Global Veterinary Vaccines Market - 2024-2031

Overview

The global veterinary vaccines market reached US$ 124 million in 2023 and is expected to reach US$ 236 million by 2031, growing at a CAGR of 8.4% during the forecast period 2024-2031.

A veterinary vaccine is a biological preparation that provides immunity against a particular animal disease. Vaccination plays a crucial role in improving animal health, reducing the spread of zoonotic diseases, and increasing the production of milk, meat, eggs, wool, and other related products.

The market is driven by factors such as the increasing government initiatives for veterinary vaccines, the rising demand for animal-derived food products, the increasing incidence of livestock diseases, and the growing population of animal's awareness of vaccines.

Market Dynamics: Drivers

Increasing Government Initiatives for Veterinary Vaccines

The demand for the global veterinary vaccines market is driven by multiple factors. One of the key factors is the increasing government initiatives for veterinary vaccines. Veterinary vaccines have a major impact not only on animal health and production but also on human health through increasing safe food supplies and preventing animal-to-human transmission of infectious diseases.

Government agencies and animal welfare organizations are actively promoting the use of veterinary vaccines through various initiatives and programs to drive this market growth. For instance, in September 2023, under the FMD (Food and Mouth Disease) vaccine program, the government earmarked more than 13,000 crores intending to contain the disease by 2025 and eradicate it by 2030. The program aims to vaccinate 100% of cattle, buffalo, sheep, goat, and pig population for FMD and 100% of bovine female calves of 4-8 months of age.

Also, in June 2022, the Union Minister of Agriculture & Farmers' Welfare launched animal vaccines and other diagnostic kits developed by the ICAR-national Research Center on Equines, Hisar, Haryana.

Moreover, government strategies such as introducing new platforms to aware people of veterinary vaccines would propel this market growth. For instance, in June 2023, the Union Minister launched a Nandi portal to process applications and grant non-objection certification (NOC) for veterinary drugs and vaccines. The regulation of the import, manufacturing, and marketing of veterinary drugs and vaccines comes under the purview of the Central Drug Standard Control Organization (CDSCO) under the Ministry of Health.

Similarly, in August 2022, The Department of Animal Husbandry, Chandigarh Administration (India), has decided to start immunization in veterinary facilities because of the ongoing lumpy skin disease outbreak among cattle in Punjab and Haryana as well as rare instances being reported from Chandigarh.

Restraints

Factors such as the high storage & maintenance cost of vaccines, side-effects associated with the vaccines, stringent regulatory requirements, limited availability of vaccine technologies, complexity of vaccine manufacturing, and high cost of research and development (R&D) of veterinary vaccines are expected to hamper the market.

Segment Analysis

The global veterinary vaccines market is segmented based on the vaccine, type, route of administration, distribution channel, and region.

The canine vaccines segment accounted for approximately 56.5% of the global veterinary vaccines market share

The canine vaccines segment is expected to hold the largest market share over the forecast period. The increasing number of pet dogs globally, the growing demand for animal health care, and the increasing awareness of zoonotic diseases drive this segment's growth.

Moreover, ongoing advancements in research and development contribute to the growth of the segment. For instance, in February 2024, The University of Pennsylvania (Penn) School of Veterinary Medicine (Penn Vet) announced the launch of the school's mRNA research initiative to fast-track the development of veterinary mRNA-based vaccines and host-directed therapies.

Also, in March 2024, the Zendal group launches a CSIC-developed vaccine against canine leishmaniasis. A team formed by the Zendal group and scientists from the Spanish National Research Council developed in 2022 the first vaccine for animal mammals based on recombinant DNA to fight canine leishmaniasis, a parasite that causes from skin ulcers to severe inflammation of the liver and spleen.

In addition, key players in the market introducing the rising launches of canine vaccines help to propel this segment's growth in the market. For instance, in June 2024, MSD Animal Health announced the launch & availability of NOBIVAC NXT Rabies in Canada first-of-its-kind line of vaccines that leverages state-of-the-art RNA-particle technology to protect cats and dogs from rabies.

Also, in September 2022, Merck Animal Health announced the domestic launch of the first oral Bordetella bronchiseptica and canine parainfluenza virus vaccine with mucosal protection and easy oral administration.

