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  • Published On : Oct 2023
  • Code : CMI3387
  • Pages :208
  • Formats :
      Excel and PDF
  • Industry : Pharmaceutical

The global companion animal vaccine market is estimated to be valued at US$ 3.35 Billion in 2023 and is expected to exhibit a CAGR of 6.8% during the forecast period (2023-2030).

Analysts’ Views on Global Companion Animal Vaccine Market :

The expansion of the companion animal vaccine market can be attributed to the humanization of pets, increasing knowledge of the prevention of animal-to-human transfer from domestic animals, and improved understanding of the benefits of vaccination. Rising funding for revolutionary product research and development is likely to provide lucrative growth prospects for industry leaders. Increased knowledge of animal health and well-being is one significant factor driving market growth. Rising development, such as clinical research to develop vaccines for many animal diseases using new vaccine technologies such as split-product, separated protein or peptide, manufacturer vaccine, and nucleic acid approaches, as well as an increase in global demand for animal vaccination.

Figure 1. Global Companion Animal Vaccine Market Share (%), By Species Type, 2023

COMPANION ANIMAL VACCINE MARKET

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Global Companion Animal Vaccine Market – Drivers

Increasing Zoonatic Diseases cause Public Health Threats

There are several advantages to having a companion animal. Pet popularity of stroking cats and dogs is expanding globally, however pets can occasionally carry hazardous germs that can transmit to people and cause sickness; these are known as zoonotic illnesses. As per data for zoonotic diseases in Eastern Europe published on July 2020, by the World Health Organization (WHO), it is estimated that globally, about one billion cases of illness and millions of deaths occur every year from zoonoses. Over 30 new human pathogens have been detected in the last three decades, 75% of which have originated in animals.

Increasing investment in research and development of companion animal vaccines

Major players in the market are focusing on investing in research and development to understand viral diseases and discover vaccinations for efficiently treating animals suffering from infectious diseases. This is expected to fuel overall market growth. For instance, in October 2021, Boehringer Ingelheim, a German-based global pharmaceutical company, announced an investment of US$105.355 million in veterinary public health capabilities to aid the emergence of transboundary diseases and an earlier investment of US$210 million in a new veterinary public health (VPH) strategic production center.

Figure 2. Global Companion Animal Vaccine Market  Share (%), By Region, 2023

COMPANION ANIMAL VACCINE MARKET

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Global Companion Animal Vaccine Market - Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global companion animal vaccine market over the forecast period. North America is estimated to hold 48.3% of the market share in 2023. The global companion animal vaccine market is expected to witness significant growth in the coming years, driven by the high prevalence of orthopedic disorders and dysfunctions, favorable health reimbursement, and increased awareness. The increasing prevalence of neurological disorders is contributing to the growth of the companion animal vaccine market in the North America region. For instance, Merck Animal Health, a division of Merck & Co., a U.S.-based pharmaceutical company, announced on  September 2022, the launch of the NobivacIntra-Trac Oral BbPi vaccine, which is indicated to be used for the dual prevention of two major canine respiratory pathogens. The new product launches and approvals of vaccines are expected to increase the number of vaccine produced in the U.S., thereby driving demand for veterinary vaccines in the U.S.

Global Companion Animal Vaccine Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems with the transportation of things from one place to another.

However, The effects of COVID-19 on the market are expected to be substantial. According to the PDSA’s June 2021 “PDSA Animal Wellbeing” report, 2 million individuals in the U.K. adopted pets between March 2020 and May 2021. Of those, 10% adopted dogs, 8% adopted cats, and 13% adopted rabbits. This high adoption rate in different parts of the world has led to a rise in animal health concerns, This, in turn, increased demand for veterinary vaccinations, driving the expansion of the market under consideration.

Companion Animal Vaccine Market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 3.35 Bn
Historical Data for: 2018 to 2022 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 6.8% 2030 Value Projection: US$ 5.31 Bn
Geographies covered:
  • 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 Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product Type: Attenuated Live Vaccine, Conjugate Vaccine, Inactivated Vaccine, Subunit Vaccine , Toxoid Vaccine, DNA Vaccine, Recombinant Vaccine
  • By Species Type: Canine, Feline, Equine, Avians, Others
  • By Distribution Channel: Veterinary Clinics, Veterinary Hospitals, Veterinary Research Institutes, Others
Companies covered:

Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva Ltd., Merck & Co. Inc., Virbac, Zoetis Inc., HIPRA, Biogénesis Bago, Ourofino Animal Health, Croda International Plc, KM Biologics, KM Biologics, Sinovac, Kyoto Biken Laboratories, Inc., HESTER BIOSCIENCES LIMITED, Calier, Bioveta, a.s.

Growth Drivers:
  • Increasing zoonatic diseases causing public health threats 
  • Rising investment in research and development of veterniery vaccine
Restraints & Challenges:
  • high cost and complex manufacturing methodology

Global Companion Animal Vaccine Market Segmentation:

The global companion animal vaccine market report is segmented by product type, by species type, by distribution channel, and by region.

  • Based on product type, the market is segmented into attenuated live vaccine, conjugate vaccine, inactivated vaccine, subunit vaccine, toxoid vaccine, DNA vaccine, and recombinant vaccine. Out of which, the attenuated live vaccine is expected to hold a dominant position in the global companion animal vaccine market during the forecast period, and this is attributed to increasing product approvals and launches during the forecast period.
  • Based on species type, the market is segmented into canine, feline, equine, avians, and others. Out of which, feline is expected to dominate the market over the forecast period, and this is attributed to the increasing adoption of cats as common pets around the world.
  • Based on distribution channel, the market is segmented into veterinary clinics, veterinary hospitals, veterinary research institutes, and others. Out of which, the veterinary hospitals is expected to dominate the market over the forecast period, and this is attributed to the prompt vaccination by hospitals.
  • Based on Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, the North America region is expected to dominate the market over the forecast period, and this is attributed to the increasing heathcare funding by government.

