Global Veterinary Vaccines Market Size, Share & Industry Trends Analysis Report By Route of Administration, By Type, By Technology, By Distribution Channel (Veterinary Hospitals, Veterinary Clinics and Retail Pharmacies), By Regional Outlook and Forecast

Global Veterinary Vaccines Market Size, Share & Industry Trends Analysis Report By Route of Administration, By Type, By Technology, By Distribution Channel (Veterinary Hospitals, Veterinary Clinics and Retail Pharmacies), By Regional Outlook and Forecast, 2023 - 2029

The Global Veterinary Vaccines Market size is expected to reach $11.6 billion by 2029, rising at a market growth of 5.8% CAGR during the forecast period.

Companion animal vaccines constitute approximately 1/5th share of the market by 2029. Younger pets may not be able to fight off certain infectious infections on their own, and older animals still need booster shots to maintain the vaccine's ability to prevent illness spread. Pet owners are providing almost all the facilities to their pets for a better and healthy life. For example, as per the People's Dispensary for Sick Animals (PDSA) PDSA Animal Wellbeing (PAW) report published in 2023, 53% of UK adults own a pet, including 29% of the adults in the UK who own a dog, 24% own a cat, and 2% own a rabbit. This leads to a rise in companion animal vaccines.

The major strategies followed by the market participants are Acquisitions as the key developmental strategy to keep pace with the changing demands of end users. For instance, In September, 2021, NEOGEN Corporation acquired CAPInnoVet, Inc to offer NEOGEN a pathway into the parasiticide market and naturally aligns with NEOGEN's Animal Safety business segment. In addition, Ceva Santé Animale took over Zoovet and Biotecnofe in December 2022 for delivering access to a modern biotechnology facility. The facility would strengthen Ceva's activities in Latin America to aid pharmaceutical innovation.

Based on the Analysis presented in the KBV Cardinal matrix; Merck & Co., Inc. are the forerunners in the Market. In August, 2022, Merck Animal Health, a division of Merck & Co., Inc., teamed up with Iowa State University, a public land-grant research university. This collaboration would be a public-private partnership that addresses complex requirements and expedites the delivery of animal health solutions to the industry. Companies such as Boehringer Ingelheim International GmbH, Ceva Santé Animale, and Zoetis Inc. are some of the key innovators in Market.

Market Growth Factors

Increasing demand for animal-derived foods

The demand for animal-derived foods such as cattle, veal, buffalo meat, mutton, lamb and goat meat, pork, poultry, milk, dairy products, and eggs are rising. Due to the high demand for animal dietary products, the livestock industry is anticipated to experience significant expansion. As a result, the need for livestock products like beef, milk, mutton, swine, and poultry (chicken and eggs) will increase rapidly in Asia, particularly in China and India. Increasing world population trends also contribute to the rise in demand for livestock. These aspects are boosting the market growth.

Technological advancement in vaccine to raise their efficiency

Over the past decade, vaccine technology has evolved significantly. This is primarily due to the constant emergence of novel diseases or the reappearance of diseases that have undergone mutation. Traditional live and inactivated vaccines are occasionally susceptible to mutation risks and have a limited shelf life. Likewise, the difficulty of strain/region specificity renders traditional vaccines ineffective. Technological advanced DNA and recombinant vaccines are being introduced to combat these restrictions. Thus, advancements in vaccine technology to increase its efficiency will surge the market growth in the projected period.

Market Restraining Factors

The high cost of storing veterinary vaccines

Manufacturers and vaccine distributors frequently use various vaccine storage and monitoring tools, including thermometers, refrigerators, and cold chain monitors. Depending on the size of the unit and the number of vaccines being stored, this can require a sizeable investment. Also, equipment for storing vaccines must be carefully chosen, routinely maintained (including professional servicing), and consistently monitored to maintain the necessary temperature. Because of the high costs associated with this technique, small organizations and companies with limited resources typically find it unsuitable, which is expected to hinder market growth in the projected period.

