Global Veterinary Vaccines Market

Veterinary Vaccines Market Size, Share, Growth Analysis, By Disease(Livestock Diseases [Foot and Mouth Disease (FMDV serotype A, FMDV serotype O, FMDV serotype C, FMDV serotype SAT1), By Technology(Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Subunit), By Type(Livestock vaccines, Poultry vaccines, Companion Animal vaccines, Equine vaccines), By Route of Administration(Injection Vaccines, Oral Vaccines, Intranasal/Spray Vaccines), By Distribution Channel(Veterinary Hospitals, Veterinary Clinics, Retail Pharmacies.), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35I2239 | Region: Global | Published Date: June, 2024
Pages: 219 |Tables: 237 |Figures: 78

Veterinary Vaccines Market Insights

Global Veterinary Vaccines Market size was valued at USD 10.85 billion in 2022 and is Poised to grow from USD 11.50 billion in 2023 and to USD 18.33 billion by 2031, at a CAGR of 6% during the forecast period (2024–2031).

The escalating prevalence of zoonotic diseases is expected to drive the demand for animal vaccines as they pose a threat to both animal and human health, compromising food security. The population growth of both humans and animals, coupled with environmental degradation and globalized trade and travel, increase the transmission of pathogens among species. The need for animal protein has resulted in amplified commercial food animal production, leading to the emergence of zoonotic diseases in both livestock and companion animals, posing a significant risk to public health. The control of emerging diseases requires the use of animal vaccines, which are vital in mitigating the impact of these diseases. As such, animal vaccines will continue to play a critical role in controlling emerging diseases in the coming years.

US Veterinary Vaccines Market is poised to grow at sustainable CAGR for the next forecast year.

Market Snapshot - 2024–2031

Global Market Size

USD 10.85 billion

Largest Segment

Veterinary Clinics

Fastest Growth

Veterinary Clinics

Growth Rate

6% CAGR

Global Veterinary vaccines Market 2024-2031 ($ Bn)
Country Share for North America Region- 2024 (%)

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Veterinary Vaccines Market Segmental Analysis

Global Veterinary vaccines Market is segmented based on Disease, Technology, Type, Route of Administration, Distribution Channel, and region. Based on Disease the market is segmented into Livestock Diseases, Poultry Diseases, Companion Animal Diseases, Equine Diseases, Aquaculture Diseases. Based on Technology the market is segmented into Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Subunit, Recombinant, and Conjugate Vaccines, DNA Vaccines, Vectored Vaccines. Based on Type the market is segmented into Livestock vaccines, Poultry vaccines, Companion Animal vaccines, Equine vaccines, Aquaculture vaccines. Based on Route of Administration the market is segmented into Injection Vaccines, Oral Vaccines, Intranasal/Spray Vaccines. Based on Distribution Channel the market is segmented into Veterinary Hospitals, Veterinary Clinics, Retail Pharmacies. Based on region the global Veterinary vaccines Market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Veterinary Vaccines Market Analysis by Distribution Channel

In 2022, the veterinary clinics segment dominated the global veterinary vaccines market due to its accessibility to pet owners, especially in rural areas where access to larger veterinary hospitals may be limited. In many cases, veterinary clinics are often the first choice for pet owners who are seeking basic health care services for their animals. As such, the veterinary clinics segment is considered the most significant and lucrative channel for animal vaccines.

The veterinary hospital segment is the second most dominant segment, as it offers more advanced care facilities for animals that require specialized treatment. This segment often caters to animals with more complicated health issues, such as those that require hospitalization and surgery.

The pharmacies & drug stores segment is expected to grow, as there is an increasing trend of pet owners purchasing veterinary vaccines online. These institutions often support this trend by offering convenient access to veterinary vaccines and related products. As a result, this segment is anticipated to experience revenue growth opportunities in the animal vaccine market.

Global Veterinary vaccines Market By Distribution Channel, 2024 (%), 2022 (%)

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Veterinary Vaccines Market Regional Insights

The North American region dominated the global veterinary vaccines market in 2022, accounting for over 25% of the market revenue. The region is expected to maintain its dominance during the forecast period due to the high prevalence of zoonotic and livestock diseases resulting in significant animal deaths. The presence of well-established pharmaceutical companies in the region, with a focus on expanding their commercialization and geographical reach, is expected to drive market growth. Additionally, the rising incidence of canine disorders and the growing pet population in the United States are also contributing to the expansion of the regional market.

On the other hand, the Asia-Pacific region is expected to register the highest growth rate during the forecast period. This is primarily due to the anticipated increase in livestock population and government initiatives in developing economies. For instance, India has a large cattle population of 192.5 million in 2019, which calls for a high demand for vaccines. Moreover, the market is being driven by high R&D expenditure by major players, combined with efforts to commercialize veterinary vaccines at affordable prices.

Global Veterinary vaccines Market By Geography, 2024-2031, 2024–2031
  • Largest
  • Fastest

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Veterinary Vaccines Market Dynamics

Veterinary Vaccines Market Drivers

  • Growing demand for livestock products is fueling the market growth: Growing demand for livestock products such as meat, dairy, and eggs is one of the major drivers fueling the growth of the global veterinary vaccines market. As the global population continues to grow, so does the demand for animal-based protein, which is driving the demand for livestock and, in turn, for veterinary vaccines. The rising demand for meat, in particular, is a major factor driving the growth of the veterinary vaccines market. Meat consumption is increasing worldwide, particularly in developing countries such as China, India, and Brazil. As per the report published by the Food and Agriculture Organization (FAO) of the United Nations, meat production is projected to increase by 13% between 2019 and 2030. However, livestock farming is also associated with a range of animal diseases that can affect animal health, productivity, and profitability. Vaccination is a key tool in preventing and controlling these diseases, and as the demand for livestock products increases, so does the demand for veterinary vaccines. In addition to meat, the demand for dairy and other animal-based products is also increasing, particularly in developing countries. As per the report by the Organization for Economic Cooperation and Development (OECD), global dairy consumption is expected to increase by 36% by 2030. This growth in demand is driving the need for more livestock, which in turn is driving the demand for veterinary vaccines.

Veterinary Vaccines Market Restraints

  • High cost of research and development is a significant challenge for the market: Developing new vaccines for emerging diseases can be a highly complex and expensive process. This is because each disease has unique characteristics and requires a specific approach to develop an effective vaccine. The cost of research and development (R&D) can be further increased by the need for extensive testing and regulatory approval. For instance, in the case of African Swine Fever (ASF), which is a highly contagious viral disease affecting pigs, there is no effective vaccine available yet. The World Organization for Animal Health (OIE) and various research organizations worldwide are making efforts to develop an effective vaccine, but the research is complex, time-consuming, and expensive. As per the report by USDA, the cost of developing an ASF vaccine could be between $25 million to $50 million USD and can take up to 5 to 10 years. Similarly, the development of a vaccine for Foot and Mouth Disease (FMD), another highly contagious viral disease affecting cloven-hoofed animals, can be an expensive process. According to a report by the UK's Department for Environment, Food, and Rural Affairs (DEFRA), the cost of developing an FMD vaccine can range from $20 million to $150 million USD, depending on the type of vaccine and the scale of production. Moreover, the cost of R&D is not limited to the development of new vaccines alone. The constant need for upgrading and improving existing vaccines to make them more effective and safer for animals is also a significant factor. For example, the development of newer and better adjuvants (substances that enhance the immune response to a vaccine) can require extensive research and development.

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Veterinary Vaccines Market Competitive Landscape

The global veterinary vaccines market is moderately consolidated, with a few major players dominating the market. However, there are also numerous smaller companies and new entrants that are striving to gain a foothold in the market. The market is dominated by a few major players such as Merck Animal Health, Zoetis, Boehringer Ingelheim, and Elanco, who collectively account for a significant share of the market. These companies have a strong presence in multiple regions and offer a wide range of products for both livestock and companion animals. However, there are also several smaller players and new entrants that are striving to expand their presence in the market. These companies are focusing on developing innovative products and solutions to cater to the evolving needs of the market. Many of these companies are also targeting emerging markets, which offer significant growth opportunities.

Top Player’s Company Profiles in Veterinary Vaccines Market

  • Elanco Animal Health
  • Virbac
  • Ceva Sante Animale
  • Hester Biosciences Limited
  • Phibro Animal Health Corporation
  • HIPRA
  • Indian immunologicals limited
  • Vetoquinol
  • Bayer Animal Health
  • Bimeda
  • Tianjin Ringpu Bio-technology Co. Ltd.
  • Biogenesis Bago
  • Neogen Corporation
  • Agrovet Market
  • Nisseiken
  • CZ Veterinaria
  • Harbin Veterinary Research Institute (HVRI)

Veterinary Vaccines Market Recent Developments

  • In November 2020, GUMBOHATCH launched a new generation immune complex immunization product for broiler chickens to protect against Infectious Bursal Disease, and the announcement was made virtually by HIPRA Indonesia.
  • In October 2020, In collaboration with Henke-Sass Wolf, Boehringer Ingelheim developed an innovative needle-free vaccine injection tool for pigs, which can be used from weaning until the end of their nursery stage.
  • In September 2020, Hester Biosciences Limited revealed the development of a Brucella vaccine, which can provide lifelong immunity to calves. Furthermore, the company has entered into an agreement with the Indian Veterinary Research Institute (IVRI) and the Indian Council of Agriculture Research (ICAR) to obtain the indigenous technology for producing the Brucella Abortus S19 Delta Per dose.

Veterinary Vaccines Key Market Trends

  • Increasing pet ownership and spending: As more households around the world become pet owners, the demand for veterinary vaccines is expected to rise. In 2022, approximately 90.5 million domesticated animals live in 70% of pet-owning households. This growing pet ownership trend is also being accompanied by an increase in pet spending, with owners willing to invest in preventative measures like vaccines to ensure the long-term health of their pets.
  • Growing awareness of zoonotic diseases: Zoonotic diseases are those that can be transmitted from animals to humans, such as rabies and avian influenza. With the ongoing COVID-19 pandemic, there has been a heightened awareness of the importance of preventing the spread of zoonotic diseases. This increased awareness is expected to drive demand for veterinary vaccines that can help prevent the spread of zoonotic diseases and protect both animal and human health.

Veterinary Vaccines Market SkyQuest Analysis

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 by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the global veterinary vaccines market is expected to continue its growth trajectory in the coming years due to increasing demand for animal health products and the rising prevalence of various animal diseases. The market is characterized by the presence of several established players, which have a strong presence in developed markets. However, there are also opportunities for new players to enter the market, particularly in emerging economies. Additionally, advances in biotechnology and genomics are expected to drive the development of more innovative and effective veterinary vaccines. The use of adjuvants, recombinant DNA technology, and genomics-based vaccines is expected to increase, which will likely drive growth in the market.

The major challenges faced by the veterinary vaccines market include stringent regulations, high cost of development, and the time-consuming process of vaccine development. The emergence of new diseases and increasing resistance to antibiotics also pose significant challenges to the market.

Overall, the veterinary vaccines market is expected to continue to grow in the coming years, driven by increasing demand for animal health products and advances in biotechnology.

