Veterinary Vaccines Market Analysis

Veterinary vaccination enhances health of animals, thus improving their life expectancies. Most common veterinary vaccines available are for 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 are significant, as it impacts the supply of dairy products, meat, and other poultry products.

Veterinary biologics are governed by the U.S. Department of Agriculture (USDA) Center for Veterinary Biologics. According to the American Veterinary Medical Foundation, core vaccines such as rabies, feline viral rhinotracheitis, feline panleukopenia, canine parvovirus infection, and canine hepatitis are recommended for every pet, while non-core vaccines such as canine kennel cough and feline leukemia are recommended based on specific needs of the animal. However, low awareness among pet owners and livestock managers are expected to hamper growth of the veterinary vaccines market, especially in emerging economies.

Global Veterinary Vaccines market is estimated to be valued at US$ 8,482.6  million in 2022 and is expected to exhibit a CAGR of 6.2% during the forecast period (2022-2030).

Figure 1. Global Veterinary Vaccines Market Share (%), by Technology, 2022

Viral Outbreaks in companion and livestock population are expected to drive growth of the global veterinary vaccine market.

Viral outbreak in livestock population such as nipah virus, swine flu, canine influenza, bird flu, and avian influenza are expected to drive growth of the veterinary vaccine market over the forecast period. Nipah virus outbreak found in equine veterinarians in 2018 has influenced scientists to create vaccine, for global concerns. Furthermore, in 2018, the World Health Organization listed Nipah infection as a public health risk with epidemic potential.

Moreover, in May 2018, Coalition for Epidemic Preparedness Innovations (CEPI), a foundation that takes donations from public, private, philanthropic, and civil society organisations, to finance independent research projects, announced that it would grant around US$ 25 million over the next five years to the U.S. pharma firms such as Profectus BioSciences and Emergent BioSolutions to advance the development of vaccine against viral infection, which has proved to be fatal in 70% of the cases.

Figure 2. Global Veterinary Vaccines Market Share (%), by Region, 2022

Increasing government initiatives for veterinary vaccine are expected propel the global veterinary  vaccine market growth over the forecast period

Increase in government initiatives for developing veterinary vaccine such as tuberculosis vaccine are expected to propel the global veterinary vaccine market growth over the forecast period. For instance, on July 22, 2020, the Department for Environment, Food & Rural Affairs and Animal and Plant Health Agency, U.K, had given permission to scientists from U.K. government research organization to conduct field trial for bovine tuberculosis (bTB) TB cattle vaccination. These field trials will be conducted over the next four years from 2021 till 2024 on behalf of Defra (Department for Environment, Food and Rural Affairs), the Welsh Government and the Scottish Government, following 20 years of ground-breaking research into bovine TB vaccines and diagnostic tests.

Veterinary Vaccine Market Report Coverage

Report Coverage	Details
Base Year:	2021	Market Size in 2022:	US$ 8,482.6 Mn
Historical Data for:	2017 to 2020	Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	6.2%	2030 Value Projection:	US$ 13,730.1 Mn
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 Countries, Israel, and Rest of Middle East Africa: South Africa, North Africa, and Central Africa
Segments covered:	By Technology: Inactivated Vaccines, Toxoid Vaccine, Live Attenuated Vaccines, Subunit and DNA Vaccines By Animal Type: Companion (Equine, Canine, Feline), Livestock (Bovine, Ovine, Porcine, Poultry, Others)
Companies covered:	Aratana Therapeutics, Inc., Regeneus Ltd., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Zoetis, Inc., Eli Lilly and Company, Merck & Co., Inc., and Boehringer Ingelheim GmbH.
Growth Drivers:	Viral Outbreaks in Companion and Livestock Population Increasing government initiative for veterinary vaccine production
Restraints & Challenges:	High cost of veterinary vaccines

Global Veterinary Vaccines 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 had declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting production and demand of drugs and vaccines, 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, UAE, Egypt, and others, faced problems with regard to the transportation of drugs and vaccines from one place to another.

COVID-19 had moderate impact on global veterinary vaccines market. According to the American Veterinary Medical Association, 98% of veterinarians were limiting client contact. Moreover, various non-urgent veterinary works were postponed due to COVID-19 restrictions.

Moreover, the ongoing COVID-19 pandemic situation has resulted in a huge increase in the number of pet adoptions. The Society for the Prevention of Cruelty to Animals, Los Angeles, reported in 2021 that the rate of adoption of animals doubled in June 2020, with daily pet adoptions of about 10 to 13 per day. Therefore, the rising adoption of pets and vaccination as precautionary method may drive growth of the global veterinary tuberculosis vaccine market.

Global Veterinary Vaccines Market: Key Developments

On May 5, 2022, Boehringer Ingelheim, a company involved in manufacturing vaccines for animal health, announced launch of TwistPak, a mixing platform which enables swine producers to combine two vaccines, Ingelvac CircoFLEX and Ingelvac MycoFLEX, in a convenient, fast, and flexible way.

Global Veterinary Vaccines Market: Restraint

High storage costs and complex production processes for vaccines are expected to hamper growth of the veterinary vaccine market during the forecast period. For instance, proper vaccine storage and handling is an important factor in preventing and eradicating various common vaccine-preventable diseases. Each year failure of storage and handling errors results in revaccination of many patients and significant financial loss is experienced due to wasted vaccines. Moreover, failure to store and handle vaccines properly can reduce vaccine potency, resulting in inadequate immune responses in patients, and poor protection against diseases.

Furthermore, all vaccines used in small and large animal veterinary medicine, including lyophilized (freeze-dried) and liquid forms, must be stored in the dark with temperature of 35°F (2°C) and 45°F (7°C). A few veterinary vaccines such as poultry and fish vaccines must be kept frozen. Moreover, technicians working with frozen vaccines should contact the manufacturer for specific storage instructions, which requires high expenditure for storage of vaccines.

Key Players

Major players operating in the global veterinary vaccines market include Aratana Therapeutics, Inc., Regeneus Ltd., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Zoetis, Inc., Eli Lilly and Company, Merck & Co., Inc., and Boehringer Ingelheim GmbH.