Global Veterinary Vaccines Market 2023-2029: Merck & Co. Dominates the Competition, Closely Followed by Boehringer Ingelheim, Ceva Sante Animale, and Zoetis

News provided by

Aug 23, 2023, 05:45 ET

DUBLIN, Aug. 23, 2023 The "Global Veterinary Vaccines Market 2023-2029" report has been added to ResearchAndMarkets.com's offering.

The global veterinary vaccines market is expected to experience significant growth, reaching a value of $11.6 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 5.8% during the forecast period. The market's expansion is driven by various factors, including the rising demand for animal-derived foods, the increasing adoption of companion animals, and the growing awareness of preventive healthcare for animals.

Companion animal vaccines are projected to account for approximately 1/5th of the market share by 2029. With younger pets being susceptible to certain infectious infections and older animals needing booster shots, there is a continuous demand for vaccines to ensure the well-being of pets. A report published in 2023 revealed that 53% of UK adults owned a pet, with dogs, cats, and rabbits being the most common. This trend is indicative of the increasing importance of companion animal vaccines.

To maintain a competitive edge and meet changing demands, market participants are employing various strategies, such as acquisitions and partnerships. For example, NEOGEN Corporation's acquisition of CAPInnoVet, Inc. granted the former a pathway into the parasiticide market, while Ceva Sante Animale's acquisition of Zoovet and Biotecnofe expanded its access to a modern biotechnology facility.

In terms of market competition, Merck & Co., Inc. emerged as a forerunner in the market, closely followed by companies like Boehringer Ingelheim International GmbH, Ceva Sante Animale, and Zoetis Inc.

The report covers a comprehensive analysis of the market, including segments based on type, technology, distribution channel, and route of administration. The porcine vaccines segment holds a substantial revenue share, while live attenuated vaccines are the most preferred technology due to their strong immune response. Veterinary clinics are the dominant distribution channel, as they offer preventive health care plans and consultations to pet owners.

Geographically, the Asia Pacific region leads the market, driven by the increasing population of companion animals and the expansion of major players in the region. As animal-based products' demand rises, particularly in China and India, the livestock industry is expected to experience significant expansion, leading to an increased need for veterinary vaccines.

The report provides valuable market information to executives and stakeholders, enabling them to make informed decisions. It covers the competitive landscape, key strategies, and recent developments in the market, and also analyzes key stakeholders and the regulatory framework affecting the veterinary vaccines market.

Recent Strategies Deployed in the Market

Partnerships, Collaborations and Agreements

Feb-2023: Boehringer Ingelheim Animal Health USA Inc. joined hands with Alizent, a subsidiary of Air Liquide. Following this collaboration, the companies aim to implement an advanced cold chain tracking solution to improve poultry vaccine supply chain management.
Aug-2022: Merck Animal Health, a division of Merck & Co., Inc., teamed up with Iowa State University, a public land-grant research university. This collaboration would be a public-private partnership that addresses complex requirements and expedites the delivery of animal health solutions to the industry.

Product Launches and Expansions

Sep-2022: Boehringer Ingelheim Animal Health introduced Fencovis, a new calf sour vaccine with a prevention claim, offering unresistant immunity to calves through the cows' maternal colostrum. With Fencovis, a prevention claim against E. coli F5 and bovine rotavirus, Boehringer Ingelheim Animal Health offers a holistic lean approach to cattle farming through its support and training services.
Sep-2022: Merck Animal Health unveiled Bordetella bronchiseptica and canine parainfluenza, an oral virus vaccine. The launched product is thimerosal-free and contains no preservatives, and it serves veterinarians and support staff the capacity to deliver clients dial protection against 2 major respiratory pathogens.
Jul-2022: Virbac launched TENOTRYL (enrofloxacin), an injectable solution for use in swine and cattle. This launch aims to serve veterinarians and customers, swine and cattle producers, and also a suite of new alternatives to improve the health of livestock and finally their profitability.
Mar-2022: Ceva announced the launch of the sow vaccine, a vaccine comprising 7 antigens against the major pathogens consisting of three infectious diseases. The vaccine launched is against Neonatal diarrhoea, a common disease on a pig farm.

Acquisitions, Mergers and Joint Ventures

Dec-2022: Ceva Sante Animale took over Zoovet, a company specializing in the production and marketing of animal health products, and Biotecnofe, a biotech company engaged in the development of innovative products. This acquisition would deliver access to a modern biotechnology facility. The facility would strengthen Ceva's activities in Latin America to aid pharmaceutical innovation.
Sep-2022: Zoetis, Inc. took over Jurox, a provider of livestock and Companion Animal products. Through this acquisition, Jurox brings Zoetis a spectrum of key products primed for larger global expansion, a valuable animal health suite, consisting of Alfaxan, an anaesthetic product for companion animals.
Jul-2022: Zoetis completed the acquisition of Fish Vet Group from Benchmark Holdings PLC, a leading bioagtech company. Following this acquisition, Fish Vet Group would be a strategic addition to Zoetis' Pharmaq business which develops and sells fish vaccines and provides services in diagnostics and vaccination for aquaculture.
May-2022: Ceva Sante Animale acquired Artemis Technologies, Inc., the Canadian rabies vaccine manufacturer. Following this acquisition, Ceva aims to broaden its effort in wildlife disease management and broaden its presence in the segment to North America.
Apr-2022: Ceva Sante Animale signed an agreement with Mitsui & Co., Ltd., a Japan-based investment, and trading company to form Ceva Bussan Animal Health K.K. This Joint venture aims to boost the broadening of the veterinary laboratory to Japan, a critical market for the business.

Key Topics Covered

Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. Global Veterinary Vaccines Market by Route of Administration
Chapter 5. Global Veterinary Vaccines Market by Type
Chapter 6. Global Veterinary Vaccines Market by Technology
Chapter 7. Global Veterinary Vaccines Market by Distribution Channel
Chapter 8. Global Veterinary Vaccines Market by Region
Chapter 9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/qg5ogn

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets