September 16, 2021

Veterinarian Daily News

Veterinarian Daily News

Veterinary Vaccines Market 2021 – 2028

5 min read

Pune, India, Aug 26, 2021 (GLOBE NEWSWIRE) – The global veterinary vaccines market was worth $ 10.24 billion in 2020. The market is forecast to go from $ 10.73 billion in 2021 to $ 16.13 billion in 2028 at a CAGR. grow by 6.0% in the period 2021-2028. This information is provided by Fortune Business Insights ™ in its report, entitled “Veterinary Vaccines Market 2021-2028”. According to our researchers, the significant growth of the market is mainly due to the increasing adoption of pet animals worldwide, higher spending on pet ownership and the escalating introduction of powerful vaccines, which mainly contribute to the positive growth curve of the market over the forecast years. In order to take precautionary measures for pets and keep them away from fleas and ticks, key players introduced several easy-to-feed medications at the popular request of their customers as it becomes difficult to feed the pets with medication.

In February 2020, Zoetis received approval from the US FDA for Simparica, a monthly chewable flea and tick medication for dogs for the treatment of heartworm infections. This is expected to fuel the growth of the veterinary vaccines market over the said period.

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COVID-19 Impact: Reducing Medical Tourism Amid Pandemic To Stifle Growth

The COVID-19 outbreak affected all industries when it first emerged in 2019 and is having an uncertain impact on this market in 2020. The market saw decent growth of 2.1% in 2020, which is small compared to the years leading up to the pandemic. The pharmaceutical industry observed a significant deterioration in incomes and patient appointments amid the pandemic. For example, in 2020, according to the American Veterinary Medical Association’s survey of veterinary practices in the United States, a notable reduction in customer calls was seen in 2020. Likewise, around 92% of vets said they also unfortunately saw lower medical tourism for pets in April 2020 compared to years before.

Industry development

August 2020: MSD Animal Health announced the acquisition of IdentiGEN, a pioneer in DNA-related animal tracking keys for farm animals and aquaculture.

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Increased awareness and innovation of novel vaccines to fuel market growth

The increased awareness of veterinary medicine and the associated increase in animal ownership are one of the driving factors in the market. Pet owners and lovers of today are extremely vigilant about the vaccination of their pets or animals and the innovative introduction of animal vaccines to ensure their health. These owners were also supported in the process by the government as well as private organizations such as Bayer’s Global Animal Health Movement, which is also linked to the justification of zoonotic diseases.

Based on the product, the market is divided into inactivated, attenuated live, recombinant, and others. The inactivated and live attenuated vaccine segments are classified as dominant market shares despite their orthodox vaccine status and associated restrictions. In 2020 it held a considerable share of 33.9%.

According to the type of animal, the market is divided into companions and cattle. On the basis of the route of administration, the world market is divided into oral and parenteral. Based on sales channels, the market is divided into Veterinary Clinics, Veterinary Clinics, Pharmacies & Drugstores, and others. Finally, in terms of region, the market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

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Report coverage

We used a distinctive research method that includes statistical triangulation based on the famous bottom-up and top-down methods. Our researchers have conducted systematic primary research to authenticate the estimated size of the Veterinary Vaccines market. The data used to present the shares for multiple segments at the national, local and universal levels comes from all-encompassing discussions with various investors. Our analysts have also extracted from materials from paid databases, industry journals, SEC filings, and many other resources.

North America is supported by rapid adoption of veterinary vaccines

North America held the maximum market share in veterinary vaccines, with sales of $ 4.43 billion in 2020. It is expected to become a dominant region in the world market in the foreseeable future. The rapid roll-out of effective veterinary vaccines combined with the deployment of advanced technology-infused vaccine injection devices across the region is likely to drive this region’s market growth.

While Europe achieved significant sales with a stable growth rate. Europe is expected to occupy the second most important position in terms of income, which can be attributed to the increasing adoption of pets, the increasing incidence of zoonotic diseases, the expansion of veterinary clinics and the improved health structure in European countries.

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List of Key Players Covered In This Market Report

  • Elanco (Greenfield, USA)
  • HIPRA (Girona, Spain)
  • Boehringer Ingelheim International GmbH (Ingelheim am Rhein, Germany)
  • Virbac (Carros, France)
  • MSD Animal Health (New Jersey, USA)
  • Zoetis (Parsippany, USA)
  • Ceva (Libourne, France)
  • NEOGEN CORPORATION (Michigan, USA)
  • Hester Biosciences Limited (Ahmedabad, India)

Table of contents:

  • introduction
    • Scope of research
    • Market segmentation
    • Research methodology
    • Definitions and Assumptions
  • summary
  • Market dynamics
    • Market leader
    • Market restrictions
    • Market opportunities
  • Important findings
    • Prevalence of major animal diseases by country
    • Housing patterns for farm animals and companion animals
    • Recent industry developments such as mergers & acquisitions
    • Regulatory Scenario Overview – Veterinary Vaccines
    • Technological advances in veterinary vaccines
    • Overview of the modes of administration for novel vaccines
    • Key strategies adopted by market leaders
    • Impact of COVID-19 on the Veterinary Vaccines Market
  • Global Veterinary Vaccines Market Analysis, Insights, and Forecasts, 2017-2028
    • Main results / summary
    • Market analysis, insights and forecasts – by product
      • Inactivated
      • Live subdued
      • Recombinant
      • Other
    • Market analysis, insights and forecasts – by Tier
    • Market analysis, insights and forecasts – by administrative route
    • Market analysis, insights and forecasts – by sales channel
      • Veterinary clinics
      • Veterinary clinics
      • Pharmacies & drug stores
      • Other
    • Market analysis, insights and forecasts – by region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa
  • Veterinary Vaccines Market Analysis, Insights, and Forecasts in North America, 2017-2028
    • Main results / summary
    • Market Analysis – By Product
      • Inactivated
      • Live subdued
      • Recombinant
      • Other
    • Market Analysis – By Tier
    • Market analysis – by administrative route
    • Market analysis – by sales channel
      • Veterinary clinics
      • Veterinary clinics
      • Pharmacies & drug stores
      • Other
    • Market analysis – by country

Table of contents continued …… ..

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