Dog Vaccine Market Size, Share & Trends Analysis Report By Vaccine Type, By Disease Type, By Route Of Administration, By Duration Of Immunity, By Component, By Region, And Segment Forecasts, 2023 - 2030

Dog Vaccine Market Size, Share & Trends Analysis Report By Vaccine Type, By Disease Type, By Route Of Administration, By Duration Of Immunity, By Component, By Region, And Segment Forecasts, 2023 - 2030

Dog Vaccine Market Growth & Trends

The global dog vaccine market size is anticipated to reach USD 2.6 billion by 2030 and display a CAGR of 6.0% during the forecast period, according to a new report by Grand View Research, Inc. The growth can be attributed to the increasing trend of pet humanization, pet ownership among millennials, and rising consciousness regarding preventive healthcare. According to Boehringer Ingelheim International GmbH, 35% of millennials and 32% of baby boomers own a pet. In addition, the rise in pet spending and insurance is also expected to add to the growth of this market. According to an article published by WorldAnimalFoundation.org in February 2023, dog owners spent approximately USD 570 more than cat owners.

Moreover, the increasing pet population, rising income levels in emerging markets of Asia-Pacific, such as China and India, and consequent changes in the lifestyle of people are expected to impact the growth of the dog vaccine industry significantly. For instance, according to an article published by the Economic Times in July 2023, the per capita income in India is expected to increase by 1.6 times to reach USD 4000 by 2030.

Dog Vaccine Market Report Highlights

• Based on vaccine type, the modified/attenuated live vaccine segment accounted for the largest revenue share of 52.4% in 2022, as they help prevent disease and provide long-term immunity
• Based on disease type, the canine rabies segment is expected to grow at the fastest CAGR of 6.9% over the forecast period due to the high prevalence of this disease and its zoonotic potential
• Based on route of administration, the injectable segment accounted for the largest revenue share of 76.1% in 2022, owing to their convenience and ability to administer accurate dosage amounts
• Based on duration of immunity, the 1-year segment dominated the market with a share of 51.2% in 2022 owing to their convenience
• Based on component, the combined vaccines segment accounted for the largest market share of 65.5%. It is expected to grow at the fastest CAGR of 6.2% over the forecast period due to its ability to protect against more than one disease
• North America dominated with a share of 38.8% in 2022, owing to the presence of major players and increasing awareness regarding preventive healthcare for pets. On the other hand, Asia Pacific is anticipated to grow at the fastest CAGR of 7.0% over the forecast period due to untapped opportunities in the emerging economies of China and India

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