Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Veterinary vaccines play a crucial role in ensuring longevity, good health and improving overall productivity of pets, in a cost-effective manner. Veterinary vaccines also play an important role in reducing transmission of various diseases from animals to humans. Companion animal vaccines are parenteral products that are used in prophylactic treatment of various diseases transmitted by animals as well as for treatment of various veterinary diseases.
The companion animal vaccines market is expected to witness significant growth during the forecast period due to increasing pet ownership. For instance, according to the American Pet Products Association's 2017-2018 National Pet Owners Survey, around 89.7 million pets are owned in the U.S. According to the same source, around 63.4 million households own pet dogs and around 42.7 million households own pet cats.
The global companion animal vaccines market value is estimated to be valued at US$ 2,847.7 Mn in 2020 and is expected to increase to US$ 4,437.0 Mn by 2027, witnessing a CAGR of 6.5% during the forecast period.
Figure 1. Global Companion Animal Vaccine Market Value (%) by 2020
Various manufacturers are focusing on mergers and acquisitions, in order to increase their product portfolio and geographical presence in the global companion animal vaccines market. For instance, in 2017, Boehringer Ingelheim acquired Merial, animal health business division of Sanofi. The acquisition helped Boehringer Ingelheim to strengthen its position in the animal healthcare sector.
The rising number of grants for the launch of various anti-cancer therapies for veterinary cancer treatment is expected to be a major factor driving growth of the global companion animal vaccines market during the forecast period. For instance, in 2017, Animal Cancer Foundation (ACF) received a grant of US$ 1 million from the Blue Buffalo Foundation to support an oncology research which would study similarities between naturally occurring cancers in people and pets, and find effective treatment in both species.
The global companion animal vaccines market is expected to witness considerable growth owing to increasing epidemiology of diseases such as melanoma and carcinoma. For instance, According to the study by Cancer News, 2016, grey horses over 15 years of age are more prone to develop melanoma, with an estimated prevalence of 80%. The study also states that squamous cell carcinoma is the second-most common cancer in horses, accounting for 20% of all diagnosed cancer. Moreover, incidence of ovarian cancer is 2.5% to 6% of all equine cancers.
Companion Animal Vaccine Market Report Coverage
||Market Size in 2019:
||US$ 2,847.7 Mn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 4,437.0 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of the Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Product Type: Attenuated Live Vaccine, Conjugate Vaccine, Inactivated Vaccine, Subunit Vaccine, Toxoid Vaccine, DNA Vaccine, Recombinant Vaccine.
- By Animal Type: Canine, Feline, Equine, Others.
- By Distribution Channel: Veterinary Clinics, Veterinary Hospitals, Veterinary Research Institute.
Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva, Merck & Co., Inc., Virbac, Zoetis Inc., HIPRA, Biogénesis Bagó, and Ourofino Animal Health
- The rising number of research grants for various anti-cancer therapies for veterinary cancer treatment.
- Key companies are focusing on launching vaccines for treating various diseases in pet animals.
- Rising healthcare expenditure on pets healthcare and for treatment of various diseases such as cancer, allergies, and diabetes.
|Restraints & Challenges:
- Failure to store and handle vaccines properly can reduce vaccine potency, resulting in inadequate immune responses in pet animals and poor protection against diseases.
- Improper storage and handling of vaccines leads to revaccination and can cause financial loss for companies.
Furthermore increasing pet ownership during the forecast period is also expected to drive the market growth .For instance, according to the American Pet Products Association's 2017-2018 National Pet Owners Survey, there are approximately 89.7 million pets owned in the U.S. According to the same source, around 63.4 million households own pet dogs and around 42.7 million households own pet cats.
Global Companion Animal Vaccine Market – Impact of Coronavirus (COVID-19) Pandemic
Supply chain and manufacturing activities in India, Italy, Spain, U.K. and the U.S. have been disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of vaccines. Vaccination is a major requirement to protect companion animals from bacterial or viral infections, which might be delayed due to pandemic.
For instance, CZ Vaccines, a leading biotechnological company and animal vaccine manufacturing, headquartered in Spain, experienced a slow-down in supply chain and manufacturing activities due to COVID19 lockdown.
However, some players in the global companion animal vaccines market reported that their manufacturing and supply processes were operational despite the pandemic. For instance, Elanco Animal Health reported that its manufacturing network remained fully operational. The company is taking extra precautions to protect its team and ensure continuity of supply.
Figure 2. Global Companion Animal Vaccine Market Share (US$ Mn), by Region, 2020
Launch of vaccines for pet animals is a major factor that is driving growth of the North America companion animal vaccines market. For instance, in February 2018, Boehringer Ingelheim and Merial launched the oral vaccine against canine infectious tracheobronchitis caused by Bordetella bronchiseptica in the U.S.
In Europe, manufacturers are focused on development of vaccines for companion animals which is expected to favor growth of the market in this region. Manufacturers are adopting inorganic growth strategies such as acquisitions to increase their presence in the global market. For instance, in 2016, Ceva Sante Animale (Ceva) acquired Hertape Saude Animale Ltd. and Inova Biotecnologia Saude Animale Ltd., the acquisition helpded the company to expand research and development of vaccines and enter the companion animal vaccines market.
Major players operating in the global companion animal vaccine market are Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva, Merck & Co., Inc., Virbac, Zoetis Inc, HIPRA, Biogénesis Bagó, and Ourofino Animal Health.