The veterinary vaccines market is estimated to reach USD 9,433.9 million in 2024. It is estimated that revenue will increase at a CAGR of 5.2% between 2024 and 2034. The industry is anticipated to reach USD 15,632.4 million by 2034.
To provide their beloved companions with superior care, people who have pets, such as dogs, cats, and birds among others, are embracing better commodities as well as better services for them. This embrace involves spending more money on good pet food, advanced veterinary treatment methods, and preventative measures of health as well as new technology that improves an animal’s life.
For example, The American Pet Products Association stated that in 2023 USA pet spending increased to USD 147 billion, or 58% more than it that year, showing an enormous increase in expenditure on animals’ welfare. Such high expenditure rate on pets will have robust opportunities to the key players in the industry to explore and fulfill changing needs of pet owners and animal habits.
Veterinary Vaccines Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 8,979.7 million |
| Estimated Size, 2024 | USD 9,433.9 million |
| Projected Size, 2034 | USD 15,632.4 million |
| Value-based CAGR (2024 to 2034) | 5.2% |
Vaccine developments are is on the rise aid by the increased R&D investments by government entities are creating a robust opportunities to the vaccine industry. These millions of dollars’ worth of investments indicate a well thought out plan to enhance animal health by coming up with new vaccines.
For instance, large sums of money are being pumped into vaccine development for animals by America and Great Britain in recent times. These monies, which run into millions, have been channeled to different segments of the veterinary vaccine industry such as research institutions, universities, public entities and industry players.
The funding has helped to initiate research initiatives that are intended to tackle common diseases in livestock as well as enhancing the effectiveness of veterinary vaccines.
More precisely, according to the Global AMR R&D Hub, nearly 80% or USD 54 million out of 53 projects in 2021 found their way from USA, Great Britain and European Union (EU) which separately contributed USD 19 million, USD 18 million and USD 16 million.
In the context of this study, universities and public research institutions each were given about 33% amounting to 23 million dollars and 20 million dollars respectively, public bodies got 19% which is 13 million dollars while the rest was shared out among industry, private research institutions as well as others in an amount that accounts for fifteen percent or eleven million dollars.
The significant spending by the government of animal medicine development has greatly contributed to the growth of veterinary vaccine industry which has been largely driven by investments in various sectors of the industry which have cumulatively stretched to millions of dollars toward research, innovation, and commercialization in the industry.
As a result, the industry is poised for growth, as new chances have been arising pointing towards addressing changing requirements in the matter of global animal health and welfare.
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Rising Poultry Farms and Vaccination Programs Aiding in Market Growth
An uptick in chicken farms around the world will drive the growth of veterinary vaccine industry further forward with particular emphasis on Asia where there has been noted an increase in the demand for meat consequently leading to more output.
In 2022, Asia was the first producer of chicken meat with 38% of total world production according to FAO (Food and Agricultural Organization) statistics. This is likely to be a growing dominance encouraged by continuous financial investments as well as governments’ motivations to boost agricultural growth.
These subsidies are essential in order to decrease production costs, hence rendering poultry farms economically feasible. Nonetheless, it should be noted that even though they increase output, social and environmental costs are usually overlooked in their implementation.
Thus, there is need for more attention on disease prevention strategies that could be implemented so as to prevent possible health hazards of intensive poultry farming activities.
In responding to the upsurge in chicken industry, veterinary vaccine demand is predicted to increase dramatically. Vaccination programs are critical for keeping chicken stocks healthy and protecting them from any disease outbreak risks. It is the veterinary vaccine industry that will help sustainable and resilient poultry farming practices as the poultry industry expands.
Impact of Nanotechnology on Vaccine Developments to Propel the Market Growth
Self-assembled protein nanoparticles (SAPNs) are an advanced tool with considerable potential to innovate the methodology of vaccine design and administration in veterinary medicine. They provide a promise for high throughput discovery of novel veterinary vaccines that have better efficacy as well as safety using nanotechnology.
SAPNs and virus-like particles Infectious diseases (VLPs) are now employed as very adaptive platforms used in the development of vaccines and they have got many advantages over traditional vaccine composition. These particles are able to take the form and behave like pathogens, making them able to stir up strong immune mechanisms if need be without necessarily involving any disease forming activities themselves.
Besides, by their mimicry nature where they self-assemble, it is possible to direct the way in which the vaccine is made up as well as how antigens get introduced which in turn raises vaccine effectiveness.
