Animal Vaccines Market Report Analysis, Industry Demand, Scope, Future Growth, Trend and Forecast to 2030
Animal Vaccines Market
Animal Vaccines Market Size registering a CAGR of 7.50% during the forecast period (2023 – 2030), and expected to reach USD 15.26 billion by 2030.
Animal Vaccines Market Trends and Analysis by Type, By Technology and By Region – Forecast to 2030
The animal vaccines market suffered immensely because pet owners and farmers were encouraged to keep their animals at home. They were advised against taking their pets to the vet to get strong and effective vaccines like the Pfizer veterinary vaccines. Growth in the veterinary/animal vaccines market is starting to pick up dramatically now that a vaccine for COVID-19 is being widely administered. Demand for animal vaccines is surging because livestock on farms around the world need these to remain healthy.
Major Key Players:
Some of Key Market Players are Boehringer Ingelheim International GmbH (Germany), Zoetis Inc. (US), Ceva Santé Animale (France), Merck & Co., Inc. (US), Elanco Animal Health Incorporated (US), Virbac (France), Phibro Animal Health Corporation (US), Hipra (Spain), Biogénesis Bagó S.A.(Argentina), Neogen Corporation (US).
Segment Analysis
The global animal pharmaceuticals market is segmented into type, technology, and region. The type segment is further segmented into porcine vaccines, poultry vaccines, livestock vaccines, companion animal vaccines, aquacultutre vaccines. The technology segment is segmented into Live attenuated vaccines, Inactivated vaccines, Toxoid vaccines, Recombinant vaccines, others.
Regional Analysis
The global Animal Vaccines Market Report, based on region, has been divided into Americas, Europe, Asia-Pacific, and Middle East & Africa.
Americas dominated the global animal vaccine market due to various factors, such as the rising prevalence of animal diseases and the rise in pet ownership in the region. Furthermore, the high number of veterinary clinics in the region also boosts the growth of the market. There is an increasing prevalence of animal diseases such as foot & mouth disease, canine parvovirus, distemper, and reproductive & respiratory syndrome. Parvovirus infections are seen across the US and Canada. The American Veterinary Medical Association (AVMA) reported around 118,624 veterinary practitioners were operating in 2020. Similarly, according to the statistics published by the Canadian Veterinary Medical Association in 2020, about 12,921 veterinarians were present in Canada.
Europe accounted for a significant share in the market owing to a high population of companion animals in Europe, rising research and development investment, and increasing adoption of animal vaccines. According to the Industrial Association of Pet Care Producers, there are around 34 million pets in the UK, including dogs, cats, small mammals, and birds. In October 2021, Boehringer Ingelheim announced an additional 100 million EUR investment in its veterinary public health capabilities in Lyon-Jonage, France, to aid governments and public health organizations in managing future emerging and transboundary diseases. The additional investment will enable the adaptation of production lines for other emerging diseases, in particular swine and avian vaccines.
Asia-Pacific is expected to exhibit the highest CAGR during the forecast period of 2021-2030. This is due to lucrative opportunities for players operating in the animal vaccine market, a rise in the livestock population, and the increasing prevalence of animal diseases in the region. There is increasing awareness about animal health in the Asia-Pacific region. For instance, according to the report published by Pet Fair Asia and goumin.com, the total number of pet dogs and cats in China reached 99.15 million, with pet owners spending 29 billion US dollars in 2019. The increasing prevalence of animal diseases such as foot and mouth disease and avian influenza boosts the market growth in the region.
Middle East & Africa is expected to witness restricted growth compared to other regions due to limited access and healthcare affordability. The market growth in the region is driven by factors like the increasing incidence of zoonotic diseases and increasing pet adoption in the region. The common zoonotic disease diagnosed in this region is Rift Valley fever. Hence, emphasis is being put on promoting animal health in the region and improving healthcare services for companion animals.
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