Veterinary Vaccines Market Size, Share, Opportunities, And Trends By Animal (Livestock, Companion Animals), By Type (Live, Attenuated Vaccine, Inactivated/Killed Vaccine, Toxoid (Inactive Toxin) Vaccine, Subunit/Conjugate Vaccine), By Route Of Administration (Oral, Parental, Others), And By Geography - Forecasts From 2023 To 2028

The veterinary vaccines market is projected to grow at a CAGR of 6.89% over the forecast period and will reach a market size of US$12.055 billion in 2028 from an initial value of US$7.563 billion in 2021.

Veterinary vaccines are essential in the veterinary healthcare industry as they prevent disease transmission and limit the possibility of pet & farm animals infecting their owners. Live attenuated, inactive, recombinant, and other vaccines are among the various kinds of vaccines used to immunize companion animals and cattle and parenteral administration of vaccines is the most preferred method of administration.

Further, the market is also growing significantly due to the growing global pet adoption rates which has simultaneously increased pet care expenditures. For instance, in the United States, the proportion of households with dogs rose from 38% to 45% between 2016 and 2020, but by 2022, it had stabilized. Conversely, cats are growing in popularity these days. Between 2016 and 2020, the proportion of households with at least one cat went from 25% to 26%, and then to 29% in 2022.

Rising cases of zoonotic diseases

Throughout the forecast period, the growing prevalence of zoonotic diseases is anticipated to fuel demand for veterinary vaccines and accelerate market growth. Animals are carriers of pathogenic microorganisms, including bacteria, viruses, parasites, and fungi, which can cause serious illness. Clinical effects of zoonotic diseases can range from mild to severe and occasionally fatal. Worldwide, zoonotic diseases are very common. The Centers for Disease Control (CDC) estimates that animals are the source of over six out of ten infectious diseases that currently affect humans and also, they cause three out of every four newly emerging or emerging infectious diseases affecting humans.

As per the World Health Organization, Up to 75% of newly discovered or emerging infectious diseases (EIDs) and 60% of known infectious diseases have zoonotic origins. Worldwide, zoonoses cause 2.7 million human fatalities and 2.5 billion cases of illness in people each year.

Moreover, the most common zoonosis to be reported is campylobacteriosis, with 127,840 cases reported in 2021, up from 120,946 in 2020. The most popular source was turkey and chicken meat. Also, salmonellosis was the second most common with 60,050 cases reported in 2021 as compared to 52,702 cases. The next most often reported illnesses were listeriosis (2,183 cases), shigatoxin-producing E. coli infections (6,084 cases), and yersiniosis (6,789 cases).  

Additionally, during the projected period, the government's initiatives to address animal virus outbreaks have aided in the growth of the veterinary vaccines market. For example, the Indian Ministry of Agriculture and Farmers Welfare declared in June 2022 the availability of animal vaccines and kits that were created by the ICAR-NRC for horses. The “Ancovax Vaccine” is designed to neutralize the Omicron and Delta variant of SARS-CoV-2. 

The Indian veterinary vaccines market is projected to grow steadily. 

The veterinary vaccines market in India has experienced significant growth in recent years, driven by various factors that underscore the nation's increasing focus on animal health and welfare. One of the primary drivers of this expansion is the rising demand for livestock products, including meat and dairy, as a result of India's burgeoning population and changing dietary patterns. According to the report published by the National Library of Medicine, the surge in meat consumption is a notable trend in India, where agriculture stands as the cornerstone of the economy for a significant majority. Livestock assumes a pivotal role in this agricultural landscape, with poultry and dairy emerging as major sectors driving economic development. Fish, bovine, mutton, goat, pig, and poultry collectively constitute the primary sources of meat consumption across the nation. The significance of these sectors is underscored by their substantial contributions to the overall economic fabric of India, further emphasizing the interconnectedness of agriculture, livestock, and the burgeoning demand for meat products.

A key factor contributing to the growth of the veterinary vaccines market is the increasing awareness among farmers and animal owners regarding the importance of preventing infectious diseases in animals. As a result, there has been a notable shift from traditional treatment methods to preventive measures, with vaccination emerging as a crucial aspect of livestock management practices. This shift is particularly evident in the poultry and dairy sectors, where farmers are recognizing the economic benefits of maintaining healthy animal populations through vaccination.

In this regard, according to the data mentioned by the India Brand Equity Foundation, India's latest Livestock Census in 2020 reported a staggering 535 million in total livestock population. The Indian animal healthcare (AH) market, constituting 2.5% of the global AH market by value and volume, sees a composition of 51% from livestock, 35% from poultry, 8% from companion animals, 5% from aquaculture, and 1% from other animals as of 2023. Notably, vaccines for Peste des petits ruminants (PPR), Brucella, and Foot and Mouth Disease (FMD) are highly sought-after. The market's expansion is propelled by the escalating demand for animal products and a growing affinity for companion animals. Government initiatives, particularly the 'National Animal Disease Control Programme,' further fuel the robust growth projections for animal vaccinations in India.

Market Key Developments

Zoetis introduced the Poulvac Procerta HVT-IBD vaccine in January 2021 to protect poultry against Infectious Bursal Disease (IBD). This expanded the range of recombinant vector vaccines offered by the company.

Segmentation:

• By Animal
  • Livestock
  • Companion Animals
• By Type
  • Live, Attenuated Vaccines
  • Inactivated/Killed Vaccines
  • Toxoid (Inactive Toxin) Vaccines
  • Subunit/Conjugate Vaccines
• By Route of Administration
  • Oral
  • Parental
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • Thailand
    • Taiwan
    • Indonesia
    • Others

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1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY

2.1. Research Design

2.2. Research Data

2.3. Validation

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. VETERINARY VACCINE MARKET BY ANIMAL

5.1. Introduction

5.2. Livestock

5.3. Companion Animals

6. VETERINARY VACCINE MARKET BY TYPE

6.1. Introduction

6.2. Live, Attenuated Vaccines

6.3. Inactivated/Killed Vaccines

6.4. Toxoid (Inactive Toxin) Vaccines

6.5. Subunit/Conjugate Vaccines

7. VETERINARY VACCINE MARKET BY ROUTE OF ADMINISTRATION 

7.1. Introduction

7.2. Oral

7.3. Parental

7.4. Others

8. VETERINARY VACCINE MARKET BY GEOGRAPHY

8.1. Introduction

8.2. North America

8.2.1. By Animal

8.2.2. By Type

8.2.3. By Route of Administration

8.2.4. By Country

8.2.4.1. United States

8.2.4.2. Canada

8.2.4.3. Mexico

8.3. South America

8.3.1. By Animal

8.3.2. By Type 

8.3.3. By Route of Administration

8.3.4. By Country

8.3.4.1. Brazil

8.3.4.2. Argentina

8.3.4.3. Others

8.4. Europe

8.4.1. By Animal

8.4.2. By Type

8.4.3. By Route of Administration

8.4.4. By Country

8.4.4.1. Germany

8.4.4.2. France

8.4.4.3. United Kingdom

8.4.4.4. Spain

8.4.4.5. Others

8.5. Middle East and Africa

8.5.1. By Animal

8.5.2. By Type

8.5.3. By Route of Administration

8.5.4. By Country

8.5.4.1. Saudi Arabia

8.5.4.2. Israel

8.5.4.3. Others

8.6. Asia Pacific

8.6.1. By Animal 

8.6.2. By Type

8.6.3. By Route of Administration

8.6.4. By Country

8.6.4.1. China

8.6.4.2. Japan

8.6.4.3. India

8.6.4.4. South Korea

8.6.4.5. Others

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Market Share Analysis

9.3. Mergers, Acquisition, Agreements, and Collaborations

10. COMPANY PROFILES

10.1. Elanco

10.2. Zoetis

10.3. Ceva

10.4. Merck Animal Health

10.5. Phibro Animal Health Corporation

10.6. Virbac Animal Health (Virbac)

10.7. Hester Bioscience Limited

10.8. Hipra

10.9. Boehringer Ingelheim International GmbH

Elanco

Zoetis

Ceva

Merck Animal Health

Phibro Animal Health Corporation

Virbac Animal Health (Virbac)

Hester Bioscience Limited

Hipra

Boehringer Ingelheim International GmbH