market Insights:
Veterinary Vaccines Market Drivers
Growing demand for livestock products is fueling the market growth:
- Growing demand for livestock products such as meat, dairy, and eggs is one of the major drivers fueling the growth of the global veterinary vaccines market. As the global population continues to grow, so does the demand for animal-based protein, which is driving the demand for livestock and, in turn, for veterinary vaccines. The rising demand for meat, in particular, is a major factor driving the growth of the veterinary vaccines market.
- Meat consumption is increasing worldwide, particularly in developing countries such as China, India, and Brazil. As per the report published by the Food and Agriculture Organization (FAO) of the United Nations, meat production is projected to increase by 13% between 2019 and 2030. However, livestock farming is also associated with a range of animal diseases that can affect animal health, productivity, and profitability.
- Vaccination is a key tool in preventing and controlling these diseases, and as the demand for livestock products increases, so does the demand for veterinary vaccines. In addition to meat, the demand for dairy and other animal-based products is also increasing, particularly in developing countries. As per the report by the Organization for Economic Cooperation and Development (OECD), global dairy consumption is expected to increase by 36% by 2030. This growth in demand is driving the need for more livestock, which in turn is driving the demand for veterinary vaccines.
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Key Market Segments:
Disease
Livestock Diseases (Bovine Diseases and Small Ruminant Diseases), Poultry Diseases, Porcine Diseases, Companion Animal Disease (Canine Diseases and Feline Diseases), Aquaculture Diseases, Other
Technology
Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines and Other
Type
Livestock vaccines (Bovine Vaccines and Small Ruminant Vaccines), Poultry vaccines, Companion Animal vaccines (Canine Vaccines and Feline Vaccines), Porcine vaccines, Aquaculture vaccines, Other
Route of Administration
Injectable Vaccines, Oral Vaccines, Intranasal/Spray Vaccines
Distribution Channel
Veterinary Hospitals, Veterinary Clinics, and Retail Pharmacies.
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Analysis by Diseases
In the veterinary vaccines market, livestock diseases are currently dominating. This dominance is primarily driven by the substantial economic impact that livestock diseases have on the agricultural industry. It is very important to look after the health of livestock as they provide meat, milk, wool and other products, maintaining economic stability. High occurrence of diseases like bovine viral diarrhea, foot and mouth disease and many more, requires extensive vaccine programs. These programs help in preventing further outbreak of these diseases while maintaining productivity and profitability in livestock farming. With the growing demand for animal-based products globally, the focus on livestock health has been of prime importance, which further drives the market.
The aquaculture diseases are the fastest growing segment in veterinary vaccines market. The booming aquaculture industry driven by increasing fish and seafood demands as a sustainable protein source has also driven the need to focus on aquaculture diseases. Also, the high density of fish in aquaculture systems makes them particularly susceptible to infectious diseases. These diseases can easily spread rapidly and can cause major economic losses. Therefore, this vulnerability has spurred the development and adoption of effective vaccines to protect against diseases such as bacterial infections, parasitic infestations, and viral outbreaks, leading to the rapid growth of the aquaculture vaccines market.
Regional Insights:
The North American region dominated the global veterinary vaccines market in 2022, accounting for over 25% of the market revenue. The region is expected to maintain its dominance during the forecast period due to the high prevalence of zoonotic and livestock diseases resulting in significant animal deaths. The presence of well-established pharmaceutical companies in the region, with a focus on expanding their commercialization and geographical reach, is expected to drive market growth. Additionally, the rising incidence of canine disorders and the growing pet population in the United States are also contributing to the expansion of the regional market.
On the other hand, the Asia-Pacific region is expected to register the highest growth rate during the forecast period. This is primarily due to the anticipated increase in livestock population and government initiatives in developing economies. For instance, India has a large cattle population of 192.5 million in 2019, which calls for a high demand for vaccines. Moreover, the market is being driven by high R&D expenditure by major players, combined with efforts to commercialize veterinary vaccines at affordable prices.
Prominent Players 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)
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Additional Insights:
Market Penetration: Analysis of the product portfolio of different market players and the status of new product launches.
Product Development/Innovation: Assessment of R&D activities, new product development, and emerging trends.
Market Development: Analysis of regions with high growth potential.
Market Diversification: Assessment of new products, recent developments, and emerging regional markets.
Competitive Landscape: Growth strategies, revenue analysis, and product innovations by market players.
Key Questions Answered in Veterinary Vaccines Market Report:
What is the global market size of the Veterinary Vaccines Market?
Who are the key vendors in the Veterinary Vaccines Market?
What is the key driver of the Veterinary Vaccines Market?
What is the key market trend for the Veterinary Vaccines Market?
Which region accounted for the largest share in the Veterinary Vaccines Market?
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