Veterinary Vaccines Market is Expected to Reach $13.51 bn by 2027
The Veterinary Vaccines Market was valued at US $7.91 billion in the year 2018 and is estimated to reach US $13.51 billion by 2027, at a CAGR of 6.13%.
Generally, vaccines are effective in preventing infectious diseases. Veterinary vaccines especially reduce the burden of the disease in animals and also helps in preventing several zoonotic diseases also. There are four types of veterinary vaccines available depending on preparation type, they are live-attenuated or inactivated, recombinant vaccines, RNA/DNA based & vectored-based vaccines and toxoid vaccines. Veterinary vaccines are generally used for transboundary animal diseases such as Rift valley fever, Foot and Mouth Disease, Bluetongue, African horse sickness, Contagious bovine pleuropneumonia, Hemorrhagic septicemia, Brucellosis, Cattle vaccines, and small ruminant vaccines.
Globally, the rise of livestock population affected by Foot & Mouth Disease is about 77% while around 500,000 livestock succumbs to Brucellosis. In recent times, there is a surge in the livestock population and companion animals, especially cattle, cats and dogs. It is estimated that in 2018 alone the population of livestock was more than 990 million cattle, cats being 373 million and dogs being 471 million dogs and it is expected to rise more in the forthcoming years. Thus, the demand for animal vaccines is high and is expected to contribute principally to market growth.
The veterinary vaccines market can be classified into two major segments, livestock vaccines (consists of farm animals like cattle, pigs, sheep, poultry, aquaculture & bees) and companion animals (consists of dogs, cats & horses). Recombinant vaccines are the fastest-growing segments in the forecast period
The major market drivers for the veterinary vaccines market include an increase in livestock population and adoption of pet animals, growing incidence of animal diseases and awareness of animal health and an increase in pet healthcare expenditure. While high storage cost and maintenance of vaccines are key restraints for veterinary vaccines market growth.
An increase in demand and usage of animal products and dairy products are also expected to boost the veterinary vaccines market. Focusing on animal health & welfare and promotional activities explaining the advantages of vaccination will aid the animal vaccine market growth positively.
Public & private partnerships for the manufacturing of vaccines, vaccine technology development, distribution & accessibility might impact the market growth positively during the forecast period. Development of Novel biotechnological vaccines and technological advancements in the development of newer vaccines for various infectious diseases are major challenges for the veterinary vaccines market.
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Major companies for Veterinary Vaccines market include Merck, Bayer Healthcare, Sanofi-Aventis, Virbac, Novartis Animal Health, Boehringer Ingelheim, Wyeth and many more….
- Boehringer Ingelheim is investing more than US $189.82 million into developing one of the largest biotechnology production sites for veterinary vaccines in Europe
- Merck Animal Health Completes Acquisition of Vaki to Further Broaden Its Leadership Position in Aquaculture to Advance Fish Health and Welfare
Based on Animal Type (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn):
- Livestock Animals
- Companion Animals
Based on Geographic Region (Market Size and Forecast, and Y-o-Y Growth, (US$ Mn)
- North America
- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Veterinary Vaccines Market, 2015 to 2018
- Forecast of the Veterinary Vaccines Market Growth till the year 2027
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Veterinary Vaccines Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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