There is a great opportunity for the veterinary vaccine industry with regards to the replacement of SAPNs and VLPs by veterinarians. A solution to the problems of animal health that are not met yet is possible through use of these modern platforms. This is because they offer new ways of controlling infectious diseases among farm animals and pets.
Moreover using them can lead into more effective methods for vaccinating animals that would eventually enhance their welfare and productivity.
Expansion of Manufacturing Facilities in the Vaccines Development to Gain the Market Opportunity
An important trend promoting the growth of the veterinary vaccines industry is the extension of the core players’ production facilities. This has resulted in the top players in the sector investing in expanding and refining their manufacturing capacity in a bid to meet the rapidly increasing demand for animal health solutions.
This growth is caused by the ongoing animal health solution requirement rising faster and the leading companies making extra investments to outperform others in making their production systems perfect.
One of key example of this is the investments for development of an animal vaccine production plant in the province of Brabant in the Netherlands by MSD Animal Health on a date called January 26th, 2023. This center, which is located in Boxmeer, is the biggest in the world in the field of animal vaccine production, with a capacity of 55 billion doses produced every year at a minimum.
In conclusion, the increasing investment in factories is a clear indication that industry players are ready to meet the high demand for veterinary vaccines. Furthermore, in addition to expanding their manufacturing capabilities, companies’ investments go into sophisticated production technologies so as to maintain high levels of quality as well as improve efficiency when manufacturing vaccines.
This is essential when it comes to both meeting industry requirements which continue to increase every day, and also improving animal health.
Rising Vaccine Hesitancy and Its Impact on the Veterinary Vaccine Market
One principle element that hinders the growth of the veterinary vaccine industry is the rising occurrence of vaccine hesitancy and refusal to inoculate among pet owners. Especially in developed countries, this apathy is becoming increasingly apparent and is motivated by numerous fears and misapprehensions regarding vaccine safety and need.
As of April 2019, one in four British dogs and one in three cats are either not vaccinated or even complete their primary vaccination schedules, according to data from the Federation of European Companion Animal Veterinary Associations (FECAVA). Though many animals receive their initial injections, only around two-thirds get subsequent ones.
The vaccination rates are at their lowest ever in the UK, possibly going below the herd immunity threshold. As indicated by vets, developed nations like the USA and Australia also have the same scenario where a growing number of pet parents are hesitant to vaccinate their animals as a result of anti-vaccination sentiments.
The veterinary vaccine business is experiencing a major problem with the rising trend of people declining vaccinations. Fewer animals receive immunization and this results in decreased efficiency of vaccination programs, consequently raising the epidemic chances.
Thus, the only way to curb the menace is by educating pet owners on the importance and safety of vaccines while at the same time demystifying the notion as well as phobias against vaccination.
The veterinary vaccines industry recorded a CAGR of 3.5% between 2015 and 2023. According to the industry, veterinary vaccines generated USD 8,979.7 million in 2023, up from USD 6,835.1 million in 2015.
Several factors are responsible for the consistent or gradual growth the veterinary vaccine sector has experienced over the past ten years. New products take longer time to be introduced into the market because producing and validating animal vaccines requires thorough processes while facing stringent regulatory barriers.
In addition, it is expensive and time-consuming for innovations in the product due to the high costs of research and development, which also contributed to this venture being established. Additionally, in certain regions, a lack of understanding of the significance of animal vaccination has slowed down adoption rates.
Several factors are anticipated to fuel significant growth in the veterinary vaccine market in the near future. For example, there has been increased demand for efficient vaccines to prevent outbreaks for various animal diseases because their risks are on the rise, including those transmitted from animals to humans and those affecting livestock.
Development in the field of biotechnology and that of vaccine production is also leading to a greater variety and quality in terms of effectiveness. Furthermore, the market for companion animals is expanding due to an increase in the number of people who own pets in developing nations.
Government's partnerships and the support they provide, such as funds, and the simplifying of the licensing process, are some other ways that are believed to enhance industry growth. More convincing promotional activities encouraging people to get their pets vaccinated, emerging-market economic growth and the livestock industry are a part of the factors that will lead to the stable growth of the veterinary vaccine industry in the long run.
Principal Consultant
Companies in the Tier 1 sector account for 66.1% of the global market, ranking them as the dominant players in the industry. Tier 1 players offer a wide range of vaccines for the livestock as well as companion animals, have an established industry presence, offer continuous innovation, and have a significant influence in the field.
