Animal Vaccines ensure the healthy state of the animal and reduce animal suffering. Additionally, vaccines enable the efficient production of animals to feed the expanding human population and eliminate the need for antibiotics.
The Global Animal Vaccines Market is projected to grow at a CAGR of around 7.4% during the forecast period, i.e., 2023-28. The constantly inflating livestock population paving the way for bursts of cattle disease has been the prime factor behind the wide acceptance of vaccines throughout the globe. Besides, the rising trend of pet ownership also increases awareness of domestic animals' health, propelling the market growth.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada|
|Europe: Germany, The UK, France, Italy, Spain, Others|
|Asia-Pacific: China, India, Japan, Thailand, Australia, Others|
|South America: Brazil, Others|
|Middle East & Africa: Saudi Arabia, UAE, South Africa, Others|
|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, Others|
|Unit Denominations||USD Million/Billion|
Still, the market got negatively hit by the pandemic. As a result, all veterinary organizations restricted animal care services to acutely ill animals and emergencies. Various key players' investments, support, and funding have ensured an easy supply flow of animal vaccines to prevent zoonotic viruses from spreading into communities. As such, the escalating number of R&D investments initiated by governments & companies is another potential growth factor for the Global Animal Vaccine Market.
The market is anticipated to develop quickly in the Asia Pacific during the projected period. India had 192.5 million cattle in 2019, up from 190.9 million in 2012, according to the National Dairy Development Board. Since so many cattle are in the nation, the need for vaccines is increasing gradually. In addition, the increasing efforts to commercialize veterinary vaccines and inoculations at tolerably low prices drive the industry further.
Key Driver: The Augmenting Need for Protozoan Parasitic Vaccines
To prevent hazardous disease transmission from animals to people, multiple countries are implementing mass immunization campaigns for animals. As such, the demand for veterinary vaccines is expected to rise due to increased initiatives and investments governments worldwide make to reduce the burden of animal disease and guarantee food security. As a result, protozoan parasitic vaccines are now in high demand in the veterinary healthcare sector, and this trend is projected to continue during the forecast period.
Possible Restraint: The dearth of Animal Vaccination Awareness Among Smallholder Farmers
Despite its upbeat outlook, the market for veterinary vaccines is confronted with several obstacles that are anticipated to impede its expansion throughout the projected period. Smaller farmers lack knowledge and accessibility, healthcare awareness in some areas, and the possibility of adverse effects from animal immunizations are a few of these concerns.
Growth Opportunity: Enhancing Access to Avant-garde and Effective Vaccines
The development of technology and the subsequent introduction of animal products are other important considerations. Animal immunizations have experienced significant R&D advancements since they were initially made public. Vaccinations using conventionally attenuated and inactivated pathogens have significantly contributed to animal and human health.
However, the limitations of conventional animal immunization, such as the complicated immunogenicity of some bacterial pathogens, are frequently only partially mimicked by inactivated vaccines. These factors led to the development of recombinant vaccines, which offer several benefits, including not exposing the vaccine recipient to the pathogen during inoculation. Additionally, avoiding animal diseases that can pass to humans and cause epidemics is another aspect emerging as the opportunities for the market players to introduce more animal immunization products.
Based on Technology,
Of them all, the attenuated live vaccines segment dominated the market for animal vaccines and accounted for a larger revenue share in 2022. The most traditional vaccination strategy in use in the veterinary industry is live attenuation. However, this technique is also being tested to create new applications. The design of swine protein subunit vaccines that are administered intramuscularly is one of these possibilities. These products help extend the lifespan of diseased swine and lower fatality rates.
Conversely, the recombinant vaccine segment is anticipated to increase profitably over the projection period as they aid in lowering the risk of pathogenicity in animals. Due to the ability of recombinants to carry several gene inserts, these vaccines are expected to offer vaccination against multiple virus strains.
In addition, these vaccine formulations can stabilize the vaccine, increase its vitality, and reduce the requirement for adjuvants. Some of the recombinant veterinary medicine vaccines include avian influenza, newcastle disease, canine distemper, and pseudorabies. Backed by the immense benefits of such vaccines, the market is likely to thrive in the coming years.
Based on Type,
Out of all, the Livestock segment dominated the market in the historical period. This is due to several factors, including an increase in the population of livestock, encouraging government programs, and the outbreak of diseases among cattle and sheep. Inc. Likewise, the companion category is anticipated to increase fastest during the forecast years. Ferrets and household pets both carry the canine distemper virus, which calls for an utterly preventative vaccination because there is no cure for the disease once it has been contracted. The respiratory, urogenital, and gastrointestinal systems are all destroyed by canine distemper, making vaccination of dogs necessary. Newborn puppies and dogs with gastrointestinal bacterial infections are more prone to this condition. As a result, the industry is expected to expand in the coming years.
Geographically, the Global Animal Vaccines Market expands across:
In the historical period, North America dominated the market and is likely to prevail in the same trend in the forecast years as well. The higher instances of livestock and zoonotic illnesses causing widespread animal fatalities can be credited for this substantial share. In addition, the prevalence of established pharmaceutical companies, who continually work to expand their geographic reach and promote the widespread marketing of their vaccines, is anticipated to spur market expansion. Further, the rising pet population in the United States, resulting in the higher frequency of canine diseases, is raising the use of vaccination against them, which drives the regional market.
On the other hand, the Asia-Pacific's market growth is likely to be boosted by a number of important factors, including the predicted increase in the cattle population and government initiatives, particularly in developing nations. For instance, Ancovax, India's first animal vaccine against the SARS-CoV-2 virus, was released by the Center in June 2022 as COVID-19 cases increased throughout the country. An inactivated SARS-CoV-2 (Delta) antigen that can neutralize both Delta and Omicron versions is present in the COVID-19 vaccine Ancovax, which is given to animals like dogs, lions, leopards, mice, and rabbits. This vaccine is one of six that the Indian Council of Agricultural Research-National Research Centre on Equines (ICAR-NRCE) has developed and produced on-site.
Recent Developments in the Global Animal Vaccines Market
Do you require further assistance?
1. The sample report seeks to acquaint you with the layout and the overall research content.
2. The deliberate utilization of the report may further streamline operations while maximizing your revenue.
3. To gain an unmatched competitive advantage in your industry, you can customize the report by adding more segments and specific countries suiting your needs.
4. For a better understanding of the contemporary market scenario, feel free to connect to our knowledgeable analysts.
Frequently Asked Questions
A. The Global Animal Vaccines Market is projected to grow at a CAGR of around 7.4% during 2023-28.
A. The augmenting need for protozoan parasitic vaccines is likely to drive the market further during the projected time frame.
A. The prominent players anticipated to stiffen the competition globally are Elanco, Ceva, Phibro Animal Health Corporation, Neogen Corporation, Intas Pharmaceuticals Ltd., Biogénesis Bagó, Ourofino Saúde Animal, Virbac, Zoetis, Merc & Co., Inc., and Boehringer Ingelheim International GmbH.
A. Livestock segment is anticipated to emerge as an area of remunerative opportunities for the leading players in the Global Animal Vaccines Market during the forecast period.
A. Globally, North America would provide lucrative prospects for the Global Animal Vaccines Market in the years ahead.
A. Enhancing access to avant-garde and effective vaccines is expected to present remunerative opportunities for the leading players in the Global Animal Vaccines Market during the forecast period.
A. The dearth of animal vaccination awareness among smallholder farmers is the possible restraint affecting the growth of the Global Animal Vaccines Market during 2023-28.