Market Overview
Animal Vaccines ensure the healthy state of the animal and reduce animal suffering. Furthermore, vaccines enable efficient production of animals to feed the expanding human population and eliminate the need for antibiotics to heal food & companion animals.
According to MarkNtel Advisors' research report, “Global Animal Vaccines Market Analysis, 2021,” the market is likely to grow at a CAGR of around 7.4% in the forecast period of 2021-26. The expanding bursts of cattle disease and the constantly expanding livestock population are the prime factors behind the wide acceptance of vaccines throughout the globe. Besides, the rising trend of pet ownership is also increasing the awareness for domestic animals' health, thereby propelling the market growth. Furthermore, the escalating number of R&D investments initiated by the governments & companies is another potential growth factor of the Global Animal Vaccine Market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 7.4% |
| Regions Covered | North America: USA, Canada |
| Europe: Germany, The UK, France, Spain, Italy | |
| Asia-Pacific: China, India, Japan, Thailand, Australia | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | Elanco, Ceva, Phibro Animal Health Corporation, Neogen Corporation, Intas Pharmaceuticals Ltd., Biogénesis Bagó, Ourofino Saúde Animal, Virbac, Zoetis, Merc & Co., Inc., Boehringer Ingelheim International GmbH |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The outbreak of the COVID-19 pandemic has adversely affected various industries. Several countries across the globe imposed nationwide lockdowns, which then led to multiple challenges, supply chain disruptions, and trade limitations in every business. Similarly, the Global Animal Vaccines Market got negatively hit by the pandemic. All veterinary organizations restricted animal care services to acutely ill animals and emergencies. However, investments, support, and funding by various key players have ensured an easy supply flow of animal vaccines to avoid zoonotic viruses from spreading into communities.
Market Segmentation
Recombinant Vaccines to attain the Fastest Market Growth
Based on the Technology, the Global Animal Vaccine Market segments into Live Attenuated Vaccines, Livestock Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, and Others (DNA vaccines). Of all, Recombinant Vaccines are more likely to attain the fastest growth in the forecast period. These vaccines reduce the risk of pathogenicity in animals and fight against multiple virus strains. The formulations can avoid the need for adjuvants, increase the viability of the vaccine, and enhance stability. Hence, the demand for Recombinant Vaccines is propelling globally, and they are likely to attain the fastest growth in the market during the forecast period.
Ruminants Vaccines to Hold the Largest Market Share
Based on the Type, the Global Animal Vaccine Market segments into Porcine Vaccines, Aquaculture Vaccines, Ruminants Vaccines, Companion Animals Vaccines (Canine Vaccines, Feline Vaccines, Poultry Vaccines), Livestock Vaccines. Out of all, Ruminants Vaccines are likely to hold the largest market share in the forecast period. It owes to prominent factors like the booming livestock population, encouraging government initiatives, and the outbreak of diseases, thereby accelerating the demand for this segment, reveals MarkNtel Advisors research report, “Global Animal Vaccines Market Analysis, 2021.”
Regional Landscape
North America Accounted for the Largest Market Share
North America dominated the market in the previous few years with the largest market share and is likely to continue the position in the forecast years. It majorly owes to the significant prevalence of livestock diseases that is leading to large-scale animal deaths. Besides, the abundant presence of well-established pharmaceutical firms strives for better commercialization of their vaccines and augment global reach. These factors are likely to drive the market in the North American region. Furthermore, the rapidly increasing incidence of canine disorders, resulting in the adoption of vaccination, and the growing pet population in the US are a few critical factors seeking the expansion of the animal vaccine market share of the region.
Market Driver
The Global Animal Vaccine Market is highly competitive and marked by multiple small and large animal vaccine manufacturers for investment and support. The key factors influencing the market growth and competition are the constantly growing adoption of veterinary preventive injections and government-aided bulk purchases.
Competitive Landscape
According to MarkNtel Advisors, the leading players in the Global Animal Vaccines Market are Elanco, Ceva, Phibro Animal Health Corporation, Neogen Corporation, Intas Pharmaceuticals Ltd., Biogénesis Bagó, Ourofino Saúde Animal, Virbac, Zoetis, Merc & Co., Inc., Boehringer Ingelheim International GmbH.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. Global Animal Vaccines Market is likely to grow at a CAGR of around 7.4% in the forecast period, i.e., 2021-26.
A. Elanco, Ceva, Phibro Animal Health Corporation, Neogen Corporation, Intas Pharmaceuticals Ltd., Biogénesis Bagó, Ourofino Saúde Animal, Virbac, Zoetis, Merc & Co., Inc., Boehringer Ingelheim International GmbH are a few leading players in the Global Animal Vaccines Market.
A. Recombinant Vaccines are likely to attain the highest CAGR and maintain their significant market share in the forecast period of 2021-26.
A. North America continues to grow at the highest CAGR in the forecast period of 2021-26, thereby presenting immense opportunities to market players of the Global Animal Vaccines Market.
A. The key factors influencing the market growth and competition are government-aided bulk purchases and the constantly growing adoption of veterinary preventive injections.
A. The overall impact of COVID-19 on the animal vaccines market remains negative due to the fall in demand for vaccines as veterinary visits are in fewer numbers, and the animal healthcare approach to provide care to emergency cases and critically ill animals have altered.
