Global Veterinary Vaccine Industry Share Projections: CAGR of 8.91% Envisions Market Size of $25.48 Billion by 2030

Houston, TX, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Veterinary Vaccine Market By Route Of Administration (Intramuscular, Subcutaneous, And Intranasal), By Animal Type (Companion And Livestock), By Product (Inactivated Vaccines, Attenuated Live Vaccines, DNA Vaccines, Subunit Vaccines, And Recombinant Vaccines), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Veterinary Vaccine Market size & share in terms of revenue was valued at USD 12.80 billion in 2022 and it is expected to surpass around USD 25.48 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 8.91% during the forecast period 2023 to 2030.”

What is Veterinary Vaccine? How big is the Veterinary Vaccine Industry?

Veterinary Vaccine Report Coverage & Overview:

Vaccines for animals are biological preparations that are geared towards ensuring the health and wellbeing of the animals that receive them. These vaccinations, which function similarly to vaccines designed for human protection, play the job of preventing diseases in animals, which, in turn, helps safeguard the interests of humans as a consequence of the dependency that exists in terms of the ecological food chain. The primary objective of the administration of veterinary vaccinations is to protect the health and well-being of companion animals while also contributing to enhanced livestock production in a manner that is both risk-free and efficient. Additionally, it is utilised to stop the transmission of diseases from animals to people in any manner. The strategy for developing vaccines for animals must also be altered because to the differences in the results that are anticipated. In this process, crude vaccines are developed into vaccines with defined subunits, and naked deoxyribonucleic acid (DNA) injections are used. Chicken cholera was the target of the very first vaccination ever created for use in veterinary medicine, which came about in 1879. Vaccines for animals have been the subject of a significant amount of investigation and development since that time.

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Global Veterinary Vaccine Market: Growth Dynamics

The push by regional governments to safeguard livestock from deadly diseases is expected to propel market growth.

The global veterinary vaccine market is set to gain momentum due to increasing initiatives taken by regional governments to ensure the protection of livestock against lethal diseases. Several countries, in response to the impact of Covid-19 believed to have originated from bats, have launched rigorous implementation programs focused on livestock and animal health. A recent report from the Animal and Plant Health Inspection Service (APHIS), part of the United States Department of Agriculture, highlights the 2018 Farm Bill that enables the agency to support animal disease prevention and management efforts. The bill allocated funds for the establishment of the National Animal Vaccine, the National Animal Disease Preparedness and Response Program (NADPRP), and the Veterinary Countermeasures Bank (NAVVCB), further strengthening its impact. APHIS has already channeled approximately USD 40 million into supporting over 180 projects for animal welfare and vaccination.

The upsurge in instances of diseases transferring from animals to humans drives further growth.

Recent research underscores the transfer of multiple diseases, especially those originating in livestock, to humans. These encompass conditions such as campylobacterosis, ringworm, listeriosis, Q fever, chlamydiosis, rabies, yersiniosis, leptospirosis, salmonellosis, cryptosporidiosis, and infections caused by pathogenic strains of Mycobacterium paratuberculosis, Escherichia coli, campylobacteriosis, MRSA, and Anthrax. While not all diseases have preventive vaccines, global leaders and international and regional healthcare agencies are collaborating to stem certain conditions at the source. For instance, rabies, a fatal zoonotic disease responsible for over 50,000 annual deaths worldwide, can be averted by administering oral anti-rabies vaccines to dogs, a method endorsed by the World Health Organization (WHO) and the World Organization for Animal Health (OIE).

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Report Scope

Veterinary Vaccine Market: Segmentation Analysis

The global veterinary vaccine market is segmented based on route of administration, animal type, product, and region.

Based on the route of administration, The market is divided into intramuscular, subcutaneous, and intranasal segments on a global scale. In 2022, the subcutaneous segment accounted for more than 41% of the market share. Subcutaneous injection sites, often located behind an animal's neck or shoulder blades, offer convenient administration and efficient absorption in the body. These sites are generally less painful for animals, making them preferable for veterinarians, thereby fostering higher adoption rates.

Based on animal type, The companion animal vaccine business and the livestock vaccine industry are the two divisions that make up the veterinary vaccine industry, with the livestock vaccine industry owning the largest market share in this segment. The rising popularity of cattle farming is being fueled in part by the rising consumption of items derived from meat in restaurants, hotels, and other types of food service establishments. The rapid increase in the number of diseases that can be passed from animals to humans as well as the severity of these illnesses has led to the widespread use of vaccinations for farm animals. McDonald's, a fast-food retail chain, is known to use more than 25 million cows per year for burger patties as reported by Iskcon Birmingham.

Based on product, Inactivated vaccines, attenuated live vaccines, DNA vaccines, subunit vaccines, and recombinant vaccines are the five subcategories that make up the global market for vaccinations. Due to the fact that it is the oldest form of vaccination that is still in practise today, the attenuated vaccine sector controlled close to 35.9% of the market share in 2022. It is possible that increased segmental growth will occur in the years to come as a result of the rising research being conducted on the further application of attenuated live vaccines. On the other hand, it is anticipated that the recombinant category will expand at the highest CAGR by the year 2030.

