Veterinary Vaccine Market by Technology (Inactivated Vaccines, Toxoid Vaccines, Live Attenuated Vaccines, and Subunit and DNA Vaccines), by Animal Type (Companion (Equine, Canine, and Feline) and Livestock (Bovine, Ovine, Porcine, Poultry, and Others)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 6,766.5 million in 2018, and is expected to exhibit a CAGR of 6.2% over the forecast period (2020-2027).
Various manufacturers such as Zoetis, Inc., Regeneron Pharmaceuticals, Boehringer Ingelheim, and Merck are focused on conducting research projects to understand the viral diseases, in order to develop vaccination, for efficiently treating animals from various diseases. For instance, Regeneron Pharmaceuticals, Inc. and Zoetis, Inc. in June 2018, entered into a five-year collaboration to research and develop new veterinary treatments by using Regeneron's monoclonal antibody therapeutics in animals
Moreover, In January 2017, Boehringer Ingelheim and Merial officially merged, and have been going through integration since. With the inauguration of the new integrated R&D Center, the teams from both companies have now joined their forces in the R&D Center, which will leverage the broad R&D expertise to create powerful collaboration in veterinary R&D capabilities.
Furthermore, Boehringer Ingelheim, in May 2018 inaugurated its new integrated Asian Veterinary Research & Development Centre in China to enhance its research and innovation capacity.
Moreover, Aratana Therapeutics, Inc., AT-O14 Vaccine is under clinical trials for canine osteosarcoma, and similar vaccines in pipeline are expected to drive growth of the veterinary vaccine market over the forecast period.
Manufacturers are focused on adopting inorganic growth strategies such as acquisition to strengthen their market position is expected to drive growth of the market over the forecast period. For instance, in 2017, Merck Animal Health acquired Prondil S.A. Dedicated to the development of products for animal health care, particularly vaccines to local and international markets. This acquisition helped Merck to add comprehensive portfolio of vaccines for livestock into their existing product portfolio.
In addition, in 2017, Elanco, a subsidiary of Eli Lilly and Company, acquired Boehringer Ingelheim Vetmedica, Inc.’s feline, canine, and rabies vaccines portfolio. This acquisition helped Elanco to expand its companion animal portfolio by adding vaccines for bordetella, Lyme disease, feline leukemia, rabies, and parvovirus.
Browse 25 Market Data Tables and 33 Figures spread through 220 Pages and in-depth TOC on "Veterinary Vaccine Market, by Technology (Inactivated Vaccines, Toxoid Vaccines, Live Attenuated Vaccines, and Subunit and DNA Vaccines), by Animal Type (Companion (Equine, Canine, and Feline) and Livestock (Bovine, Ovine, Porcine, Poultry, and Others)), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"
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Rising number of research grants to launch various anti-cancer therapies for veterinary cancer treatment is expected to be a major factor that is expected to drive growth of the global veterinary vaccine market over the forecast period. For instance, in 2017, Animal Cancer Foundation (ACF) received US$ 1 million grant from the Blue Buffalo Foundation to support comparative oncology research to study similarities between naturally occurring cancers in people and pets, and find effective treatment for both species. Moreover, in 2016, the Petco Foundation and Blue Buffalo Foundation invested US$ 2.35 million to support pet cancer research and treatment, as it represents a major cause of illness and premature death in affected species, globally.
Key Takeaways of the Veterinary Vaccine Market: