Vaccination enhances health of animals, thus improving their life expectancies. Veterinary vaccines are available for diseases such as rabies, E. coli, distemper, hepatitis rotavirus, parvovirus, brucellosis, and pinkeye. Various diseases such as foot-and-mouth disease and influenza adversely affect livestock across the globe. Economic losses due to death of livestock is significant, as it impacts the supply of dairy products, meat, and other poultry products.
Vaccines are broadly classified as inactivated vaccines, toxoid vaccines, live attenuated vaccines, conjugated vaccines, and subunit and DNA vaccines. Veterinary vaccines impact animal health and production quality and also ensure good health of general human population through consumption of various food procured from animals.
Global Animal Vaccines Market - Impact of the Coronavirus (COVID-19) Pandemic
The rapid spread of COVID-19 across the globe is posing a challenge for veterinary healthcare systems worldwide. According to data published by the Centers for Disease Control & Protection (CDC) in November 2021, the risk of animals spreading SARS-CoV-2, the virus that causes COVID-19, is low. Currently, there is no evidence that animals play a significant role in spreading SARS-CoV-2. Due to social distancing policies, most of the veterinary visits are done through telemedicine medium such as video calling from smart phones or tablet devices. For instance, in April 2020, Boehringer Ingelheim U.K. collaborated with VetHelpDirect, that offered all U.K. veterinary practices free access to an online video consultation platform for a period of three months during the pandemic. By offering an alternative to face-to-face consultation, the online platform is a means of continuing care for animals while protecting both clients and staff from the spread of COVID-19
Veterinary research centers are focused on developing a COVID-19 vaccine for animals as a preventive measures. For instance, in June 2020, the Indian Veterinary Research Institute (IVRI), announced plans of developing a vaccine and diagnostic kits, and study the transmission dynamics of COVID-19 in pets and wild animals. Moreover, this project will be carried out in collaboration with IIT-Roorkee, India.
Furthermore, in the near future, global animal vaccines market is expected witness growth, owing to the increasing demand for vaccinations for animals. Following the re-opening of manufacturing units, demand and supply are projected to meet expectations of customers whose pet vaccine schedules were delayed due to the pandemic.
The global animal vaccines market is estimated to be valued at US$ 7,119.7 Mn in 2021, and is expected to exhibit a CAGR of 6.6% over the forecast period (2021-2028).
Figure 1: Global Animal Vaccines Market Share (%) Analysis, by Product Type, 2021
Increasing number of R&D initiatives is the major factor that is expected to drive the market growth over the forecast period.
Market players are engaged in conducting research projects to help understand viral diseases, in order to discover vaccination in order to prevent animals from various diseases. For instance, in June 2018, Regeneron Pharmaceuticals, Inc. and Zoetis, Inc. announced a five-year collaboration to research the use of Regeneron's monoclonal antibody therapeutics in animals and discover new veterinary treatments.
Increasing Product Launches and Approvals
Market players are focusing on launching generic versions of opioid medications, which is expected to augment the market growth over the forecast period. For instance, in May 2020, MSD Animal Health, a division of Merck & Co., Inc., launched NOBIVAC Myxo-RHD PLUS vaccine to reduce mortality and clinical signs of the two most common viral diseases in rabbits: myxomatosis and rabbit haemorrhagic disease (RHD) caused by both classic (RHDV1) and variant (RHDV2) strains.
|Base Year:||2020||Market Size in 2021:||US$ 7,119.7 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||6.6%||2028 Value Projection:||US$ 11,156.3 Mn|
Merck & Co., Inc., Boehringer Ingelheim International GmbH., Zoetis Inc., Elanco Animal Health Incorporated, Ceva, HIPRA, Romvac Company Sa, Biovac, Vaxxinova International BV, and Biogénesis Bagó
|Restraints & Challenges:||
Global Animal Vaccines Market – Restraints
Proper vaccine storage and handling is important factor in preventing and eradicating various common vaccine-preventable diseases. Yet, each year, storage and handling errors result in revaccination of several pet animals and significant financial loss due to wasted vaccines. Failure to store and handle vaccines properly can reduce vaccine potency, resulting in inadequate immune responses in pet animals and poor protection against diseases, which is anticipated to hinder the market growth.
Global Animal Vaccines Market – Regional Analysis
On the basis of region, the global animal vaccines market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global animal vaccines market over the forecast period, owing to increasing initiatives by private and government organizations related to animal vaccination. For instance, in January 2020, the U.S. Department of Agriculture’s (U.S.DA) Animal and Plant Health Inspection Service (APHIS) announced to award US$ 10.2 million to support disease prevention and emergency response training, and to develop the National Animal Vaccine and Veterinary Countermeasures Bank (NAVVCB).
Figure 2: Global Animal Vaccines Market Value (US$ Mn), by Region, 2021
Global Animal Vaccines Market – Competitive Landscape
Major players operating in the global animal vaccines market include Merck & Co., Inc., Boehringer Ingelheim International GmbH., Zoetis Inc., Elanco Animal Health Incorporated, Ceva, HIPRA, Romvac Company Sa, Biovac, Vaxxinova International BV, and Biogénesis Bagó.
Animal vaccines are parenteral products that are used as prophylactic as well as in the treatment of various veterinary diseases. Animal vaccines play a crucial role in ensuring good health, longevity, and improving overall productivity of pets and livestock, in a cost-effective manner. Companion animal vaccines reduce transmission of various diseases from animals to humans. These vaccines are parenteral products that are used in prophylactic treatment of various diseases such as blastomycosis, psittacosis cat scratch disease, and others.
Vaccines are preventive medicines for the treatment of various diseases. Some of the vaccines are expensive to afford. So various companies operating in the global animal vaccines market offer reimbursement to reduce the expenses of pet vaccinations which is expected to augment the market growth over the forecast period. For instance, For canine patients receiving an ULTRA Duramune DAP combination and Bronchi-Shield ORAL, Elanco reimburses normal and customary charges (up to US$ 5,000) associated with the diagnosis and treatment of any patient suffering respiratory disease due to canine parainfluenza virus infection Moreover, Elanco reimburses standard and reasonable diagnostics (a biopsy and histopathological exam) to reach a definitive diagnosis. With a confirmed diagnosis, Elanco reimburses standard and reasonable treatment costs up to US$ 1,500. For canine patients receiving an ULTRA Duramune DAP combination and Bronchi-Shield ORAL, Elanco reimburses normal and customary charges (up to US$ 5,000) associated with the diagnosis and treatment of any patient suffering respiratory disease due to canine parainfluenza virus infection.
Moreover, various pet health insurance companies provide coverage for vaccines, examinations, teeth cleaning, spaying, and other pet health related activities. Some of the pet health insurance companies include ASPCA Pet Insurance, PetFirst Insurance, Embrace Pet Insurance Agency, and PetPlan, Allstate Insurance Company, among others.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.