Prominent companies within Tier 1 include Merck & Co., Inc. (MSD Animal Health), Zoetis Services LLC., Boehringer Ingelheim International GmbH and Elanco (Eli Lilly)
Tier 2 players dominate the industry with a 24.2% market share. Tier 2 firms concentrate on its reputation for quality, regulatory compliance, and continuous innovation, combined with comprehensive support services and strategic partnerships. Tier 2 companies include Ceva, Kemin Industries, Inc., Virbac, Jinyu Biotechnology Co., Ltd., Vaxxinova, Indian Immunologicals Ltd., Phibro Animal Health Corporation and Others.
Compared to Tiers 1 and 2, Tier 3 companies with smaller revenue spouts and less influence. Prominent players in this tier are Biogénesis Bagó, Ourofino, HESTER BIOSCIENCES LIMITED, Bioveta, Inc., HIPRA, LETI Pharma and Others
An analysis of the veterinary vaccines industry is provided in various countries. Several regions throughout the world are examined, including Asia Pacific, North America, Europe and Middle East. China is forecast to remain the leader of Asia Pacific with a 7.9% CAGR through 2034. The United States is predicted to exhibit a 6.1% CAGR by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 6.1% |
| China | 7.9% |
| Germany | 5.0% |
| UK | 5.7% |
| Japan | 4.5% |
| India | 7.5% |
The USA was observing a rapid growth in veterinary vaccines because of the growing number of dogs suffering from arthritis. There is a major concern associated with diseases such as osteoarthritis had become very common diseases that affect dogs in veterinary industry. A study published in NCBI in the year 2022 showed that veterinarians confirmed 188(38%) out of 500 diagnosed dogs with the disease arthritis.
An urgent necessity for impactful veterinary interventions is increasingly becoming apparent with regard to the rising case of osteoarthritis and is driving up the veterinary vaccines industry in the USA as more pet owners show keen interest in controlling or preventing joint diseases from happening to their pets hence escalating demand for elaborate veterinary treatment that includes vaccination among other things.
This trend is driving innovation and expansion in the veterinary healthcare market, ensuring that more pets receive the necessary preventive and therapeutic treatments to maintain their quality of life.
A CAGR of 5.0% is predicted for the forecast period due to rising pet ownership. In 2023, a report by the Association of Zoological Specialist Companies (ZZF) indicated that 45% of German households had at least one pet. The recent increase in demand for veterinary vaccines in Germany is due to the large number of pet owners in the country.
Therefore, the number of families that keep pets has been increasing, which results in the growing concern about animal health and welfare.
However, despite the increased number of families living with pets, preventing illness among domestic animals remains crucial to an overwhelming majority of pet owners. Rising consciousness and dedication to animal welfare result in an increased need for animal vaccinations, driving their use within veterinary practice as well as animal husbandry in general.
Concomitantly, stringent legal provisions with respect to animal wellbeing alongside high levels of veterinary expertise present in Germany propel expansion as well as creativeness throughout these sectors. This serves to ensure that pets remain healthy by keeping them safe from illnesses.
The increasing meat production Self-assembled protein nanoparticles in China is significantly boosting the veterinary vaccine market. According to the National Bureau of Statistics China, China produced 57.94 million tonnes of pig meat in 2023, which represented a 5% increase from the previous year.
A rise in slaughter rates led to overstocking of the domestic industry whereas shrinking margins force most of the animals to be slaughtered, thus increasing the outputs that require strict veterinary and husbandry practices.
The increased demand for efficacious veterinary health measures emphasizes the importance of vaccinations to prevent occurrences of diseases that may negatively affect the quality of the animals. Additionally, the expanding meat industry underlines the necessity of veterinary vaccines in maintaining animal well-being and health.
Healthy livestock keep the industry going and enable it to grow thereby assisting to meet production demands and keeping the agricultural economy stable in general in China.
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A description of the leading segments in the industry is provided in this section. Inactivated vaccines technology segment held 32.5% of the value share in 2023 by technology category whereas, livestock are the leading animals with high share of 55.2% in the market. Based on the disease indication, Newcastle disease held 26.0% of the industry in 2023.
| Technology | Inactivated Vaccines Technology |
|---|---|
| Value Share (2024) | 32.5% |
Inactivated vaccines are highly sought after because of their safety and stability compared to other types of vaccines, especially when addressing the risks of reversion seen with live vaccines; this is very important in stopping possible outbreaks from strains in their vaccines emanating from a virus resurgence potential issue.
