According to our new research study on “Veterinary Vaccines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Vaccine Type and Technology,” the market is projected to reach US$ 15,536.38 million by 2028 from US$ 9,984.65 million in 2021; it is estimated to register a CAGR of 6.5% from 2021 to 2028. The report highlights trends prevailing in the market, and drivers and hindrances pertaining to the market growth.
According to WHO, foodborne disease (FBD) is one of the primary causes of morbidity and mortality globally, affecting a third of the world’s population each year. The diseases can be developed by several chemical pollutants, bacteria, viruses, parasites, and biotoxins and are generally referred to as neglected diseases. The spread of FBD and its repercussions are major concerns to human health. The expanding human population and changing diet trends (more protein in meals) are expected to boost the consumption of animal products to 376 million tons by 2030. The growing demand for animal products, coupled with increasing awareness about animal welfare, leads to changes in operational management.
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Pets and farm animals are susceptible to many diseases caused by bacteria, viruses, fungus, and parasites. Therefore, several techniques, such as veterinary vaccination, have been employed. The vaccines are licensed and manufactured under tight regulatory circumstances to ensure their safety, effectiveness, and quality. Veterinary vaccines against foodborne parasites improve animal health by reducing animal infections and help improve public health by managing an essential source of FBDs. In addition, vaccines safeguard farm animals by preventing or reducing the danger of certain infectious diseases.
Vaccines are a possible alternative to intensive antibiotics. In a recent cross-border expert rating of alternatives to antimicrobial drugs in pig production, vaccinations were ranked in terms of perceived feasibility and among the top five alternative techniques in terms of perceived efficacy.
The global veterinary vaccines market, based on vaccine type, is segmented into livestock vaccines, companion animal vaccines, and others. The livestock vaccines segment is likely to hold the largest market share in 2021. However, the companion animal segment is anticipated to register the highest CAGR of 7.0% during the forecast period.
The global veterinary vaccines market, based on technology, is segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, conjugate vaccines, and others. In 2021, the live attenuated vaccines segment is likely to hold the largest market share. However, the inactivated vaccines segment is expected to grow at the highest CAGR from 2021 to 2028.
Boehringer Ingelheim International GmbH; Zoetis Inc.; Merck & Co., Inc.; Virbac; BIOVAC; NEOGEN Corporation; Elanco; HIPRA; Ceva; and Hester Biosciences Limited are among the major companies operating in the veterinary vaccines market.
COVID Impacts
There have been incidences where companion animals are infected with COVID-19 through their human counterparts. As a preventive measure, various organizations vaccinate animals against COVID-19 infection. For instance, in October 2021, Cincinnati Zoo vaccinated about 80 animals against COVID-19 with two doses veterinary vaccines.
Geographically, the veterinary vaccines market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Spain, Italy, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of APAC), the Middle East & Africa (Saudi Arabia, the UAE, South Africa, and the Rest of MEA), and South and Central America (Brazil, Argentina, and the Rest of SCAM).
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