Veterinary Vaccines Market Size, Share & Trends Analysis Report By Product (Attenuated Live Vaccines, Inactivated Vaccines, Subunit Vaccines, DNA Vaccines, Recombinant Vaccines), By Animal Type (Poultry, Aqua, Ruminants, Companion Animals) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2023-2031

Market Overview

The global veterinary vaccines market size was valued at USD 10.7 billion in 2022. It is projected to reach USD 19.7 billion by 2031, growing at a CAGR of 6.94% during the forecast period (2023–2031).

Due to the increasing complexity and high cost of vaccine development, the market is shrinking. Vaccines are a powerful tool for preventing illness in humans and other animals. Many diseases that once threatened animal health and welfare have been eliminated or significantly mitigated. Vaccination is an integral part of responsible animal husbandry practices. Animal vaccinations are crucial for ensuring the health of animals and limiting financial losses for their owners. Vaccines are significantly attenuated and subunit vaccines are helpful for disease prevention because of how they work. Animal vaccines are beneficial to the environment because they decrease the need for antibiotics and the prevalence of resistant bacteria. To prevent the spread of disease, they are given to animals.

Market Dynamics

What are the Primary Factors Driving the Market for Veterinary Vaccines?

Increased Awareness and Innovation of New Inoculation Products

The rising demand for animal vaccines can be traced mainly to the rising public interest in veterinary medicine, the proliferation of new animal husbandry programs, and the general uptick in pet ownership. Modern pet owners pay a lot more attention to their pets' immunization status and the latest advances in veterinary vaccines designed to keep their animals healthy. Government and non-government organizations concerned with reducing the prevalence of zoonotic diseases have also helped. One example is Bayer's global campaign for animal health.

Growth in Ownership of Companion Animals

The rising popularity of keeping pets has had a significant effect on the market for animal vaccines. Regarding improving people's physical health and happiness, companion animals play a pivotal role in raising living standards. Most households consider their pets to be family members, which has led to a surge in pet ownership across the globe. Additionally, increasing disposable income levels in countries like India have contributed to a rise in the number of households with pets. Further, there has been a rise in general consciousness about the importance of caring for animals. As a result, there is a rise in the need for veterinary medicine, which is helping to drive the global growth of the animal vaccines market.

What are the Main Factors that will Slow Down the Market for Veterinary Vaccines?

Lack of Immunization Adoption among Smallholder Farmers in Developing Countries

It is estimated that 600-900 million smallholder farmers own livestock in Africa, Asia, and Latin America. Smallholder farmers do not widely use animal immunization due to several factors, including a lack of knowledge about its benefits, a lack of affordability when it comes to Inoculation products, and a lack of availability because of a weak supply chain. Many smallholder farmers' livestock animals perish from various diseases, adding to their financial hardships. Governments and organizations are taking different approaches to increase the accessibility, availability, and affordability of animal immunization among smallholder farmers.

What are the Future Opportunities for Veterinary Vaccines?

Rising Demand for Advanced and Effective Immunization Products

The development of new technologies and the subsequent introduction of animal products are also major forces. Vaccination methods for animals have undergone significant developments in research and development since their introduction. Because of these factors, recombinant vaccines have been developed; these vaccines have many benefits, including protecting the vaccinated individual from the pathogen. Conventional attenuated and inactivated pathogens used for animal immunization have significantly contributed to animal and human health protection. Another major factor motivating the widespread use of animal inoculation products is the avoidance of public health crises caused by animal diseases that can be transmitted to humans.

Regional Analysis

The global veterinary vaccines market is bifurcated into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.

North America Dominates the Global Market

North America is the most significant shareholder in the global veterinary vaccines market and is expected to grow during the forecast period. Government initiatives to improve animal health are increasing, which is expected to boost the demand for veterinary vaccines in Canada. For instance, the Canadian Animal Health Institute (CAHI) collaborates with medical professionals, farmers, pet owners, and the government to ensure the availability of high-quality, effective products for animal health. The United States has been cutting edge on vaccine research and development, with innovations like live vector and live-gene-deleted vaccines. Many established pharmaceutical companies are actively working to broaden the commercialization of their vaccines and increase their geographic reach, which is also expected to contribute to the market's expansion.

Asia-Pacific is expected to grow during the forecast period. Increasing efforts to commercialize veterinary pharmaceuticals and immunizations, as well as government initiatives, all contribute to the expansion of the regional market. India's livestock population of about 520.6 million makes it home to one of the world's largest animal husbandry industries. Therefore, there is a high demand for vaccines because of the country's massive cattle population. Increasing efforts to commercialize veterinary vaccinations and immunizations at affordable prices and high R&D spending by many key players are driving the market. Dogs are immunized with vaccines made from inactivated cell cultures. As a result of ongoing research and development in the field of vaccines, these treatments are now affordable and widely accessible. Companion animal health awareness is on the rise, and the growing number of people who own pets in the region is another factor helping to propel the market forward.

Due to the rising production of veterinary products, better animal husbandry practices, and an ever-increasing pet population, Europe is expected to become the second-largest market for veterinary vaccines. The regional market has been given a boost by government programs aimed at enhancing animal health. The French, the Germans, and the Britons aren't the only European countries where cats are popular pets. As a result, the veterinary vaccines market's growth is fueled by the increasing popularity of companion animals in Europe and the rising consciousness about the importance of animal health. The European pharmacopeia has established multiple guidelines for vaccine dosing. Vaccine manufacturers must prove each manufactured batch's efficacy and safety by conducting efficacy testing.

Segmental Analysis

The global veterinary vaccines market is segmented by product and animal type.

Based on product, the global market is bifurcated into attenuated live vaccines, inactivated vaccines, subunit vaccines, DNA vaccines, and recombinant vaccines.

The attenuated live vaccines segment is the highest contributor to the market and is expected to grow during the forecast period. The development of swine protein subunit vaccines for intramuscular administration is the oldest method for extending the species' productive lifespan through live attenuation. The vaccine is widely used to treat ecthyma infections in lambs and sheep. The practice is also being tested for the creation of new uses. For instance, scientists are working on swine protein subunit vaccines that would be administered intramuscularly to replace traditional vaccines. Infected pigs have a longer and less tragic life expectancy thanks to the help of these products.

Based on animal type, the global market is bifurcated into poultry, aqua, ruminants, and companion animals.

The companion animals segment is the highest contributor to the market and is expected to grow during the forecast period. As there is currently no treatment for canine distemper after infection, vaccination is the only option for preventing the spread of the virus, which ferrets and other common household pets carry. Morbillivirus causes distemper in canines, foxes, raccoons, and wolves and is spread between them via airborne droplets and direct contact between sick and healthy animals. Canine distemper causes severe damage to the respiratory system, urogenital system, and digestive system, making vaccination of dogs crucial. Dogs with gastrointestinal bacterial infections and young puppies are at a higher risk of contracting this disease.

Impact of covid-19

The COVID-19 outbreak has created havoc across the globe. The disruption in the supply chain has compelled the government to closely work with the veterinary vaccine manufacturers in order to maintain the supply chain. For instance, the FDA’s Center for Veterinary Medicine (CVM) has taken several steps to mitigate the shortage of veterinary vaccines.

Recent Developments

• April 2022- Elanco and Royal DSM Form Strategic Partnership in the United States to Market Bovaer, a Groundbreaking Methane-Reducing Feed Product for Cattle.
• May 2022- TwistPak was introduced by Boehringer Ingelheim GmbH, allowing swine producers to conveniently, quickly, and flexibly combine two vaccines.