Veterinary Vaccine Market Size to Reach USD 13,681.4 Million in 2030| Emergen Research

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Jan 04, 2023, 09:30 ET

VANCOUVER, B.C., Jan. 4, 2023 /PRNewswire/ -- The veterinary vaccine market size reached USD 7,975.3 Million in 2021 and is expected to register a CAGR of 6.2% during the forecast period, according to latest analysis by Emergen Research. Increasing adoption of pets, rising prevalence of zoonotic diseases, and surging cases of COVID-19 are some key factors driving veterinary vaccine market revenue growth.

Government organizations and animal associations are taking initiatives in investing in veterinary vaccines. Rising government initiatives and research activities are also increasing market growth. For instance, on 24 February 2022, the Government of Canada announced an investment to help to create more spaces for students in the University of Calgary Veterinary Medicine (UCVM) program in order to address the emergency shortage of veterinary professionals in the province.

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According to the report, it was stated that USD 59 million has been allocated to the provincial budget for 2022 to increase the Doctor of Veterinary Medicine (DVM) program. Additionally, over the last century, increasing adoption of pets, as well aa s variety of zoonotic disease outbreaks, have increased dramatically, which has led to a rise in demand for the veterinary vaccine. According to publicly available data from the American Society for the Prevention of Cruelty to Animals, 6.5 million dogs, cats, and other former pets are abandoned or lost each year and end up in shelters.

However, only 3.2 million of these animals are adopted, and many return to shelters after less than a year. Human Society stated that approximately 85 million families own pets, with 28% of dogs and 31% of cats adopted from shelters each year. As a result, these factors are rising the demand for this market.

Drivers:

The number and variety of zoonotic disease outbreaks have increased dramatically over the last century, leading to an increase in global demand for veterinary vaccines. According to National Center for Biotechnology Information, zoonotic diseases account for 60% of all new infectious diseases in humans. In the US, millions of households have one or more pets. Animals may come into contact with human while traveling, visiting animal exhibits, engaging in outdoor activities, or in urban or rural settings. In the United States and throughout the world, zoonotic diseases are very prevalent.

According to the Centers for Disease Control and Prevention, 3 of each 4 new or emerging infectious diseases in humans and more than 6 out of every 10 known infectious diseases in humans can be transmitted from animals. As a result, the CDC works round-the-clock to safeguard people in both the United States and other countries from zoonotic diseases. As a result, prevalence of this diseases are driving the demand for veterinary vaccines and accelerating the market's revenue growth.

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Restraints:

There are some issues and difficulties facing the veterinary vaccine industry. One of the significant challenges hindering the growth of this industry is the side effects related to vaccination. There is always some risk involved with veterinary procedures and vaccinations. Vaccination protects cats and dogs from severe and common conditions and diseases. According to the report, for every 10,000 cats who receive a vaccination, 1-10 will suffer a serious side effect, and for every 10,000 dogs, 13 are predicted to experience a reaction.

the most frequent side effects that cats and dogs encounter, including lethargy, a slight fever, localized swelling, and cold and flu symptoms. The most serious allergic reaction that cats and dogs can experience after receiving vaccinations is anaphylaxis. Pets usually experience anaphylaxis very soon after receiving a vaccination. As a result, these side effects are hindering the growth of veterinary vaccine market.

Growth Projections:

The veterinary vaccine market is expected to register a CAGR of 6.2% over the forecast period and revenue is projected to increase from USD 7,975.3 Million in 2021 to USD 13,681.4 Million in 2030. Increasing spending in emerging markets is expected to support revenue growth of the market.

Current Trends and Innovations:

The veterinary vaccine industry is undergoing gradual changes during the forecast period. The development of live-attenuated and inactivated vaccines has improved food security, increased livestock productivity, and decreased the morbidity and mortality of numerous human, animal, and zoonotic diseases. The frequency of newly emerging infectious diseases keeps rising, necessitating the rapid introduction of new vaccines.

In the past three decades, veterinary medicine has taken the lead in developing novel vaccines to get around some of the drawbacks of conventional vaccines. These third-generation vaccines, which include recombinant viral-vector, DNA, and RNA vaccines, induce an immune response on the humoral and cellular levels, are produced affordably, are safe to use, and can be used to distinguish infected from vaccinated animals.

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Strategic Initiatives:

Major companies included in the market report are Indian Immunologicals Ltd., Merck & Co., Inc., Ceva., Zoetis, Eli Lilly and Company, Boehringer Ingelheim International GmbH., Phibro Animal Health Corporation., Neogen Corporation., Brilliant Bio Pharma, Elanco.

On 10 March 2021, Zoetis Inc. announced its long-term sustainability goals, which enlarge the company's mission to nurture the world and humankind by advancing animal care. Zoetis draws its specific commitments to Communities, Animals, and the Planet under the banner Driven to Care, including support for 10 of the 17 United Nations Sustainable Development Goals (SDGs). Zoetis has the global reach and skills to support a healthier, more sustainable future for all, with operations in 45 countries.

Scope of Research

Report Details	Outcome
Market Size in 2021	USD 7,975.3 Million
CAGR (2022–2030)	6.2 %
Revenue Forecast to 2030	USD 13,681.4 Million
Base Year for Estimation	2021
Historical Data	2019–2020
Forecast Period	2022–2030
Quantitative Units	Revenue in USD Million and CAGR in % from 2022 to 2030
Report Coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered	Disease type, animal type, administration route, technology, and region
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope	U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled	Indian Immunologicals Ltd., Merck & Co., Inc., Ceva., Zoetis, Eli Lilly and Company, Boehringer Ingelheim International GmbH., Phibro Animal Health Corporation., Neogen Corporation., Brilliant Bio Pharma, and Elanco
Customization Scope	10 hours of free customization and expert consultation

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Emergen Research has segmented veterinary vaccine market on the basis of disease type, animal type, administration route, technology, and region:

Disease Type Outlook (Revenue, USD Million; 2019-2030)

Avian Influenza
Rabies coccidiosis
Brucellosis
Canine distemper
Swine pneumonia

Animal Type Outlook (Revenue, USD Million; 2019-2030)

Livestock

Poultry
Cattle
Others (horses, goat, camel and others).

Companion

Cats
Dogs

Aquacultures
Others

Administration Route Outlook (Revenue, USD Million; 2019-2030)

Oral
Injection
Spray

Technology Outlook (Revenue, USD Million; 2019-2030)

Live attenuated vaccine
Inactivated vaccine
Recombinant

Regional Outlook (Revenue, USD Million, 2019 - 2030)

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
Japan
South Korea
India
Australia
Rest of APAC

Latin America

Brazil
Mexico
Rest of LATAM

Middle East & Africa

UAE
Saudi Arabia
Africa
Rest of Middle East

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