Geographical Analysis

North America accounted for approximately 41.2% of the global veterinary vaccines market share

North America region is expected to hold the largest market share over the forecast period owing to the high prevalence of livestock and zoonotic diseases, rising demand for livestock-based products and animal-derived food products drives this market growth in this region.

In addition, the rising incidence of canine disorders, which is increasing the adoption of veterinary vaccination, and the rising number of pet insurance in the region are expected to propel this market growth. According to the American Pet Insurance Statistics in September 2023, in the US, 5.36 million pets are insured by their owners, in comparison to over 86.9 million pet-owning households across the country.

Moreover, key players in this region more focus on developing veterinary vaccines for infectious diseases, and government initiatives would propel this market growth. For instance, in March 2023, a joint initiative between the Biotechnology and Biological Sciences Research Council (BBSRC), part of UK Research and Innovation (UKRI), the Foreign, Commonwealth and Development Office (FCDO), and the Bill & Melinda Gates Foundation will see the creation of a new center at The Pirbright Institute designed to accelerate the development of animal vaccines to combat emerging and urgent infectious diseases.

Also, in April 2024, the United States Government, through the United States Agency for International Development (USAID), donated 100,000 doses of the anthrax vaccine in support of the Government of Ghana and the U.N. Food and Agriculture Organization's (FAO) anthrax vaccination campaign.

In addition, major players in the industry introducing newer vaccines for infectious diseases help to drive this market growth in this region, For instance, in June 2023, Boehringer Ingelheim Animal Health Canada Inc. launched a vaccine combination that delivers protection against two of the most devastating and economically damaging swine diseases in one shot. FLEX CircoPRRS protects pigs against porcine circovirus 2 (PCV2) and porcine reproductive and respiratory syndrome (PRRSv).

Market Segmentation

By Vaccine

• Livestock Vaccines
  • Bovine Vaccines
  • Poultry Vaccines
  • Porcine Vaccines
  • Other Livestock Vaccines
• Companion Animal Vaccines
  • Canine Vaccines
  • Feline Vaccines
  • Equine Vaccines

By Type

• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Subunit
• Recombinant Vaccines
• Other Technologies

By Route of Administration

• Injection Vaccines
• Oral Vaccines
• Intranasal/Spray Vaccines

By Distribution Channel

• Veterinary Hospitals
• Veterinary Clinics
• Retail Pharmacies

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the veterinary vaccines market include Merck & Co., Inc, Zoetis Services LLC, Boehringer Ingelheim International GmbH, Biogenesis Bago, Elanco, Ceva, HESTER BIOSCIENCES LIMITED, Phibro Animal Health Corporation, Indian Immunologicals Ltd, and CZ Vaccines among others.

Key Developments

• In March 2024, Merck Animal Health Introduces SEQUIVITY with Microsol Diluvac Forte adjuvant prescription vaccine for use in gilts and sows.
• In October 2023, Virbac announced the signing of an agreement to acquire Globion, a leading Indian poultry vaccines specialist. This transaction will bolster our position as the animal health market leader in India by extending Virbac India's existing poultry portfolio.
• In July 2023, Medgene introduced USDA-licensed platform vaccine technology for the cattle industry. This vaccine approach leverages USDA-approved "platform technology" guidelines that are safe, and easily adapted to multiple animal disease targets.
• In September 2022, Merck Animal Health launched NobivacIntra-Trac Oral BbPi for the dual prevention of two major canine respiratory pathogens.
• In August 2022, the Indian Council of Agricultural Research, ICAR-National Research Centre on Equines (ICAR-NRCE), Hisar (Haryana), in collaboration with ICAR-Indian Veterinary Research Institute (IVRI), Uttar Pradesh developed a homologous live-attenuated Lumpy Skin Disease vaccine named Lumpi-ProVacInd.

Why Purchase the Report?

• To visualize the global veterinary vaccines market segmentation based on vaccine, type, route of administration, distribution channel, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development
• Excel data sheet with numerous data points of global veterinary vaccines market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping is available in Excel consisting of key products of all the major players.

The global veterinary vaccines market report would provide approximately 70 tables, 75 figures, and 182 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies