Veterinary Vaccines Market

Market Overview

The veterinary vaccines market was valued at USD 8,796 million in 2019 and is expected to grow with a CAGR of 7.2% during the forecast period.

The veterinary vaccines market is limited in terms of size as the development of vaccines has become complex and expensive. Vaccines are amongst the most effective means of preventing diseases in both animals and humans. In many cases, diseases have been eradicated, or their impact on animal health and welfare has been greatly reduced. Vaccination is considered part and parcel of good animal husbandry management.  

Increasing livestock population, rising animal husbandry, commercialization of animal products, technological advancement, the rapid development of advanced vaccines, and increasing prevalence of zoonotic and livestock diseases drive the market growth. The market has undergone a shift in trend from live attenuated vaccines to DNA vaccines and is progressively incorporating recombinant vaccine solutions providing an impetus to the market growth. With the evolving nature of infectious diseases, the demand for new vaccines to fight zoonotic disease is projected to witness a significant surge in demand during the forecast period.

Market Dynamics

Growing number of livestock animals in developing regions such as Asia, Africa, and Latin America is rising the demand for veterinary vaccines to ensure quality supply of animal food, further driving the market growth. In developing countries, the market is largely driven by the rising adoption of animal husbandry.

Animal products contribute significantly to the country’s economic growth. For instance, India has the largest dairy herds (comprised of cows and buffaloes) across the globe and stands first in terms of milk production, with 112.5 million tons of milk produced during 2009–2010. India is also the third-largest egg producer in the world, producing over 180 million eggs per day or 65.7 billion eggs for the year 2011–12. Hence, the growing importance of animal products and increasing awareness regarding safe animal healthcare practices drives market growth.

Segmental Analysis

Live Attenuation to be the Oldest Procedure to Develop Veterinary Vaccines

The attenuated live vaccine segment held the largest market share in 2018 and is projected to continue the same during the forecast period. Live attenuation is the oldest procedure used to develop intramuscularly administered protein subunit vaccines for swine in order to increase its lifespan. The vaccine is extensively used for treating infection in lamb and sheep caused by ecthyma.

Rising need for the development of advanced, safer, and effective products is increasing the R&D investments by leading players. The DNA vaccines segment, on the other hand, is projected to witness lucrative growth during the forecast period. These vaccines are effective and have the capability to deliver equivalent responses to the live attenuated vaccines. Additionally, DNA vaccines are showing results in high maternal antibodies titers.  

Intensively Reared Animals to be Highly Susceptible to Umpteen Animal Diseases

The ruminants segment holds the largest share in the veterinary vaccines market on account of rising livestock population, supportive government initiatives, and increasing prevalence of animal diseases, such as Enzootic Bronchopneu, Infectious Bovine Rhinotracheitis (IBR), and foot and mouth disease (FMD). Intensively reared animals are highly susceptible to these diseases compared to traditional breeds. 

Rising Awareness Regarding Several Life-Threatening Diseases among Companion Animals to Prompt the Need for Effective Vaccinations

The companion animal segment is projected to exhibit the fastest growth during the forecast period. Increasing pet population, coupled with rising health awareness, drives the segment growth. The adoption of vaccination against common life-threatening diseases such as canine distemper, parvovirus, rabies, and other canine viral diseases fosters the market growth.  High demand for efficient monitoring along with rising awareness about epidemiology and pathogenesis of diseases in companion animals has urged umpteen organizations, such as Companion Animal Parasite Council and European Scientific Counsel Companion Animal Parasites, to establish several vaccination programs.

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.

Regional Analysis

Rising Awareness Regarding Animal Health to Drive North America’s Market Growth

North America dominates the veterinary vaccines market on account of the rising adoption of veterinary vaccines due to the increasing incidence of canine disorders and growing pet population. Canada’s veterinary vaccines market is projected to grow at a significant rate on account of rising government initiatives to promote veterinary health. For instance, the Canadian Animal Health Institute (CAHI) is working with veterinarians, farmers, pet owners, and the government to provide safe and efficacious animal health products.

Improvement in Animal Husbandry Practices to Drive Veterinary Vaccines Market

Europe is projected to be the second-largest market for veterinary vaccines on account of rising production of veterinary products, improving animal husbandry practices, and increasing pet population. Government initiatives to improve animal health provides an impetus to the regional market growth. For instance, in May 2016, Vac2Vac, a collaborative research project, was funded by the Innovative Medicines Initiative of the European Commission to develop and validate quality testing approaches for veterinary vaccines.

India to Have the World’s Largest Animal Husbandry Sector

Asia-Pacific’s veterinary vaccines market is projected to exhibit the fastest growth during the forecast period. Government initiatives, increasing R&D investments by leading market players, and rising attempts to commercialize veterinary pharmaceuticals and inoculations drives the regional market growth. As per the National Dairy Development Board, in India, the cattle population was estimated at 156.7 million in 2017. The country has one of the largest animal husbandry sectors in the world, along with the largest livestock population of about 520.6 million. Thus, increasing number of farm animals and growing technological advancements in animal healthcare drives the regional market growth.

Recent Developments

• In January 2019, Boehringer Ingelheim International GmbH launched a commercial biologics manufacturing unit in China and its first swine vaccine, Ingelvac ® PRRS MLV
• In September 2018, Merck Animal Health launched the PRIME PAC PRRS RR vaccine for the treatment of porcine reproductive and respiratory syndrome virus (PRRS)

Veterinary Vaccines Market Segmentation

By Product

• Attenuated Live Vaccines
• Inactivated Vaccines
• Subunit Vaccines
• DNA Vaccines
• Recombinant Vaccines

By Animal Type

• Poultry
• Aqua
• Ruminants
• Companion Animals

By Region

• North America
• Europe
• Asia-Pacific
• South America
• The Middle East and Africa