Description

As per the Market Statsville Group, the global animal vaccines market size was valued at USD 9.5 billion in 2021 and is projected to reach USD 14.3 billion by 2030, registering a CAGR of 5.3% from 2022-2030. Veterinary vaccines play a significant role in protecting animal and public health, ensuring efficacy in the productivity of food animals, sufficing the feed of the ever-increasing human population. Animal vaccines have also reduced the risks posed by heavy antibiotic dosage to food and companion animals. Veterinary vaccinations benefit animal health and have a major effect on public health by eliminating zoonotic diseases, which transmit from animals to humans. Injecting against rabies vaccines in domestic animals and wildlife helped eliminate human rabies in developed countries. Developments in genetic engineering technology have led to the production of new vaccines such as gene-deleted marker vaccines, virus-like-particle vaccines, recombinant modified live chimeric vaccines, virus vaccines, and DNA vaccines. The utilization of animal vaccines on a large scale is necessary to effectively control animal diseases and requires vaccines to be available at reasonable prices. The technological advancements in vaccine technology help to reduce the cost of veterinary vaccines.

The market is likely to witness moderate growth during the forecast period, owing to the increase in companion animal adoption worldwide and the rise in awareness about animal health regarding livestock and pet animals. In addition, an increase in meat and milk consumption and a rise in the emergence of zoonotic diseases supplement the market growth. However, the high cost of vaccine production and storage and unnecessary excessive vaccine administration to animals hamper the market growth. Moreover, a lack of awareness regarding animal welfare among pet owners hinders the expansion of the animal vaccines market.

Definition of Global Animal Vaccines Market

Animal vaccination is the immunization of a domestic, livestock or wild animal. Growth in demand for pet insurance, increase in the prevalence of animal diseases, and rise in animal health expenditure are some if the factors that are driving the global market of animal vaccines.

Center for Veterinary Biologics (CVB) is responsible for regulating animal vaccines and grants establishment licenses and product licenses to companies only after which the company can produce and sell veterinary biologics.

Global Animal Vaccines Market Covid-19 Impact

The overall impact of COVID-19 is projected to remain fairly negative for animal vaccines companies operating in the animal health industry. The pandemic has greatly affected the veterinary revenue of hospitals and clinics, owing to a decline in number of visits amid nationwide lockdowns and changing animal healthcare approach for providing care to emergency cases and critically ill animals.

Global Animal Vaccines Market Dynamics

Drivers: Increase in prevalence of animal diseases

Companion animals such as dogs and cats suffer from various diseases, which can be fatal, hence require early diagnosis and treatment. Some major diseases prevalent among livestock and companion animals include contagious and infectious diseases. Infectious diseases such as canine distemper in dogs are highly contagious, spreading to other companion animals in the vicinity through the air. Moreover, some of the different types of diseases affecting livestock are foot and mouth disease (FMD) and contagious bovine pleuropneumonia (CBPP). The high incidence of such disease has increased the demand for vaccines to improve the quality of life of humans in terms of finance and animal in terms of health. Thus, a rise in the prevalence of diseases among livestock and companion animals is expected to fuel the growth of the animal vaccines market.

Restraints: Adverse impact of veterinary vaccines on human and animal health

Common adverse effects post-vaccination includes anaphylaxis, systemic reaction, autoimmune hemolytic anemia, respiratory disease, and post-vaccination sarcoma. These side effects lead to the animal's admittance, leading to an increase in the cost for the owners. Further, a higher risk of transmission of animal disease to humans, owing to their practice of consuming animals as meat products, is expected to hamper the use of animal vaccines. Different route of vaccine administration in animal results in inadvertent exposure of bacterial or viral strains in humans, which increase the probability of adverse effects. For instance, aerosol administration of animal vaccines or oral administration of live attenuated vaccines can increase human exposure to animal vaccines. These adverse effects raise concerns among the animal owner, limiting their preference for animal vaccination.

Global Animal Vaccines Market Research Report Segmentation

The global animal vaccines market is categorized based on the product, animal type, and region.

