Veterinary Vaccines Market – Global Industry Size, Share, Trends, Opportunity & Forecast, 2018-2028 Segmented By Vaccine Type (Livestock Vaccine, Companion Animal Vaccine), By Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Other), By Region, Competition
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationVeterinary Vaccines Market – Global Industry Size, Share, Trends, Opportunity & Forecast, 2018-2028 Segmented By Vaccine Type (Livestock Vaccine, Companion Animal Vaccine), By Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Other), By Region, Competition
| Forecast Period | 2024-2028 |
| Market Size (2022) | USD 8.44 billion |
| CAGR (2023-2028) | 7.28% |
| Fastest Growing Segment | Live Attenuated Vaccine |
| Largest Market | North America |
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Market Overview
Global Veterinary Vaccines Market has valued at USD 8.44 billion in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 7.28% through 2028.
The global veterinary vaccines market is a critical component of the broader veterinary healthcare industry. It encompasses the development, production, and distribution of vaccines designed to prevent and control diseases in animals, including both companion animals (pets) and livestock. Veterinary vaccines play a crucial role in safeguarding animal health, ensuring food security, and preventing the transmission of zoonotic diseases (those that can be transmitted between animals and humans).
The number of companion animals, such as dogs, cats, and horses, continues to rise worldwide. Pet owners are more willing to invest in healthcare for their animals, including vaccinations, to ensure their health and longevity.
Key Market Drivers
Rising Incidence of Animal Diseases
The global veterinary vaccine market is significantly influenced by the increasing incidence of infectious diseases among animals. These diseases can affect various species, including livestock (cattle, poultry, swine) and companion animals (dogs, cats). Examples of such diseases include foot-and-mouth disease, avian influenza, bovine respiratory disease, and canine parvovirus. Animal diseases can have severe economic consequences. Outbreaks can lead to reduced livestock productivity, increased mortality rates, and trade restrictions. For farmers and livestock producers, this translates into substantial financial losses. To mitigate these impacts, vaccines are developed and administered to prevent the occurrence and spread of these diseases. The concept of One Health emphasizes the interconnectedness of human, animal, and environmental health. Preventing animal diseases is not only essential for the well-being of animals but also for public health. Diseases that can jump from animals to humans (zoonoses) highlight the importance of veterinary vaccines in safeguarding both animal and human populations.
Growing Awareness of Animal Welfare
There is a notable shift in public attitudes toward animal welfare, driven by increased awareness and concern for the well-being of animals. Pet owners are more willing to invest in healthcare for their pets, including vaccinations, to ensure their health and longevity. In the livestock industry, there is a growing recognition that healthy and well-cared-for animals lead to higher productivity and food safety. Consumers are increasingly demanding ethically and sustainably sourced animal products, which incentivizes livestock producers to prioritize animal health and welfare. Regulatory bodies and animal welfare organizations have launched guidelines and certification programs that encourage the humane treatment of animals. These guidelines often include recommendations for disease prevention through vaccination.
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Technological Advancements in Vaccine Development
Advances in biotechnology and genomics have revolutionized vaccine development. Researchers can now identify antigens more precisely and design vaccines tailored to specific pathogens. This has led to the development of subunit vaccines and recombinant vaccines with improved safety profiles. Technological innovations have also improved vaccine delivery methods. Traditional injectable vaccines are being supplemented with alternatives such as oral vaccines and intranasal vaccines, which can be administered more easily and with reduced stress for animals. Modern vaccine development techniques enable the creation of vaccines that are both highly efficacious and safe. This instills confidence in veterinarians, pet owners, and livestock producers, encouraging greater vaccine adoption.
Government Initiatives and Regulations
Many governments around the world have implemented mandatory vaccination programs for specific diseases in animals. For example, bovine brucellosis vaccination is required in cattle in some regions to prevent the disease's spread. Vaccination of livestock is often tied to food safety and international trade regulations. Governments may require certain vaccinations to ensure the safety of animal-derived products for human consumption and to facilitate international trade. Governments and public health agencies often fund research and development efforts related to animal vaccines. This financial support can lead to the discovery and development of new and improved vaccines for various animal species.
Key Market Challenges
Regulatory Hurdles and Approval Processes
Complex Regulatory LandscapeDeveloping and marketing veterinary vaccines involves navigating a complex regulatory landscape. Different countries and regions have their own regulatory agencies and requirements for vaccine approval. Complying with these regulations can be time-consuming and costly for vaccine manufacturers.
Stringent Safety and Efficacy StandardsRegulatory agencies impose stringent safety and efficacy standards on veterinary vaccines to ensure the well-being of animals and prevent potential risks to human health. Meeting these standards often requires extensive preclinical and clinical testing, which can be expensive and time intensive.
