The veterinary vaccine market size is being driven by the increasing incidence of zoonotic diseases and the increasing prevalence of foodborne diseases and infections. The Livestock Vaccines segment is expected to hold the largest market share in 2021 and the Pet segment is expected to have the highest CAGR of 7.0% between 2021 and 2028.
NEW YORK, January 11, 2022 / PRNewswire / – According to New Market research report, “Veterinary Vaccines Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Vaccine Type” [Livestock Vaccines (Bovine Vaccines and Small Ruminant Vaccines) and Companion Animal Vaccines (Feline Vaccines, Canine Vaccines, and Others)] and Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines, and Others), published by The Insight Partners, is expected to reach the global veterinary vaccine market $ 15,536.38 million until 2028 $ 9,984.65 million 2021; it is estimated to have a 6.5% CAGR from 2021 to 2028.
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Report coverage |
details |
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Market size value in |
$ 9,984.65 million in 2021 |
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Market size value according to |
$ 15,536.38 million by 2028 |
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Growth rate |
CAGR of 6.5% from 2021 to 2028 |
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Forecast period |
2021-2028 |
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Base year |
2021 |
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number of pages |
181 |
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No tables |
111 |
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Number of diagrams & illustrations |
76 |
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Historical data available |
Yes |
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Covered segments |
Vaccine type and technology |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; MEA |
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Country area |
USA, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
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Report coverage |
Sales forecast, company ranking, competitive landscape, growth factors and trends |
Veterinary Vaccines Market: Competitive Landscape and Key Developments
Boehringer Ingelheim International GmbH; Zoetis Inc .; Merck & Co., Inc .; Virbac; BIOVAC, NEOGEN Corporation; Elanco; HIPRA; Ceva; and Hester Biosciences Limited are major players in the veterinary vaccine market. Market leaders focus on new product launches, expansion, diversification, and acquisition strategies to tap into prevailing business opportunities.
The story goes on
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In 2021, the United States will be the largest veterinary vaccines market in North America. The country’s regulatory agencies have very strict guidelines for controlling the spread of infections between animals and humans. As part of this policy, the agencies have adopted various strategies. For example in June 2021, the US banned dog imports from 113 countries after false rabies records rose. Additionally, the CDC identified more than 450 dogs imported into the US with counterfeit or fraudulent rabies certificates in 2020, which was estimated to be about a 52% increase over previous years. Vaccination of the pet is mandatory as part of the routine pet and farm animal health plan. Awareness of vaccination among animal land owners, the increasing prevalence of viral infections, and the presence of prominent market players based in the region are expected to significantly increase the growth of the Veterinary Vaccines market over the forecast years.
Growing Market In Untapped Economies To Boost The Veterinary Vaccines Market:
The veterinary medicine business is changing. Countries around the world have preferred sophisticated remedies and supplements that are easy to use and beneficial in healthcare. Countries like China, India, and Australia are expected to be one of the main drivers of expansion in veterinary medicine. The increasing rate of pet ownership, increasing disposable income of the population, and growing awareness of pet health are among the factors that are likely to drive the growth of the Veterinary Vaccine market in the future. In addition, improving animal welfare in all countries and implementing regulations for the manufacture of animal vaccines and dietary supplements in the coming years would drive market growth in emerging regions. The business approach of animal health companies has evolved from pharmaceuticals to preventive measures to productivity gains and now to comprehensive animal health care. This is expected to increase the introduction of veterinary vaccines to the potential market and in the underdeveloped countries, which should create lucrative opportunities for market growth over the forecast period.
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Veterinary Vaccines Market: Segment Overview
The global Veterinary Vaccines Market is segmented into Livestock Vaccines, Pet Vaccines, and others by Vaccine Type. The livestock vaccines segment is expected to hold the largest market share in 2021. However, the pet segment is expected to see the highest CAGR of 7.0% over the forecast period.
Worldwide Veterinary Vaccines Market is technology-based segmented into Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines, and others. In 2021, the live attenuated vaccines segment is likely to hold the largest market share. However, the inactivated vaccines segment is expected to see increasing demand with a fastest CAGR in 2021-2028.
COVID effects:
There have been incidents where pets have been infected with COVID-19 from their human counterparts. As a preventive measure, various organizations vaccinate animals against COVID-19 infection. For example in October 2021, Cincinnati Zoo, vaccinated about 80 animals against COVID-19 with two doses of veterinary vaccine.
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