Veterinary Vaccines Market

Veterinary Vaccines Market by Type (Inactivated Veterinary Vaccines, Live-Attenuated Veterinary Vaccines, Subunit Veterinary Vaccines, Recombinant Veterinary Vaccines, and Viral Vector Veterinary Vaccines), Indication (Viral, Bacterial, and Others), Animal Group (Poultry, Livestock, Companion Animals, and Others), End-Users (Veterinary Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to increasing incidences of zoonotic diseases and growing focus on regular immunization schedule of animals

The veterinary vaccines market was valued to be USD 9.78 billion in 2023, and will grow at a CAGR of 9.13% during the forecast period from 2024 to 2030 to reach USD 16.47 billion by 2030. The veterinary vaccines market is experiencing significant growth, driven by several key factors. These include the increasing prevalence of zoonotic diseases, heightened concerns about antimicrobial resistance in animals, and the rising demand for safe and efficient food production. Additionally, the growing emphasis on reducing animal morbidity and mortality rates through regular immunization against preventable diseases is contributing to robust revenue expansion. These trends are expected to propel the veterinary vaccines market to appreciable growth during the forecast period 2024 to 2030.

Veterinary Vaccines Market Dynamics:

The veterinary vaccines market is witnessing robust growth due to several key drivers, including the rising prevalence of zoonotic diseases such as rabies, Zika virus, Ebola virus, and SARS-CoV. Rabies, a particularly fatal zoonotic disease, significantly contributes to market demand as it affects a wide range of animals, including dogs, cats, and humans. According to the American Veterinary Medical Association, the U.S. reported approximately 4,500 animal rabies cases in 2020, while the World Health Organization estimates over 29 million people globally receive post-bite rabies vaccinations annually, with dog-mediated rabies imposing an economic burden of USD 8.6 billion per year.

Vaccines such as Nobivac® Rabies have become crucial in addressing this issue by preventing rabies transmission and reducing associated fatalities. Additionally, the rising concern over antimicrobial resistance (AMR) caused by the misuse of antibiotics in veterinary medicine is driving demand for vaccines that protect animals against life-threatening diseases while reducing antibiotic dependence. Vaccines also address the risk of AMR transmission to humans through animal-derived food products, further solidifying their importance. Government initiatives, such as India’s National Animal Disease Control Programme targeting widespread immunization against Foot and Mouth Disease (FMD) and brucellosis, further bolster market growth.

However, challenges such as limited awareness and access to vaccines in certain regions, coupled with stringent regulatory frameworks, may hinder market expansion. Overall, the growing focus on animal health, food safety, and disease prevention is expected to drive significant progress in the veterinary vaccines market in the coming years.

Veterinary Vaccines Market Segment Analysis:

Veterinary Vaccines Market by Type (Inactivated Veterinary Vaccines, Live-Attenuated Veterinary Vaccines, Subunit Veterinary Vaccines, Recombinant Veterinary Vaccines, and Viral Vector Veterinary Vaccines), Indication (Viral, Bacterial, and Others), Animal Group (Poultry, Livestock, Companion Animals, and Others), End-Users (Veterinary Clinics, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

The viral vector segment in the veterinary vaccines market is estimated to dominate the market during the forecast period from 2024 to 2030. This growth is driven by the numerous advantages offered by viral vector vaccines over conventional vaccine types.

Viral vectors such as adenovirus, herpesvirus, and poxviruses are extensively utilized in the production of these vaccines due to their efficacy and adaptability. Viral vectored vaccines are considered safer and more stable, offering high efficiency even without the use of adjuvants. Unlike traditional vaccines, they rarely cause adverse reactions in animals and can be tailored to address emerging disease challenges.

For certain critical animal diseases, viral vector vaccines provide superior protection compared to conventional alternatives. For instance, recombinant adenovirus vaccines offer single-dose protection against Rift Valley fever virus (RVFV) in sheep and goats, significantly reducing the risk of disease outbreaks. Additionally, these vaccines demonstrate the ability to bypass maternal immunity, as seen with recombinant adenovirus vaccines targeting herpesvirus responsible for Aujeszky’s disease in pigs.

The growing demand for viral vector vaccines has spurred innovation and product launches in this segment. For example, in May 2021, Boehringer Ingelheim introduced VAXXITEK® HVT+IBD in India, a poultry viral vector vaccine providing immunity to broilers, layers, and breeders against Marek’s Disease (MD), Infectious Bursal Disease (IBD), and Newcastle Disease (ND).

Given their safety, stability, and targeted efficacy, viral vector veterinary vaccines are becoming increasingly indispensable in addressing complex animal health challenges. The expanding applications and continued development of new products in this segment are expected to drive substantial growth, ultimately contributing to the overall expansion of the global veterinary vaccines market during the forecast period.

North America is expected to dominate the overall Veterinary Vaccines Market:

North America is expected to dominate the veterinary vaccines market during the forecast period from 2024 to 2030. This growth is attributed to factors such as the rising prevalence of animal diseases like rabies, high disposable income, advanced veterinary healthcare infrastructure, and the strong presence of key market players in the region.

