Global Veterinary Vaccines Market Analysis | 2023-28

Market Insights

The global veterinary vaccines market is estimated to grow from USD 10.17 billion in 2023 to USD 14.24 billion by 2028 at a CAGR of 6.96% during the forecast period.

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What are Veterinary vaccines?

Veterinary vaccines consist of vaccines that are used for the treatment and prevention of life-threatening diseases in animals. These veterinary vaccines help to reduce animal suffering and transmission of disease-causing microorganisms in the animal population. These vaccines are primarily used to improve the immunity power of animals by improving the health conditions of both companion and non-companion animals, which further prevents the transmission of diseases from animals to humans.

Key Players

Key players operating in the global veterinary vaccines market are-

• Merck & Co., Inc. (The U.S),
• Zoetis (The U.S),
• Boehringer Ingelheim International GmbH (Germany),
• Virbac, Inc. (The U.S),
• Biogénesis Bagó S.A. (Argentina),
• Indian Immunologicals Limited (India),
• Elanco (The U.S),
• Ceva (France),
• Phibro Animal Health Corporation (The U.S), and
• Neogen Corporation (The U.S).

Market Dynamics

Growing livestock population and increasing animal husbandry along with the commercialization of animal products are the prime factors augmenting the market growth.

• Also, the perpetual introduction of technologically advanced veterinary vaccines, as well as the outbreak of livestock and zoonotic diseases, further boost the product demand.
• In addition, the market has witnessed a radical shift from live attenuated vaccines to DNA vaccines and is rapidly implementing recombinant vaccine solutions, which provide immense opportunities to the industry players.
• However, the high cost of vaccines can impede market expansion.

Segment Analysis

Technology Trends

By technology, the veterinary vaccines market has been segmented into attenuated live vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and others.

• Under these, the attenuated live vaccines segment held the highest market share in 2022 and is likely to register a substantial CAGR during the review period.
• Live attenuation is the oldest vaccination method that is used in the veterinary field.
• This method is also under trial for the development of additional applications.

Regional Trends

By region, North America accounted for the highest market share in 2022 and is projected to grow at a steady CAGR during the assessment period.

• This is mainly ascribed to the increasing incidence of canine disorders, which, in turn, adoption of vaccination for the same coupled with the rising pet population in the U.S. is one of the key factors contributing to the expansion of the market share of the region.

COVID-19 Impact on Global Veterinary Vaccines Market

The outbreak of the COVID-19 virus has considerably affected the veterinary vaccines industry owing to stringent lockdown measures and the restricted movement of people. The unprecedented outbreak of coronavirus (SARS?CoV?2) has overshadowed the negatively affected veterinary vaccines industry. The veterinary appointments were canceled or postponed, thus affecting the veterinary vaccines market.

Target Audience

• Veterinary vaccines companies
• Veterinary clinics
• R&D companies
• Hospitals
• Drug manufacturing companies

Critical Questions Answered in the Report

• What are the key trends in the global veterinary vaccines market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the global veterinary vaccines market?
• What are the key strategies adopted by the major vendors to lead in the global veterinary vaccines market?
• What is the market share of the top vendors?

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.