Among all the segmentation, the Attenuated Live Vaccine segment of product type is expected to dominate the market over the forecast period, and this is attributed to increased approvals for product launches and approvals of Attenuated Live Vaccine. For instance, on August 24, 2023, MSD Animal Health, a division of Merck & Co. announced new data for the Gp40 antigen vaccine, which is indicated as the first vaccine to reduce C. parvum infection in pregnant cows to protect their newborn calves during the European Buiatrics Congress and ECBHM Jubilee Symposium. The data results showed that newborn calves fed with colostrum from Cryptosporidium-vaccinated heifers had a significantly lower chance of having diarrhea, as measured by health and diarrhea scores.

Global Companion Animal Vaccine Market - Cross Sectional Analysis:

Among product type, the Attenuated Live Vaccine segment is dominant during the forecast period in the North America region due to the key players focusing on organic strategies such as the launch of new products, which is expected to drive segment growth over the forecast period. For instance, on June 12, 2023, MSD Animal Health announced approval INNOVAX-ILT-IBD from the U.S. Food and Drug Administration and the European Commission for the Innovax vaccine a dual-construct HVT vaccine that provides long-term protection against infectious laryngotracheitis. Such predicted approvals and launches are fueling the global companion animal vaccines market in North America.

Global Companion Animal Vaccine Market : Key Developments

  • In September 2022, Merck Animal Health announced the donation of five million doses of its NOBIVAC rabies vaccine to help eliminate canine-mediated rabies through the Afya program. Mission Rabies has now vaccinated nearly two million dogs through Merck Animal Health’s Afya program.
  • In July 2020, Elanco, a U.S.-based animal health and pharmaceutical company, announced the acquisition of Bayer’s animal health division, a German-based healthcare company, for $7.6 billion to expand its animal healthcare portfolio.
  • In April 2020, Boehringer Ingelheim, a U.K. company, collaborated with VetHelpDirect, which 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.
  • In October 2020, Zoetis, a global animal health company, announced the launch of Versican Plus Bb Oral, the first oral vaccine for dogs in Europe. The vaccine provides robust, long-lasting protection against Bordetella bronchiseptica, a primary component of the canine infectious respiratory disease complex (CIRDC), with easy oral administration.

Global Companion Animal Vaccine Market : Key Trends

  • Introduction of companion animal vaccine with advanced technology: Introduction of companion animal vaccine with advanced technology in the market is expected to drive the growth of the global companion animal vaccine market  over the forecast period. For instance, in November 2021, Stryker Corporation, a multinational medical technology corporation based in the U.S., launched the Prophecy Infinity Resect-Through Guides for use in total ankle replacement surgeries. The system represents the refinement of Stryker’s industry gold standard technique, allowing surgeons to improve or efficiency by reducing potentially time-consuming interoperative steps in a streamlined surgical process.

Global Companion Animal Vaccine Market : Restraint

High cost and complex manufacturing methodology : Vaccine development involves high costs and complex manufacturing methodologies. For instance, some vaccines for poultry and fish need to be kept frozen, and technicians working with frozen vaccines need to contact the manufacturer for specific storage instructions that requires A high expenditure for storage. These factors are expected to hinder market growth over the forecast period.

However, Receiving marketing approval for new vaccines and product launches is driving the market.

Global Companion Animal Vaccine Market : Opportunities

  • Increased Strategic Partnership and Collaboration for Production of Novel veterinary Vaccine: Key market players are focusing on strategies such as partnership and collaboration to increase production and innovation in companion animal vaccine, which is providing opportunities for new vaccine launches, which is expected to drive demand during the forecast period. For instance, on March 1, 2023, the Biotechnology and Biological Sciences Research Council (BBSRC), a part of UK Research and Innovation (UKRI), and  the Bill & Melinda Gates Foundation, a U.S.-based private foundation, announced the creation of a new center at The Pirbright Institute to accelerate the development of animal vaccines to combat emerging and urgent infectious diseases.

Global Companion Animal Vaccine Market  - Key Players

Major players operating in the global companion animal vaccine market  include Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva Ltd., Merck & Co. Inc., Virbac, Zoetis Inc., HIPRA, Biogénesis Bago, Ourofino Animal Health, Croda International Plc, KM Biologics, Indian Immunological Ltd., Sinovac, Kyoto Biken Laboratories, Inc., HESTER BIOSCIENCES LIMITED, Calier, Bioveta, a.s

Global Companion Animal Vaccine Market – Definition

Companion animal vaccinations are those administered to pets (such as dogs and cats) to stimulate their immune responses. Companion animal vaccines, in other words, are used to improve the functioning of the immune system in pets and other animals.

Frequently Asked Questions

The global companion animal vaccine market  is estimated to be valued at US$ 3.35 Billion in 2023 and is expected to exhibit a CAGR of 6.8% between 2023 and 2030.

Increasing zoonatic diseases causing public health threats are expected to drive the global companion animal vaccine market growth.

Attenuated Live Vaccine is the leading product type segment in the global companion animal vaccine market.

High cost and complex manufacturing methodology to hinder the global companion animal vaccine market over the forecast period.

Major players operating in the global companion animal vaccine market are Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva Ltd., Merck & Co. Inc., Virbac, Zoetis Inc., HIPRA, Biogénesis Bago, Ourofino Animal Health, Croda International Plc, KM Biologics, KM Biologics, Sinovac, Kyoto Biken Laboratories, Inc., HESTER BIOSCIENCES LIMITED, Calier, and Bioveta, a.s.

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