Type Outlook

Based on type, the market is segmented into porcine vaccines, poultry vaccines, livestock vaccines, companion animal vaccines, aquaculture vaccines and others. The porcine vaccines segment acquired a substantial revenue share in the market in 2022. This is because pigs can be vaccinated to prevent them from a number of illnesses, including tapeworm infections, porcine reproductive respiratory syndrome, porcine parvovirus, classical swine fever, and foot and mouth disease. Some vaccines, particularly live vaccines, provide strong immunity while inactivated vaccines provide vaccinated animals a shorter duration of protection, which is expected to aid the segment's growth.

Technology Outlook

By technology, the market is classified into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines and others. The live attenuated vaccines segment held the highest revenue share in the market in 2022. This is because live vaccinations make use of a disease-causing bacterium that has been weakened (or attenuated). These vaccines produce a potent and robust immune response because they closely resemble an actual infection that they assist to avoid. Most live vaccines only require 1 or 2 doses to provide lifetime protection from a germ and the disease it produces, thereby boosting the segment's growth.

Route of Administration Outlook

Based on the route of administration, the market is bifurcated into injection vaccines, oral vaccines and intranasal/spray vaccines. The injection vaccines segment witnessed the largest revenue share in the market in 2022. The segment's expansion is predicted to be aided by the ease of administration of medications due to their sluggish absorption into the body. Additionally, the subcutaneous method of administration is less uncomfortable and speedier for animals. Furthermore, subcutaneous injectable administration is simpler to teach veterinary practitioners, which is further boosting the segment's growth.

Distribution Channel Outlook

On the basis of distribution channel, the market is classified into veterinary hospitals, veterinary clinics and retail pharmacies. The veterinary clinics segment acquired a significant revenue share in the market in 2022. This is due to the majority of veterinary clinics provide preventative health care plans for the animals under their care. This strategy may prolong the pet's period of good health. Visits to these clinics can aid in maintaining the pet's top care. Also, these clinics veterinarian can further consult about matters relating to diet, exercise, immunizations, medications, and other concerns. Therefore, boosting the segment's growth.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region led the market by generating the maximum revenue share in 2022. This is attributed to the increasing population of companion animals and the expansion of major players in several Asia Pacific nations. Animal husbandry is a significant source of income in numerous Asia-Pacific nations which is a significant reason for the region's large livestock population. In Asia-Pacific, the need for animal-based products like meat and milk is increasing, and so are livestock product revenues. Consequently, the adoption of veterinary vaccines has increased in this region as the necessity of maintaining animals' health and productivity increases.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zoetis, Inc., Merck & Co., Inc., Boehringer Ingelheim International GmbH, Elanco Animal Health, Inc., Virbac, Ceva Santé Animale, Neogen Corporation, Intas Pharmaceuticals Ltd. and Laboratoire LCV.

Recent Strategies Deployed in Veterinary Vaccines Market

Partnerships, Collaborations and Agreements:

Feb-2023: Boehringer Ingelheim Animal Health USA Inc. joined hands with Alizent, a subsidiary of Air Liquide. Following this collaboration, the companies aim to implement an advanced cold chain tracking solution to improve poultry vaccine supply chain management.

Aug-2022: Merck Animal Health, a division of Merck & Co., Inc., teamed up with Iowa State University, a public land-grant research university. This collaboration would be a public-private partnership that addresses complex requirements and expedites the delivery of animal health solutions to the industry.

Jan-2021: Merck Animal Health, a division of Merck & Co., Inc., partnered with The Street Dog Coalition, a provider of free medical care and related services. This partnership aims to deliver vaccines, treatment, and medications, for the pets of those unhoused.

Jan-2021: Virbac came into an agreement with TransAlgae, an Israel-based biotech company. Under this agreement, companies aim to develop a vaccine based on TransAlgae's breakthrough technology and are involved in a long-term business relationship.

Product launches and Product Expansions:

Sep-2022: Boehringer Ingelheim Animal Health introduced Fencovis, a new calf sour vaccine with a prevention claim, offering unresistant immunity to calves through the cows’ maternal colostrum. With Fencovis, a prevention claim against E. coli F5 and bovine rotavirus, Boehringer Ingelheim Animal Health offers a holistic lean approach to cattle farming through its support and training services.

