USD 11.68 billion
Report ID: SQMIG35B2059 | Region: Global | Published Date: October, 2022 | Pages: 200 | Tables: 67 | Figures: 75
Animal Vaccines Market size was valued at USD 11.68 billion in 2021 and is poised to grow from USD 12.8 billion in 2022 to USD 26.12 billion by 2030, growing at a CAGR of 9.4% in the forecast period (2023-2030).
Increased outbreaks of animal disease and an ever-increasing livestock population are the primary reasons for the wider acceptance of ruminant vaccines, particularly cattle vaccines, around the world. Meat, protein, food, milk, and other commercial products such as wool and leather are all obtained from animals.Rabies vaccines, equine influenza virus vaccines, and foot and mouth disease vaccines are the most commonly used animal vaccines, which prevent the transmission of infectious agents by mimicking naturally immune defense.
Growing concerns about food security, as well as increased animal husbandry, are driving up demand for livestock vaccines. Globally, increased demand for animal products has resulted in increased livestock production. Moreover, various factors such as changing food preferences as a result of changing lifestyles and population growth are driving up demand for livestock products.These factors are assisting the market expansion. The constant introduction of technologically advanced vaccines, as well as the outbreak of livestock diseases, have all contributed to changing market dynamics.
US Animal Vaccines Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 11.68 billion
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The global animal vaccines market is segmented based on type, animal type and region. Based on type, Animal Vaccines Market is categorized into attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, recombinant vaccines, and DNA vaccines. Based on animal type, Animal Vaccines Market is categorized into companion animal, livestock animal, and aquaculture. Based on region, Animal Vaccines Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Animal Vaccines Market Analysis by Type
In 2021, the attenuated live vaccines segment dominated the animal vaccines market, with a revenue share of over 36.76%. By activating a wide range of immune responses, attenuated vaccines can provide stronger immunity than other vaccines. Furthermore, it helps to reduce the need for booster vaccines that can be given orally and induces long-lasting and rapid immunity, all of which contribute to the growth of the animal vaccines market. In the veterinary field, live attenuation is the oldest vaccination method. This method is also being tested for the creation of new applications. The development of protein subunit vaccines for swine that are administered intramuscularly is one of these alternatives.
Animal Vaccines Market Analysis by Animal Type
In 2021, the livestock segment dominated the market, accounting for more than 70% of total revenue. Factors such as rising livestock populations, supportive government initiatives, and disease outbreaks among cattle and sheep can all be blamed for this. Merck & Co., Inc. has developed vaccines to prevent E. coli, including Aviguard and Nobilis E. coli inac. According to SQ study, Coli prevalence rates in various cattle categories (feedlot cattle, cattle on irrigated pasture, cattle at slaughter, and cattle grazing rangeland forages) range from 0.2% to 27.8%.
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North America dominated the global market, accounting for more than 27.5% of revenue in 2021. Throughout the forecast period, the region is expected to maintain its dominant position. This large proportion can be attributed to the high prevalence of livestock and zoonotic diseases, which result in mass animal deaths. Furthermore, the large presence of well-established pharmaceutical firms that are consistently striving for broad commercialization of their vaccines and expanding their geographic reach is expected to drive market growth. Furthermore, rising incidence of canine disorders, which is increasing the adoption of vaccination for the same, and rising pet population in the United States are some of the key factors contributing to the regional market expansion.
The Asia Pacific region is expected to witness fastest growth in the global animal vaccines market. Pet adoption is on the rise, major vaccination players are expanding, product availability is rising, and manufacturing facilities are being invested in across the Asia Pacific, particularly in India, China, and Thailand, boosting market growth.
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Animal Vaccines Market Driver
Animal Vaccines Market Restraint
● In developing countries of Africa, Asia, and Latin America, it is estimated that there are 600-900 million smallholder farmers who own livestock. Animal vaccination adoption among these smallholder farmers is limited due to a variety of factors, including lack of awareness about the benefits, limited accessibility as they cannot afford the cost of the immunization products and dearth of availability due to a weak supply chain. A significant number of livestock animals owned by smallholder farmers die as a result of various diseases, putting them under additional economic strain. Various strategies are being adopted by governments and agencies to improve the adoption of animal immunization among smallholder farmers by increasing accessibility, availability, and affordability.
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In terms of the competitive landscape, a few companies have dominated this market due to their strong product portfolios and key strategic decisions. These include 4-5 veterinary vaccine manufacturers with ongoing research and development for new product approvals and a broad geographical presence. The emphasis on inorganic strategies, such as Elanco's acquisition of Bayer's Animal Health division, is expected to further consolidate the major revenue share. With the presence of numerous small and large animal vaccine manufacturers. The rapid adoption of veterinary preventive injections, combined with government-aided bulk purchase of veterinary vaccines, are key factors influencing competition. Furthermore, to maintain market share and diversify product portfolios, major players frequently pursue strategies such as mergers and acquisitions, partnerships, and new product launches.
Top Players in the Global Animal Vaccines Market
· In June 2021, Merck Animal Health and Automazioni VX, Inc. have formed a partnership. The primary objective of this partnership was to introduce Innoject Pro, a new subcutaneous chick vaccination technology. The technology will be used in combination with Merck Animal Health's Innovax vaccines, which are designed to protect poultry from infectious diseases.
· In June 2021, The United Kingdom announced the start of a U.K. Animal Vaccine Manufacturing and Innovation Centre in Surrey, to speed up the development of livestock vaccines and control the spread of viral diseases such as coronavirus.
· In November 2020, the virtual launch of GUMBOHATCH's new generation Infectious Bursal Disease immune complex immunization product for broiler chickens was announced by HIPRA Indonesia.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, increased commercial food animal production has resulted from increased demand for animal protein. Emerging zoonotic diseases in companion and livestock animals pose a significant risk to public health. The world will inevitably continue to experience emerging disease outbreaks in the coming decades. Therefore, animal vaccines can play a crucial role in controlling emerging diseases.
|Market size value in 2021||USD 11.68 billion|
|Market size value in 2030||USD 12.8 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Animal Vaccines Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Animal Vaccines Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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