Published Year: 2018
Global Vaccine Market - Analysis and Forecast, 2018-2028: Focus on Product Type (Next-Generation Vac
The global vaccine market is anticipated to reach $103.57 billion by 2028, witnessing a CAGR...
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Global Veterinary Vaccine Market Overview
In 2022, the global veterinary vaccine market held a value of $9.44 billion. The market is expected to grow at a CAGR of 7.30% during the forecast period 2023-2033 and attain a value of $19.86 billion by 2033. The market's trajectory suggests a transformative impact on veterinary healthcare, with companies adept at addressing regulatory complexities and embracing technological innovations poised for significant success.
Market Lifecycle Stage
The global veterinary vaccine market is in a growing mature phase. Characterized by a significant increase in demand and adoption, this stage reflects the rising recognition and acceptance of veterinary vaccines. Key drivers include the growing population of animals and awareness of vaccines, government initiatives for promoting veterinary health, and increasing emphasis on disease prevention. Due to challenges such as regulatory complexities and high cost of research and development (R&D) of veterinary vaccines, the overall trajectory suggests a dynamic and expanding market.
Industry Impact
The veterinary vaccine market holds significant importance in the animal health industry, with profound impacts on both animal welfare and public health. The availability and widespread use of effective vaccines contribute to the prevention and control of various infectious diseases in animals, ranging from pets to livestock. This not only safeguards the health and well-being of individual animals but also plays a crucial role in maintaining the overall health of animal populations. Furthermore, by preventing the transmission of zoonotic diseases from animals to humans, veterinary vaccines contribute to public health and reduce the risk of disease outbreaks.
The industry's advancements in vaccine research and development continually address emerging infectious threats, promoting sustainability in agriculture, ensuring food safety, and fostering a harmonious coexistence between humans and animals. As a result, the veterinary vaccine market's impact extends beyond animal health, making it an integral component of global health strategies and broader ecosystem.
Market Segmentation:
Segmentation 1: by Type
• Livestock Vaccines
o Bovine Vaccines
o Small Ruminant Vaccines
• Porcine Vaccines
• Poultry Vaccines
• Companion Animal Vaccines
o Canine Vaccines
o Feline Vaccines
o Equine Vaccines
• Aquaculture Vaccines
Livestock Vaccines to Dominate the Global Veterinary Vaccine Market (by Type)
The livestock vaccines segment dominated the global veterinary vaccine market (by type) in FY2022. The dominance of livestock vaccines in the global veterinary vaccine market, categorized by type, underscores the critical role these vaccines play in safeguarding the health and productivity of livestock populations. Livestock vaccines are instrumental in preventing and controlling a variety of infectious diseases that can have profound economic implications for the agriculture sector. As livestock farming continues to be a significant component of the global food supply chain, the demand for vaccines tailored to the specific needs of cattle, poultry, swine, and other livestock remains high.
Segmentation 2: by Disease
• African Swine Fever
• Foot and Mouth Disease
• Newcastle Disease
• Avian Influenza (Bird Flu)
• Peste des Petits Ruminants
• Other Diseases
Avian Influenza (Bird Flu) to Dominate the Global Veterinary Vaccine Market (by Disease)
Avian influenza (bird flu) dominated the global veterinary vaccine market (by disease) in FY2022. Avian influenza is a highly contagious viral infection that primarily affects birds, including poultry. Given the potential for rapid transmission and severe economic consequences in the poultry industry, there is a heightened focus on developing and administering effective vaccines to prevent and control avian influenza outbreaks.
Segmentation 3: by Technology
• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Recombinant Vaccines
• Conjugate Vaccines
• Other Vaccines
Inactivated Vaccines to Dominate the Global Veterinary Vaccine Market (by Technology)
The global veterinary vaccine market (by technology) was dominated by the inactivated vaccines segment in FY2022. Inactivated vaccines, also known as killed vaccines, are produced from pathogens that have been rendered non-infectious, typically through processes such as heat or chemicals. This technology offers a safe and effective means of stimulating an immune response in animals without the risk of causing disease. The prevalence of inactivated vaccines in the veterinary market underscores their established track record in providing protection against various diseases in animals.
Segmentation 4: by Route of Administration
• Injectable Vaccines
• Oral Vaccines
• Intranasal/Spray Vaccines
Injectable Vaccines to Dominate the Global Veterinary Vaccine Market (by Route of Administration)
The global veterinary vaccine market (by route of administration) was dominated by the injectable vaccines segment in FY2022. Injectable vaccines are administered through injection, providing a direct and efficient means of delivering antigens to stimulate an immune response in animals. This route of administration is commonly used across various species, including livestock and companion animals. The dominance of injectable vaccines underscores their practicality, ease of administration, and established effectiveness in promoting immunity against a range of diseases.
Segmentation 5: by Distribution Channel
• Veterinary Hospitals and Clinics
• Retail Pharmacies
• Veterinary Research Institutes
Veterinary Hospitals and Clinics to Continue its Dominance in the Global Veterinary Vaccine Market (by Distribution Channel)
The veterinary hospitals and clinics segment accounted for the largest share of the global veterinary vaccine market (by distribution channel) in FY2022. Veterinary hospitals and clinics serve as primary points of contact for animal owners seeking preventive healthcare for their pets and livestock. These establishments not only provide vaccination services but also offer expertise and guidance on the appropriate immunization schedules and tailored healthcare plans for individual animals. The dominance of this distribution channel reflects the trust placed in professional veterinary care and the integral role veterinarians play in promoting animal health.
Segmentation 6: by Region
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
Among regions, North America held the largest market value in 2022, and the trend is anticipated to continue during the forecast period 2023-2033.
Demand – Drivers, Restraints, and Opportunities
Market Drivers:
Growing Population of Animals and Awareness of Vaccine: The global veterinary vaccine market is experiencing a notable upswing, primarily propelled by the escalating population of animals and the rising incidence of veterinary diseases. As the demand for effective healthcare solutions for animals intensifies, the veterinary vaccine market has become a crucial component in safeguarding the health and well-being of diverse animal species.
Market Restraints:
High Cost of Research and Development (R&D) of Veterinary Vaccine: The high cost of researching and developing veterinary vaccines can be a major obstacle to their development and accessibility, posing challenges for both animal health and veterinary industry. The intricate nature of developing vaccines tailored for diverse animal species, coupled with rigorous regulatory requirements, contributes to elevated expenses, thereby affecting the accessibility and affordability of veterinary vaccines.
Market Opportunities:
Technological Advancements in Veterinary Vaccine: Technological advancements in veterinary vaccine development present significant opportunities for the veterinary vaccine market. Innovations such as genetic engineering, adjuvant technologies, and novel delivery methods enhance vaccine efficacy, safety, and convenience.
Analyst View
According to Akash Mhaskar, Principal Analyst at BIS Research, “The global veterinary vaccine market is experiencing growth driven by a confluence of factors. One of the primary drivers is the increasing emphasis on veterinary health and zoonotic disease compliance. Moreover, the market is driven by a growing animal population, initiatives from the government, and adoption of vaccines in the market. Furthermore, an increase in companion animal health care is acting as an opportunity for the market.”
Veterinary Vaccine Market - A Global and Regional Analysis
Focus on Type, Disease, Technology, Route of Administration, Distribution Channel, and Region - Analysis and Forecast, 2023-2033
Some Faq's
Frequently Asked Questions
Veterinary vaccines, commonly referred to as veterinary vaccines, are biological preparations designed to stimulate the immune system of animals, providing protection against specific infectious diseases. Similar to vaccines for humans, veterinary vaccines play a crucial role in preventing and controlling the spread of diseases among various animal species, including pets, livestock, and wildlife. These vaccines typically contain antigens derived from pathogens, such as viruses or bacteria, in a modified or inactivated form.
The veterinary vaccine market has witnessed several trends, and here are some key trends observed in this market:
• Advancements in Vaccine Technology: Ongoing advancements in vaccine technologies, including the development of novel adjuvants, recombinant technologies, and vector vaccines, were enhancing the efficacy and safety of veterinary vaccines.
• Focus on Preventive Healthcare: Increasing awareness among pet owners and livestock producers about the importance of preventive healthcare was driving the demand for vaccines. This shift toward preventive measures aimed to reduce the incidence of diseases in animals.
• Emerging Infectious Diseases: The identification and emergence of new infectious diseases in animals, along with the potential for zoonotic transmission, were influencing the development of vaccines to address these novel threats.
• Customization and Specialization: A trend toward more customized and specialized vaccines to address specific regional disease challenges or individual animal health requirements was observed.
• Companion Animal Vaccination: Growing pet ownership and the increasing focus on companion animal health were driving the demand for vaccines tailored to the specific needs of dogs, cats, and other pets.
These are only a few illustrations of the major trends in the industry.
The global veterinary vaccine market is currently witnessing several developments, primarily aimed at bringing new products and entering into collaborations and partnerships. Major manufacturers of products are actively undertaking significant business strategies to translate success in research and development into the commercial clinical setting.
A new entrant can focus on developing innovative veterinary vaccines. The market majorly consists of top established players such as Boehringer Ingelheim Animal Health, Ceva Santé Animale, Elanco Animal Health, Merck Animal Health, and Zoetis, Inc. The new entrants can focus on their strategy of product launches and global expansions.
• Market Growth Potential
• Patent Analysis
• Regulatory Framework
• Epidemiology
• Market Dynamics
• Market Opportunities
• Detailed Segmentation such as Type, Disease, Technology, Route of Administration, and Distribution Channel
• Region and Country-Level Market Size and Forecast for Type, Disease, and Technology Segment
• Competitive Landscape
Manufacturers, CROs, CMOs, and CDMOs focusing on animal health can buy this report.
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