Report Metric Details
Market size value in 2022 USD 10.85 billion
Market size value in 2031 USD 18.33 billion
Growth Rate 6%
Base year 2023
Forecast period 2024–2031
Forecast Unit (Value) USD Billion
Segments covered
  • Disease
    • Livestock Diseases [Foot and Mouth Disease (FMDV serotype A, FMDV serotype O, FMDV serotype C, FMDV serotype SAT1, FMDV serotype SAT2, FMDV serotype SAT3, FMDV serotype Asia1), Bovine Respiratory Syncytial Virus (BRSV-A, BRSV-B, BRSV-2), Bovine Viral Diarrhea (BVDV-1, BVDV-2), Brucellosis (Brucella abortus: Cattle, bison, and elk, Brucella melitensis: Goats and sheep, Brucella suis: Swine, Brucella canis: Dogs, Brucella ovis: Sheep, Brucella neotomae: Desert woodrats, Brucella pinnipedialis: Seals and sea lions, Brucella ceti: Cetaceans (whales, dolphins, and porpoises), Brucella microti: Voles), Leptospirosis (Leptospira interrogans serovar Lai, Leptospira interrogans serovar Canicola, Leptospira interrogans serovar Icterohaemorrhagiae, Leptospira interrogans serovar Pomona, Leptospira interrogans serovar Hardjo, Leptospira borgpetersenii serovar Ballum, Leptospira borgpetersenii serovar Tarassovi, Leptospira kirschneri serovar Grippotyphosa, Leptospira noguchii serovar Panama, Leptospira santarosai serovar Shermani), Blackleg (Clostridium chauvoei type A, Clostridium chauvoei type B, Clostridium chauvoei type C, Clostridium chauvoei type D), Porcine Circovirus (PCV1, PCV2, PCV3), Swine Influenza Virus (H1N1, H1N2, H2N3, H3N1, H3N2, H7N9)], Poultry Diseases [Avian Influenza (H5, H6, H7, H9, H10), Newcastle Disease (Velogenic viscerotropic Newcastle disease virus (VVNDV), Mesogenic Newcastle disease virus (MNDV), Lentogenic Newcastle disease virus (LNDV), Neurotropic velogenic Newcastle disease virus (NVVNDV), Asymptomatic enteric Newcastle disease virus (AENDV), Pigeon paramyxovirus type 1 (PPMV-1), Chicken Anhinga strain of Newcastle disease virus (CANNV)), Infectious Bronchitis (Massachusetts (Mass) strain, Connecticut (Conn) strain, Arkansas (Ark) strain, Georgia (GA) strain, Delaware (Del) strain, Florida (Fl) strain, D1466 strain, QX strain), Infectious Bursal Disease (Serotype 1, Serotype 2), Marek's Disease (Gallid herpesvirus 2 (serotype 1), Gallid herpesvirus 3 (serotype 2), Meleagrid herpesvirus 1 or herpesvirus of turkeys (HVT) (serotype 3)), Infectious Laryngotracheitis (Classical or virulent ILT strain (vILTV), Attenuated or mild ILT strain (mILTV), Recombinant ILT virus strains)], Companion Animal Diseases (Canine Distemper, Canine Parvovirus, Canine Adenovirus (Hepatitis), Feline Panleukopenia (Feline Distemper), Feline Rhinotracheitis (Feline Herpesvirus-1), Feline Calicivirus (FCV), Rabies), Equine Diseases (Equine Influenza Virus (EIV), Equine Herpesvirus (EHV), West Nile Virus (WNV)), Aquaculture Diseases (Salmonid Fish, Tilapia, Shrimp).
  • Technology
    • Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Subunit, Recombinant, and Conjugate Vaccines, DNA Vaccines, Vectored Vaccines.
  • Type
    • Livestock vaccines, Poultry vaccines, Companion Animal vaccines, Equine vaccines, Aquaculture vaccines.
  • Route of Administration
    • Injection Vaccines, Oral Vaccines, Intranasal/Spray Vaccines
  • Distribution Channel
    • Veterinary Hospitals, Veterinary Clinics, Retail Pharmacies.
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)
Companies covered
  • Elanco Animal Health
  • Virbac
  • Ceva Sante Animale
  • Hester Biosciences Limited
  • Phibro Animal Health Corporation
  • HIPRA
  • Indian immunologicals limited
  • Vetoquinol
  • Bayer Animal Health
  • Bimeda
  • Tianjin Ringpu Bio-technology Co. Ltd.
  • Biogenesis Bago
  • Neogen Corporation
  • Agrovet Market
  • Nisseiken
  • CZ Veterinaria
  • Harbin Veterinary Research Institute (HVRI)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Veterinary Vaccines Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Veterinary Vaccines Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Veterinary 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 Veterinary 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.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Veterinary Vaccines Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Veterinary Vaccines Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Veterinary Vaccines Market size was valued at USD 10.85 billion in 2022 and is Poised to grow from USD 11.50 billion in 2023 and to USD 18.33 billion by 2031, at a CAGR of 6% during the forecast period (2024–2031).