By Product Outlook (Sales, USD Billion, 2017-2030)

• Attenuated Vaccines
• Inactivated Vaccines
• Subunit Vaccines
• Toxoid Vaccines
• Conjugate Vaccines
• Recombinant Vaccines
• DNA Vaccines

By Animal Type Outlook (Sales, USD Billion, 2017-2030)

• Companion animal
  • Dogs
  • Cats
• Livestock animal
  • Cattle
  • Pigs
  • Poultry
  • Sheep
  • Others
• Aquaculture 

By Region Outlook (Sales, USD Billion, 2017-2030)

• North America
• South America
• Europe
• Asia Pacific
• The Middle East & Africa

The attenuated vaccines segment accounted for the largest market share, by product type

Based on product type, the global animal vaccines market is divided into attenuated vaccines, subunit vaccines, toxoid vaccines, inactivated vaccines, conjugate vaccines, recombinant vaccines, and DNA vaccines. In 2021, attenuated vaccines was the highest contributor in the global animal vaccines market. Attenuated vaccines are live viruses whose virulence factor is impaired so that they do not cause any disease to the animal. Specific deletions in genes of the virus can be introduced due to the availability of advanced technology.

Attenuated vaccines are frequently used due to many advantages, making them the largest contributor to market growth. Attenuated vaccines produce stronger and longer-lasting immunity, stimulating both the humoral and cellular immune systems. Furthermore, these vaccines require fewer booster doses than other vaccines, reducing the expenses for vaccination. They do not require adjuvants to be effective in stimulating the immune system. In addition, these vaccines can induce secretory immunity as they can be administered intranasally or intraocularly.

Asia Pacific accounts for the fastest-growing region

Based on the regions, the global animal vaccines market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Worldwide, Asia Pacific is projected to be the fastest-growing region with a CAGR of 5.9% during the forecast period. Asia-Pacific is analyzed across five major countries, namely, Japan, China, Australia, India, South Korea, and the Rest of Asia-Pacific. There has been a significant increase in the production of vaccines to suit the healthcare needs of the pets adopted. These factors contribute to the surge in the development of vaccine technology.

The major reason for the growth of animal vaccines market in the developing economies such as India and China, is the cost-effective veterinary vaccinations offered to consumers. The growth is attributed to the increase in need of protection of livestock from mass wipeouts due to epidemics, especially in countries such as India. This ultimately boosts the growth of the animal vaccines market.

Key Market Players in the Global Animal Model Market

Major players include Merck & Co., Inc., Vaxxinova, Ceva Santé Animale, Sanofi S.A., Romvac, Zoetis Inc., Boehringer Ingelheim GmbH, Biovac, Merial, Anicon Labor GmbH, Nexvet, PHL Associates, Inc., Hygieia Biological Laboratories, Colorado Serum Company, Pfizer, and Arko Laboratories, Ltd.

Top winning strategies are analyzed by performing a thorough study of the leading players in the global animal vaccines market. Comprehensive analysis of various companies' recent developments and growth curves has helped to understand their growth strategies and the potential effect on the market. The companies are evaluated based on annual reports, SEC filings, and press releases.

Recent Development in Global Animal Vaccines Market

Every company follows its own business strategy to attain the maximum market share. Some of the recent developments are given below:

• In February 2021, Ceva collaborated with INRAE to conduct joint projects to manufacture and develop vaccines and pharmaceuticals for farm animals such as pigs, poultry, and ruminants.
• In January 2021, Zoetis launched a vaccine Poulvac Procerta HVT-IBD which provides early protection against the contemporary infectious bursal disease (IBD) viruses confronting U.S. broilers. It has expanded its line of recombinant vector vaccines.
• In July 2020, Merck expanded its business by investing on animal health division to keep animals inoculated against other diseases. Merck Animal Health invested $100 million into its manufacturing site in DeSoto, Kansas, to scale up vaccine production.
• In June 2020, Boehringer received approval that it’s China-developed classical Swine Fever Vaccine, that is Ingelvac CSF MLV, has recently obtained a new veterinary drug registration certificate” from the ministry of agriculture and rural affairs of China.

Key Issues Addressed

• What is the market size by various segmentation of the animal vaccines by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the animal vaccines market?
• What are the key opportunities and trends for manufacturers involved in the animal vaccines supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of animal vaccines in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.