The global Veterinary Vaccine market is segmented as follows:

By Route of Administration

• Intramuscular
• Subcutaneous
• Intranasal

By Animal Type

• Companion
• Livestock

By Product

• Inactivated Vaccines
• Attenuated Live Vaccines
• DNA Vaccines
• Subunit Vaccines
• Recombinant Vaccines

Browse the full “Veterinary Vaccine Market By Route Of Administration (Intramuscular, Subcutaneous, And Intranasal), By Animal Type (Companion And Livestock), By Product (Inactivated Vaccines, Attenuated Live Vaccines, DNA Vaccines, Subunit Vaccines, And Recombinant Vaccines), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/veterinary-vaccine-market

Competitive Landscape

Some of the main competitors dominating the global Veterinary Vaccine market include - 

• Boehringer Ingelheim Animal Health
• Zoetis
• Elanco Animal Health
• Merck Animal Health
• IDEXX Laboratories
• Ceva Santé Animale
• MSD Animal Health
• Virbac
• Vetoquinol
• Heska Corporation
• Zomedica Pharmaceuticals Corp.
• HIPRA
• Biogenesis Bago
• Zoetis India Ltd.
• Biogénesis Bagó.

Key Insights from Primary Research:

• As per the analysis shared by our research analyst, the global veterinary vaccine market is estimated to grow annually at a CAGR of around 8.91% over the forecast period (2023-2030)
• In terms of revenue, the global veterinary vaccine market size was valued at around USD 12.80 billion in 2022 and is projected to reach USD 25.48 billion, by 2030.
• The veterinary vaccine market is projected to grow at a significant rate due to the growing efforts by the regional government to ensure livestock safety against deadly diseases
• Based on route of administration segmentation, subcutaneous was predicted to show maximum market share in the year 2022
• Based on product segmentation, attenuated live vaccines was the leading product in 2022
• On the basis of region, North America was the leading revenue generator in 2022

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Key questions answered in this report:

• What is the market size and growth rate forecast for Veterinary Vaccine industry?
• What are the main driving factors propelling the Veterinary Vaccine Market forward?
• What are the leading companies in the Veterinary Vaccine Industry?
• What segments does the Veterinary Vaccine Market cover?
• How can I receive a free copy of the Veterinary Vaccine Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2023−2030
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Route of Administration, By Animal Type, By Product, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

North America commanded a quarter of the total market share in the year 2022.

During the forecast period, North America is poised to lead the global veterinary vaccine market. In 2022, this region contributed to approximately 25.1% of the overall global revenue. This can be attributed to a higher concentration of livestock nurturing sites and an increased prevalence of various zoonotic diseases. Notably, both the United States and Canada have implemented stringent systems to not only initiate mass animal vaccine programs but also ensure their effective execution. Furthermore, the robust veterinary healthcare infrastructure present in the region further propels its growth.

According to data from the American Veterinary Medical Association, the United States alone boasted around 121,461 veterinarians in 2021. Various research studies have yielded successful outcomes in the development of innovative veterinary vaccines. For instance, in January 2023, the US Department of Agriculture (USDA) granted approval for a pioneering vaccine designed for honey bees, specifically targeting American foulbrood, a severe bacterial infection. The vaccine's developer is Dalan Animal Health, a biotech company based in Georgia. Additionally, in June, the US Food and Drug Administration (FDA) approved around four vaccines, encompassing vaccines for dogs and cattle. The companion pet care sector also contributes significantly to the regional revenue, with a growing number of pet adopters in these nations.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Market Opportunities: Veterinary Vaccine Industry

Increase in the amount of novel animal vaccines being developed to create new prospects for growth

It is anticipated that increased research and development (R&D) and the creation of novel vaccines for animals would present the worldwide veterinary vaccine market with increased prospects for expansion, which will in turn drive greater growth rates. For instance, in December 2022, researchers at the University of Florida demonstrated that a vaccine they had created for the treatment of brucellosis in small ruminants exhibited a spectacular response in terms of boosting and conferring long-term immunity in mice. This vaccination was intended to cure brucellosis. There is a good chance that the novel mucosal vaccination prototype will contribute to reshaping mice's defence against brucellosis. In the meantime, the Indian Council of Agricultural Research (ICAR) discovered an effective vaccination against the Lumpy skin ailment that was prevalent in cattle in the month of August 2022.

According to the reports, the ailment had been responsible for the deaths of more than 1.55 lakh cattle in 2022 alone. In addition to this, there has been a noticeable increase worldwide in the amount of money that is being invested in the establishment of new animal vaccine centres. The Bill and Melinda Gates basis, the Biological Sciences Research Council (BBSRC), and the Foreign, Commonwealth and Development Office (FCDO), working together in a cooperative partnership, began the process of building the basis for a new centre at the Pirbright Institute in March of 2023. The creation of animal vaccines is going to be pushed forward and sped up with the help of this centre, which will also be used to combat infectious animal diseases.

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