[193 Pages Report] Immunization and vaccination are accepted as the most cost-effective and viable method of controlling infectious veterinary diseases. Veterinary vaccines play an important role in the reduction of diseases, in both, livestock and companion animals.
Increasing awareness regarding animal health and growing demand for animal protein food products are key factors expected to augur well for the veterinary vaccines market. Veterinary vaccines are witnessing demand upsurge, globally, owing to increasing government-backed initiatives for the prevention of zoonotic diseases.
The global veterinary vaccines market is projected to be valued at US$ 9.1 Bn in 2022, and is expected to witness a CAGR of nearly 7% during the forecast period (2022–2026).
However, the coronavirus (COVID-19) pandemic has exposed the market to several uncertainties. With initial speculations blaming meat products for the transmission, the veterinary vaccines market witnessed a slowdown. That being said, further investigations have revealed that, meat consumption is not responsible for the COVID-19 contagion. As such, the veterinary vaccines market is gradually coming back on track, backed by increasing demand for animal-based products such as eggs, milk, and meat.
“Development of new and effective veterinary vaccines such as recombinant vaccines for infectious, parasitic, and metabolic diseases, and increasing animal disease eradication programs, will boost the growth of the veterinary vaccines market over the coming years.”
Key Takeaways of Veterinary Vaccines Market Study
- Attenuated live vaccines emerged as the largest segment by product, representing around 24% revenue share in veterinary vaccines market in 2021. Attenuated live vaccines are effective and are widely preferred for the treatment of animal diseases; they are expected to exhibit significant growth over the forecast period.
- By disease, the foot & mouth disease accounted for the highest revenue in 2021. High prevalence of foot & mouth disease is anticipated to drive demand for veterinary vaccines, worldwide.
- Veterinary clinics hold over 2/5 share of the veterinary vaccines market value, owing to increasing number of veterinary clinics.
- Based on species, livestock animals account for a leading revenue share in the veterinary vaccines market, owing to higher demand for livestock vaccines for better quality of meat and processed meat export.
- Cumulatively, North America and Western Europe contribute over 58% share in the global veterinary vaccines market, with North America leading the pack in terms of revenue share.
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Acquisition a Prominent Strategy Adopted by Veterinary Vaccine Manufacturers
The acquisition strategy helps in complementing the vaccine portfolio that adds significant value to an organization. For instance, in June 2016, Boehringer Ingelheim International GmbH signed an agreement with Sanofi’s animal-health business (Merial). In July 2018, Zoetis acquired Nexvet Biopharma. This collaboration strengthened the development platform of mAb therapies and added new alternatives to treat osteoarthritis in companion animals.
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Future Market Insights brings a comprehensive research report on forecasted revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2026. The global veterinary vaccines market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on the veterinary vaccines market on the basis of product (attenuated live vaccines, conjugate vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, DNA vaccines, and recombinant vaccines), disease (anaplasmosis, canine parvovirus, foot & mouth disease, new castle disease, distemper disease, influenza, porcine reproductive & respiratory syndrome (PRRS), and others), distribution channel (veterinary clinics, veterinary hospitals, veterinary research institutes, and retail pharmacies), and species (companion animals, companion animals, and equine), across seven major regions.
Key Segments of Veterinary Vaccines Industry Survey
By Product:
- Attenuated Live Vaccines
- Conjugate Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Toxoid Vaccines
- DNA Vaccines
- Recombinant Vaccines
By Disease:
- Anaplasmosis
- Canine Parvovirus
- Foot & Mouth Disease
- New Castle Disease
- Distemper Disease
- Influenza
- Porcine Reproductive & Respiratory Syndrome (PRRS)
- Others
By Distribution Channel:
- Veterinary Clinics
- Veterinary Hospitals
- Veterinary Research Institutes
- Retail Pharmacies
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By Species:
- Companion Animals
- Canine
- Avian
- Feline
- Livestock Animals
- Aquatic
- Bovine
- Porcine
- Ovine/Caprine
- Poultry
- Equine
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The post Veterinary Vaccines Market is forecast to grow at a healthy CAGR of 7.2% between 2022 and 2026, surpassing a valuation of around US$ 14.1 Bn by 2026 appeared first on Future Market Insights.