Sep-2022: Merck Animal Health unveiled Bordetella bronchiseptica and canine parainfluenza, an oral virus vaccine. The launched product is thimerosal-free and contains no preservatives, and it serves veterinarians and support staff the capacity to deliver clients dial protection against 2 major respiratory pathogens.

Jul-2022: Virbac launched TENOTRYL (enrofloxacin), an injectable solution for use in swine and cattle. This launch aims to serve veterinarians and customers, swine and cattle producers, and also a suite of new alternatives to improve the health of livestock and finally their profitability.

Mar-2022: Ceva announced the launch of the sow vaccine, a vaccine comprising 7 antigens against the major pathogens consisting of three infectious diseases. The vaccine launched is against Neonatal diarrhoea, a common disease on a pig farm.

May-2021: Zoetis released the porcine circovirus vaccine, the only vaccine that consists of two porcine circovirus type two genotypes. The vaccine offers wider coverage against PCV2 and protection against two of the main pathogens in the worldwide pig industry.

May-2021: Boehringer Ingelheim India unveiled poultry vaccine VAXXITEK HVT+IBD, an advanced recombinant vaccine. The launched vaccine is a single-shot vaccine, making sure life-long protection for all kinds of production chickens, namely broiler, layer, and breeder.

Acquisitions, Mergers and Joint ventures:

Dec-2022: Ceva Santé Animale took over Zoovet, a company specializing in the production and marketing of animal health products, and Biotecnofe, a biotech company engaged in the development of innovative products. This acquisition would deliver access to a modern biotechnology facility. The facility would strengthen Ceva's activities in Latin America to aid pharmaceutical innovation.

Sep-2022: Zoetis, Inc. took over Jurox, a provider of livestock and Companion Animal products. Through this acquisition, Jurox brings Zoetis a spectrum of key products primed for larger global expansion, a valuable animal health suite, consisting of Alfaxan, an anaesthetic product for companion animals.

Jul-2022: Zoetis completed the acquisition of Fish Vet Group from Benchmark Holdings PLC, a leading bioagtech company. Following this acquisition, Fish Vet Group would be a strategic addition to Zoetis' Pharmaq business which develops and sells fish vaccines and provides services in diagnostics and vaccination for aquaculture.

May-2022: Ceva Sante Animale acquired Artemis Technologies, Inc., the Canadian rabies vaccine manufacturer. Following this acquisition, Ceva aims to broaden its effort in wildlife disease management and broaden its presence in the segment to North America.

Apr-2022: Ceva Santé Animale signed an agreement with Mitsui & Co., Ltd., a Japan-based investment, and trading company to form Ceva Bussan Animal Health K.K. This Joint venture aims to boost the broadening of the veterinary laboratory to Japan, a critical market for the business.

Sep-2021: NEOGEN Corporation acquired CAPInnoVet, Inc., a companion animal health company that offers pet medications to the veterinary market. This acquisition would offer NEOGEN a pathway into the parasiticide market and naturally aligns with NEOGEN's Animal Safety business segment.

Scope of the Study

Market Segments covered in the Report:

By Route of Administration

• Injection Vaccines
• Oral Vaccines
• Intranasal/Spray Vaccines

By Type

• Livestock Vaccines
• Porcine Vaccines
• Companion Animal Vaccines
• Poultry Vaccines
• Aquaculture Vaccines
• Others

By Technology

• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Recombinant Vaccines
• Others

By Distribution Channel

• Veterinary Hospitals
• Veterinary Clinics
• Retail Pharmacies

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Australia
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• Egypt
• Tanzania
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Zoetis, Inc.
• Merck & Co., Inc.
• Boehringer Ingelheim International GmbH
• Elanco Animal Health, Inc.
• Virbac
• Ceva Santé Animale
• Neogen Corporation
• Intas Pharmaceuticals Ltd.
• Laboratoire LCV

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