The veterinary vaccines market is moderately consolidated, with a few major players dominating the market. However, there are also numerous smaller companies and new entrants that are striving to gain a foothold in the market. The market is dominated by a few major players such as Merck Animal Health, Zoetis, Boehringer Ingelheim, and Elanco, who collectively account for a significant share of the market. These companies have a strong presence in multiple regions and offer a wide range of products for both livestock and companion animals. However, there are also several smaller players and new entrants that are striving to expand their presence in the market. These companies are focusing on developing innovative products and solutions to cater to the evolving needs of the market. Many of these companies are also targeting emerging markets, which offer significant growth opportunities. 'Zoetis', 'Merck Animal Health', 'Boehringer Ingelheim', 'Elanco Animal Health', 'Virbac', 'Ceva Sante Animale', 'Hester Biosciences Limited', 'Phibro Animal Health Corporation', 'HIPRA', 'Indian immunologicals limited', 'Vetoquinol', 'Bayer Animal Health', 'Bimeda', 'Tianjin Ringpu Bio-technology Co. Ltd.', 'Biogenesis Bago', 'Neogen Corporation', 'Agrovet Market', 'Nisseiken', 'CZ Veterinaria', 'Harbin Veterinary Research Institute (HVRI)'

Growing demand for livestock products is fueling the market growth: Growing demand for livestock products such as meat, dairy, and eggs is one of the major drivers fueling the growth of the veterinary vaccines market. As the population continues to grow, so does the demand for animal-based protein, which is driving the demand for livestock and, in turn, for veterinary vaccines. The rising demand for meat, in particular, is a major factor driving the growth of the veterinary vaccines market. Meat consumption is increasing worldwide, particularly in developing countries such as China, India, and Brazil. As per the report published by the Food and Agriculture Organization (FAO) of the United Nations, meat production is projected to increase by 13% between 2019 and 2030. However, livestock farming is also associated with a range of animal diseases that can affect animal health, productivity, and profitability. Vaccination is a key tool in preventing and controlling these diseases, and as the demand for livestock products increases, so does the demand for veterinary vaccines. In addition to meat, the demand for dairy and other animal-based products is also increasing, particularly in developing countries. As per the report by the Organization for Economic Cooperation and Development (OECD), dairy consumption is expected to increase by 36% by 2030. This growth in demand is driving the need for more livestock, which in turn is driving the demand for veterinary vaccines.

Increasing pet ownership and spending: As more households around the world become pet owners, the demand for veterinary vaccines is expected to rise. In 2022, approximately 90.5 million domesticated animals live in 70% of pet-owning households. This growing pet ownership trend is also being accompanied by an increase in pet spending, with owners willing to invest in preventative measures like vaccines to ensure the long-term health of their pets.

The North American region dominated the veterinary vaccines market in 2022, accounting for over 25% of the market revenue. The region is expected to maintain its dominance during the forecast period due to the high prevalence of zoonotic and livestock diseases resulting in significant animal deaths. The presence of well-established pharmaceutical companies in the region, with a focus on expanding their commercialization and geographical reach, is expected to drive market growth. Additionally, the rising incidence of canine disorders and the growing pet population in the United States are also contributing to the expansion of the regional market.

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Global Veterinary Vaccines Market

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