Market Definition
Vaccines are becoming more significant now than ever, owing to the changing living standards, environmental conditions, etc., and principally to reduce the risks of getting diseases. Vaccines in humans or animals work in line with the natural defense of the body and enhance the immune system in order to prevent life-threatening diseases.
Similarly, the lives of animals are no exception and require the best protection. Hence, several animal healthcare associations are instigating vaccine developers to offer an extensive range of products to fight against certain kinds of germs and eliminate the possibility of illnesses in animals, such as Canine Disease, Porcine Disease, Bovine Disease, Poultry Disease, & Aquaculture Disease, among others.
Market Insights
The Europe Veterinary Vaccines Market is projected to grow at a CAGR of around 5.5% during the forecast period, i.e., 2021-26. The growth of the market is driven by the swift escalation in pet ownership across Europe, entwined with the growing awareness & sincerity among people about veterinary vaccines. Besides, growing awareness about various benefits of vaccines, viz., animal & public health protection, minimal animal suffering, reduced dependency on antibiotics, & healthy production of animal derived-food, to feed the burgeoning human population is also boosting the demand for veterinary vaccines and driving the market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 5.5% |
| Country Covered | The UK, Germany, Italy, Franc,e Spain, Others |
| Key Companies Profiled | Merck & Co. Inc., Virbac SA, Elanco Animal Health, Ceva Sante Animale, Phibro Animal Health Corp., HIPRA, Zoetis Inc., Boehringer Ingelheim International GmbH, Neogen Corporation etc. |
| Unit Denominations | USD Million/Billion |
Moreover, rising instances of Distemper, Kennel Cough, Parvovirus, Canine Herpes, Lyme Disease, Rabies, Porcine Disease, Lumpy Skin, Rotavirus, Infectious Bronchitis, Avian Influenza, Marek's Disease, etc., are also instigating the leading vaccine manufacturers to expand their production capacities and, consequently, boost the market through 2026.
In addition, increasing support from the governments of different countries in Europe through massive investments & initiatives, coupled with the active participation of animal associations for the production & distribution of veterinary vaccines, shall further fuel the market growth in the coming years.
Impact of Covid-19 on the Europe Veterinary Vaccines Market
The Covid-19 pandemic in 2020 had a decelerating impact on most industries across Europe, but the Veterinary Vaccines Market observed no direct effects. Since the entire world made a paradigm shift to work from home, the number of pet ownership rose dramatically during these phases, which surged the demand for vaccines. Since governments allowed the production of all medicines & vaccinations, the veterinary vaccines market across Europe witnessed a moderate hike amidst the crisis.
Furthermore, World Organization for Animal Health/Office International des Epizooties (OIE) & the World Veterinary Association (WVA) encouraged several European countries to prioritize providing Covid-19 vaccination to veterinary professionals working at the animal-human interface for them to continue safeguarding public health. As a result, it also fueled the demand for veterinary vaccines, which projects considerable growth opportunities for the market in the coming year.
Market Segmentation
Based on the Technology:
Here, Live Attenuated Vaccines are anticipated to display the fastest growth in the Europe Veterinary Vaccines Market during the forecast period. It owes principally to the growing population of animals and increasing awareness among people about the benefits of these vaccines, like building a strong immune response & might be a lifelong immunity with only one or two doses in animals.
Besides, the mounting demand for these vaccines across commercial poultry industries to strengthen the immune systems of the poultry and protect against health issues like Infectious Bronchitis Virus (IBV) & Newcastle Disease Virus (NDV) is also playing a crucial role in surging the demand for live attenuated vaccines and driving the market.
Country Landscape
Geographically, the Europe Veterinary Vaccine Market expands across:
Of all countries across Europe, France is expecting the fastest market growth pace over the forecast period. It owes principally to the increasing development & production of veterinary vaccines in the country entwined with the active participation of the French government in imposing stringent regulations & specifications associated with vaccines to ensure safe dose production.
Besides, several animal associations & leading vaccine producers actively increasing their production & distribution capacities shall further stimulate the market growth across France during the forecast period. Moreover, growing awareness among people about the significance & benefits of vaccinations for animals is another crucial aspect contributing to the surging demand for veterinary vaccines across France, which, in turn, would fuel the overall market growth through 2026.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Europe Veterinary Vaccines Market is projected to grow at a CAGR of around 5.5% during 2021-26.
A. The mounting awareness about the importance of veterinary vaccines is the prime aspect projected to drive the Europe Veterinary Vaccines Market through 2026, while issues like proper storage & high maintenance costs of vaccines might restrain the market growth in the coming years.
A. The mounting inclination of governments of different countries in Europe toward accelerating the production of animal vaccines under safe doses & suitable packaging with greater shelf-life is the key trend in the Europe Veterinary Vaccine Market.
A. Live Attenuated technology is anticipated to emerge as an area of remunerative opportunities for the leading players in the Europe Veterinary Vaccines Market through 2026.
