Core vaccines are administered to all cats and include, feline calicivirus (FCV), feline herpesvirus-1 (FHV-1), feline leukemia virus (FeLV), feline parvovirus (panleukopenia) (FPV), and rabies virus. Rabies vaccinations are given in the right hind leg and canine distemper-parvovirus and feline upper respiratory-panleukopenia (FVRCP) vaccines are given in the right foreleg.
The global companion animal vaccines market is estimated to account for US$ 4,682.2 Mn in terms of value by the end of 2027.
Global Companion Animal Vaccines Market: Drivers
Increasing burden of zoonotic diseases is expected to propel growth of the global companion animal vaccines market over the forecast period. For instance, according to GALVmed, a not-for-profit livestock health product development and access partnership, Rift Valley Fever, an endemic zoonotic disease throughout Africa and the Middle East, accounts for an expenditure of US$ 427 million, annually.
Global Companion Animal Vaccines Market: Opportunities
Increasing initiatives by private and government organizations related to animal vaccination is expected to offer lucrative growth opportunities for players in the market. For instance, in January 2020, The United States Department of Agriculture’s (USDA) 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).
Global Companion Animal Vaccines Market: Restraints
Adverse vaccine reactions, including type I and type III hypersensitivities, vaccine-associated fibrosarcoma, vaccine-associated disease enhancement and formation of autoimmune disease, can occur in veterinary medicine due to misuse of the vaccine or overvaccination, which is expected to hamper growth of the market.
The Attenuated Live Vaccines segment in the global companion animal vaccines market was valued at US$ 930.6 Mn in 2019 and is expected to reach US$ 1,655.9 Mn by 2027 at a CAGR of 7.5% during the forecast period. Increasing incidence of zoonotic diseases in companion animals is expected to propel growth of the segment during the forecast period.
The Veterinary Clinics segment held dominant position in the global companion animal vaccines market in 2019, accounting for 41.4% share in terms of value, followed by veterinary hospitals and retail pharmacies & others segment, respectively. Increasing animal healthcare expenditure in developed and developing economies is anticipated to assist the growth of the market during the forecasted period.
The Canine segment held dominant position in the global companion animal vaccines market in 2019, accounting for 50.9% share in terms of value, followed by feline and avian, respectively. The growth of the canine segment is attributed increasing number of canine pet ownership around the globe during the forecasted period.
Major institutes are focused on developing effective vaccines against African swine fever. For instance, in January 2020, researchers from U.S. Department of Agriculture reported development of a vaccine against African swine fever that appears to be far more effective than previously developed vaccines.
Government and private organizations are focused on increasing vaccination against rabies. For instance, in January 2020, Caring for Creatures, Green Dogs Unleashed, Cat Action Team, and the Fluvanna SPCA collectively organized free rabies vaccination in Virginia, U.S.
Global Companion Animal Vaccines Market: Competitive Landscape
Major players operating in the global companion animal vaccines market include, Bayer Healthcare, Vétoquinol S.A, Boehringer Ingelheim, Ceva Sante Animal S.A., Eli Lilly and Company (Elcano), Heska Co., Merck Animal Health, Merial (Boehringer Ingelheim),Virbac, and Zoetis.
Global Companion Animal Vaccines Market: Key Developments
Scope of the report
“*” marked represents similar segmentation in other categories in the respective section.
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