A key driver for the market's expansion in the United States is the increasing incidence of rabies among animals. For instance, the Texas Department of State Health Services reported 455 rabies cases in Texas in 2021, while the New Jersey Department of Health recorded 257 cases in 2020, and the California Department of Public Health reported 220 cases in the same year. These statistics highlight the urgent need for effective vaccination programs, further fueling the demand for veterinary vaccines in the region.

Another significant factor supporting market growth is the large population of pet owners in the United States. According to the 2021–2022 APPA National Pet Owners Survey, approximately 70% of U.S. households, or 90.5 million homes, own a pet. Of these, 69.0 million households own dogs, and 45.3 million own cats. Companion animals, particularly dogs, require routine vaccinations against deadly diseases like rabies, coronavirus, and parvovirus, driving consistent demand for veterinary vaccines.

The combination of a high pet ownership rate and the prevalence of animal diseases underscores the importance of vaccinations, which are pivotal in preventing serious health outcomes. These factors collectively contribute to the growth of the veterinary vaccines market in the United States and are expected to propel the North American market as a whole during the forecast period.

Veterinary Vaccines Market Key Players:

Some of the key market players operating in the veterinary vaccines market include Hester Biosciences Limited, Boehringer Ingelheim International GmbH, Zoetis Services LLC, Elanco, Merck & Co., Inc., Indian Immunologicals Ltd., Phibro Animal Health Corporation, Biogénesis Bagó®, HIPRA, ARKO, Kyoto Biken Laboratories, Inc., Vaxxinova® International BV, Dyntec s. r. o., Brilliant Bio Pharma, BioTestLab, Virbac, KBNP, BIMEDA, Shchelkovo biocombinat, VAKSINDO ANIMAL HEALTH PVT. LTD, and others.

Recent Developmental Activities in Veterinary Vaccines Market:

• In September 2022, Boehringer Ingelheim launched Fencovis® which is the first vaccine against calf disease.
• In June 2022, India's first homegrown COVID-19 vaccine Anocovax for animals, produced by the ICAR-National Research Centre on Equines (NRCE) was launched in India.
• In April 2022, Ceva Animal Health launched the IBird vaccine against Infectious Bronchitis in India.

Key Takeaways from the Veterinary Vaccines Market Report Study

• Market size analysis for current veterinary vaccines market size (2023), and market forecast for 6 years (2024-2030)
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
• Key companies dominating the global veterinary vaccines market.
• Various opportunities available for the other competitors in the veterinary vaccines market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030.
• Which is the top-performing regions and countries in the current veterinary vaccines market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for veterinary vaccines market growth in the coming future?

Target Audience Who Can be benefited from this Veterinary Vaccines Market Report Study

• Veterinary Vaccines product providers
• Research organizations and consulting companies
• Veterinary Vaccines -related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in veterinary vaccines
• Various end users want to know more about the veterinary vaccines market and the latest technological developments in the veterinary vaccines market.

Frequently Asked Questions for the Veterinary Vaccines Market:

1. What is Veterinary Vaccines?

Veterinary vaccines are preparations that contain a weakened or killed form of pathogen or their part or any other form such that it is no longer virulent (ability to cause disease) in order to imbibe active immunity in an animal in which it is administered by triggering the adaptive immune response.

2. What is the global market for Veterinary Vaccines?

The veterinary vaccines market was valued to be USD 9.78 billion and will grow at a CAGR of 9.13% during the forecast period from 2024 to 2030 in order to reach USD 16.47 billion by 2030.

3. What are the drivers for the Veterinary Vaccines Market?

The veterinary vaccines market is witnessing positive market growth owing to factors such as the rising prevalence of multiple animal diseases such as rabies, foot & mouth disease, coronavirus, and others that are contributing to the growing demand for veterinary vaccines. Moreover, the growing focus on reducing animal morbidity and mortality rates due to preventable diseases in animals is another prominent factor responsible for the growth of the veterinary vaccines market. Additionally, the rising concern over antimicrobial resistance in animals is creating an exigency for veterinary vaccines.

4. Who are the key players operating in the veterinary vaccines market?

Some of the key market players operating in the Veterinary Vaccines Market include Hester Biosciences Limited, Boehringer Ingelheim International GmbH, Zoetis Services LLC, Elanco, Merck & Co., Inc., Indian Immunologicals Ltd., Phibro Animal Health Corporation, Biogénesis Bagó®, HIPRA, ARKO, Kyoto Biken Laboratories, Inc., Vaxxinova® International BV, Dyntec s. r. o., Brilliant Bio Pharma, BioTestLab, Virbac, KBNP, BIMEDA, Shchelkovo biocombinat, VAKSINDO ANIMAL HEALTH PVT. LTD, and others.

5. Which region has the highest share in the Veterinary Vaccines Market?

Among all the regions, North America is estimated to amass a significant revenue share in the global veterinary vaccines market. This can be ascribed to the increasing prevalence of animal diseases, and the large number of pet owners in the region, particularly in the United States. Furthermore, high disposable income, sophisticated veterinary healthcare infrastructure, and the presence of key market players in the region are another factor that acts as a supportive factor for the North America veterinary vaccines market growth.