Vaccine Registration DelaysDelays in the registration and approval of veterinary vaccines can significantly slow down market growth. Manufacturers must invest in research, development, and clinical trials, and any delays in the approval process can hinder their ability to bring vaccines to market in a timely manner.
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Market Fragmentation and Competitive Challenges
The global veterinary vaccine market is fragmented, with many manufacturers, including both multinational pharmaceutical companies and smaller, specialized firms. This fragmentation can lead to intense competition and pricing pressures. Customers, such as farmers and pet owners, are often price-sensitive when it comes to veterinary vaccines. This can make it challenging for vaccine manufacturers to maintain profitability, particularly when competing with lower-cost alternatives. Expanding into emerging markets can be difficult due to variations in regulatory requirements, distribution channels, and local preferences. Manufacturers must adapt their strategies to suit each market, which can be resource intensive.
Emerging Diseases and Antigenic Variability
The emergence of new and unpredictable animal diseases can pose significant challenges to the veterinary vaccine market. Developing vaccines for these diseases often requires extensive research and development, and the timeline to market may not align with the urgency of addressing disease outbreaks. Some pathogens, like influenza viruses, exhibit antigenic variability, meaning they can mutate over time. This variability can render existing vaccines less effective, necessitating frequent updates and reformulations. This poses technical and logistical challenges for vaccine manufacturers to stay ahead of evolving pathogens. Some diseases, particularly zoonotic diseases that can be transmitted between animals and humans, may have reservoir hosts in wildlife. Controlling these diseases through vaccination can be challenging due to the difficulty of vaccinating wild animals.
Key Market Trends
Increasing Focus on Preventive Healthcare
One prominent trend in the global veterinary vaccine market is the increasing emphasis on preventive healthcare for animals. Pet owners and livestock producers are recognizing the importance of vaccination as a proactive measure to protect animals from infectious diseases. Preventive healthcare not only improves the overall well-being of animals but also reduces the economic burden associated with treating sick animals.
This trend is particularly evident in the companion animal sector, where pet owners are more willing to invest in routine vaccinations to ensure the health and longevity of their pets. In the livestock industry, preventive vaccination is becoming standard practice to maintain herd health and productivity.
Advancements in Vaccine Technology
Advances in vaccine technology are driving innovation in the veterinary vaccine market. These advancements encompass various aspects of vaccine development, production, and administrationResearchers are exploring new vaccine platforms, such as DNA vaccines, recombinant vaccines, and virus-like particle vaccines. These platforms offer improved safety, efficacy, and ease of production. Improved adjuvants and delivery systems are enhancing vaccine effectiveness and reducing the need for booster shots. These innovations are making vaccines more convenient for both pet owners and livestock producers. Advances in genomics and antigen discovery are enabling the development of targeted and customized vaccines that provide better protection against specific pathogens. This trend is particularly relevant for addressing emerging and evolving diseases.
Globalization and Market Expansion
The global veterinary vaccine market is experiencing significant expansion, driven by globalization and increased trade in animal products. Several related trends contribute to this growth
Emerging markets in Asia, Latin America, and Africa are witnessing a rise in demand for veterinary vaccines. As these regions undergo economic development and urbanization, the demand for animal protein and pet ownership is increasing, driving the need for vaccines. The international trade of animals and animal products necessitates compliance with international health and safety standards. This, in turn, boosts the demand for vaccines to ensure the health and safety of animals in transit. Vaccine manufacturers are forming collaborations and partnerships to expand their global presence and access new markets. This includes joint ventures, licensing agreements, and distribution partnerships.
Segmental Insights
Vaccine Type Insights
Based on the category of Vaccine Type, the livestock vaccine segment emerged as the dominant player in the global market for Veterinary Vaccines in 2022. The dominance of the livestock vaccine segment in the global veterinary vaccine market can be attributed to several factors related to the types of vaccines used in the livestock industry. Livestock vaccines are specifically designed to address the health and disease prevention needs of various farm animals, including cattle, swine, poultry, sheep, and goats.
The Livestock vaccines encompass a wide range of vaccine types tailored to different livestock species and specific diseases. This diversity includes vaccines for diseases like foot-and-mouth disease, bovine respiratory disease, avian influenza, porcine circovirus-associated disease, and many others.
The livestock industry places a strong emphasis on preventive healthcare to maintain herd health and productivity. Vaccination is a cornerstone of this approach. Livestock vaccines are formulated to protect animals from diseases that can cause substantial economic losses through reduced production, increased mortality, and trade restrictions. The global livestock population is immense, with billions of animals raised for meat, milk, and other products. For example, there are over 1.5 billion cattle and nearly 25 billion chickens globally. Such large populations create a significant demand for vaccines to protect these animals from infectious diseases. Livestock farming is a vital component of the global agriculture industry, contributing to food security and economic stability in many countries. Consequently, the economic impact of disease outbreaks in livestock can be substantial, driving the need for vaccination. Livestock can be vulnerable to a range of infectious diseases, some of which are highly contagious and can spread rapidly within herds or flocks. Controlling and preventing these diseases often requires a multifaceted approach, with vaccination being a critical component. Some livestock diseases can have zoonotic potential, meaning they can be transmitted from animals to humans. Preventing these diseases through vaccination is not only essential for animal health but also for public health. These factors are expected to drive the growth of this segment.
Technology Insights
The live attenuated vaccines segment is projected to experience rapid growth during the forecast period. Live attenuated vaccines are a category of vaccines that contain weakened or modified forms of the pathogen they target. Live attenuated vaccines often provide a stronger and more sustained immune response compared to other types of vaccines. This is because they closely mimic natural infections, stimulating both humoral (antibody) and cellular immunity.
In many cases, live attenuated vaccines require fewer doses to confer long-lasting immunity. This is particularly advantageous in veterinary settings where administering multiple doses can be challenging, especially for farm animals. Live attenuated vaccines have played a crucial role in eradicating or controlling several devastating animal diseases. For example, the use of live attenuated vaccines has been instrumental in controlling diseases like rinderpest in cattle and pseudorabies in pigs. In the event of disease outbreaks, live attenuated vaccines can be rapidly deployed to control the spread of the disease and protect vulnerable populations of animals. Live attenuated vaccines often provide cross-protection against multiple strains or variants of a pathogen. This is particularly valuable when dealing with pathogens that exhibit antigenic variation. Live attenuated vaccines can be used to protect against a wide range of viral and bacterial diseases, making them versatile tools for veterinarians and livestock producers. These factors collectively contribute to the growth of this segment.
Regional Insights
North America emerged as the dominant player in the global Veterinary Vaccines market in 2022, holding the largest market share in terms of value. The United States has a significant population of pets, including dogs, cats, and horses, leading to a substantial demand for companion animal vaccines. North America boasts a well-developed livestock industry, with high-quality beef and dairy production. This has led to a substantial need for livestock vaccines to maintain herd health and productivity. The region is home to leading veterinary research institutions and vaccine manufacturers, driving innovation and the development of new vaccine technologies.
The Asia-Pacific market is poised to be the fastest-growing market, offering lucrative growth opportunities for Veterinary Vaccines players during the forecast period. Factors As APAC countries undergo rapid urbanization and economic development, there is an increasing demand for animal protein, leading to a growing livestock industry. Countries like China and India have rapidly expanding pet populations, with pet owners showing greater awareness of and willingness to invest in pet healthcare, including vaccinations. Some APAC countries face ongoing challenges with endemic diseases in livestock and poultry. Governments and farmers are increasingly turning to vaccines as a means of disease control to ensure food security. The region is witnessing increased investment in veterinary healthcare infrastructure, including vaccination programs and research and development of new vaccines. Some APAC governments are implementing policies to boost the production of animal-derived products, which includes promoting vaccination to improve livestock health.
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Recent Developments
- On July 25, 2023, Zoetis announced that it hasentered into a strategic partnership with Boehringer Ingelheim to develop andcommercialize new vaccines for livestock. The partnership will see Zoetis andBoehringer Ingelheim work together to develop new vaccines that address theneeds of livestock producers around the world.
- On August 29, 2023, Merck & Co. Inc. announcedthat the European Commission has approved Keytruda® (pembrolizumab) asfirst-line treatment for patients with unresectable locally advanced ormetastatic triple-negative breast cancer (TNBC). Keytruda is a checkpointinhibitor that works by blocking the PD-1 protein, which helps cancer cellsevade the immune system.
- On July 27, 2023, Virbac announced that it hasreceived approval from the European Medicines Agency (EMA) for its new drug,Vectra3D, for the treatment of heartworm disease in dogs. Vectra3D is asingle-dose injectable drug that is the first and only drug that can providelong-lasting protection against heartworm disease in dogs.
- On July 20, 2023, Hester Biosciences Limitedannounced that it has entered into a strategic partnership with Novapharma todevelop and commercialize vaccines for poultry and other animals in Egypt. Thepartnership will see Hester Biosciences and Novapharma work together to developand commercialize vaccines that address the needs of the Egyptian poultry andanimal health markets.
Key Market Players
- Zoetis Inc.
- Merck& Co. Inc.
- Virbac SA
- HesterBiosciences Limited
- ElancoAnimal Health
- BoehringerIngelheim International GmbH
- CevaSante Animale
- PhibroAnimal Health Corporation
- HIPRA
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