Unlike the attenuated ones, the inactivated vaccines often prove the stability that makes them longer lasting. They are less sensitive to temperature fluctuations, making storage and transport easier, especially in regions with less reliable cold chain infrastructure.
On the other hand, inactivated vaccinations employ non-replicating antigens compared to live attenuated vaccines. As a result, inactivated vaccines frequently need to be administered more than once and have the drawbacks of having a high dose, a brief immunization interval, and a single delivery system.
| Animal | Livestock Animals |
|---|---|
| Value Share (2024) | 55.2% |
Livestock animals are the industry leaders in terms of economy of scale as well as public health awareness. For example, healthy animals produce more and better yielding greater quantities of milk, meat, and wool. The containment of diseases via vaccination has been fronted as one of the key ways to enhance productivity hence continuous earnings for farmers at large.
Ensuring that animals stay healthy and productive by immunizing them makes a significant contribution to an abundant food supply. It is necessary to meet the dietary needs of increasing world human populace for it to get nourished. However, certain livestock diseases may be zoonotic; which means they can be transmitted by animals to people.
The vaccines given to animals help curb these illnesses and in turn minimize human outbreaks thus promoting public health protection.
| Disease Indication | Newcastle Disease |
|---|---|
| Value Share (2024) | 26.0% |
According to the Animal and Plant Health Agency, Newcastle Disease (ND) is one of the key disease indicators that can be observed in various poultry farming locations (APHA). There was an outbreak of Newcastle disease (ND) caused by highly pathogenic Avian Paramyxovirus Type 1 (APMV-1) in many French commercial poultry farms this January 2023.
Due to the increased need to control and prevent extra spread, there is an urgent demand for safe vaccination strategies against the highly infectious conditions endangering poultry production and health. Increased frequency of such incidences therefore emphasizes the vital role of strong vaccination programs meant to sustain the industry’s health status as well as its financial viability.
The veterinary vaccines industry is consolidated with the presence leading manufacturers. Key players in the livestock vaccination industry are increasingly focusing on product development, including obtaining approvals from regulatory bodies and launching new products.
The launch of new vaccines following regulatory approvals not only addresses emerging disease threats but also meets the growing demand for advanced veterinary solutions, thereby strengthening the industry presence of these companies.
Recent Industry Developments in the Veterinary Vaccines Market
In terms of technology, the industry is segregated into attenuated live vaccines technology, inactivated vaccines technology, subunit vaccines technology, toxoid vaccines technology, and DNA vaccines technology
In terms of animal, the industry is segregated into companion animals (canine, avian, and feline), livestock animals [ruminants, camels, sheep, goats, poultry (breeders, broilers, and layers), equine, bovine, porcine], and aquaculture.
In terms of disease indication, the industry is segregated into Foot & Mouth Disease (FMD), Newcastle Disease, Porcine Reproductive & Respiratory Syndrome (PRRS), Canine Parvovirus, Brucellosis, Avian Influenza, and others
In terms of distribution channel, the industry is segmented into veterinary hospital pharmacies, veterinary clinics, retail pharmacies, and online pharmacies.
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, Central Asia, Russia & Belarus, Balkan & Baltic Countries, and Middle East & Africa have been covered in the report.
Dental fluorescence analyzers are expected to increase at a CAGR of 5.2% between 2024 and 2034.
The inactivated vaccine technology segment is expected to occupy a 32.5% market share in 2024.
The market for veterinary vaccines is expected to reach USD 15,632.4 million by 2034.
The United States is forecast to see a CAGR of 6.1% during the assessment period.
The key players in the veterinary vaccines industry include Merck & Co., Inc. (MSD Animal Health), Zoetis Services LLC., Boehringer Ingelheim International GmbH and Elanco (Eli Lilly), Ceva, Kemin Industries, Inc., Virbac, Jinyu Biotechnology Co., Ltd., Vaxxinova, Indian Immunologicals Ltd., Phibro Animal Health Corporation and Others
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand (Value in USD) and Volume (Units) Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Global Market - Pricing Analysis
6. Global Market Analysis 2015 to 2023 and Forecast 2024 to 2034
6.1. By Technology
6.2. By Animal
6.3. By Disease Indication
6.4. By Distribution Channel
6.5. By Region
7. Global Market Analysis 2015 to 2023 and Forecast 2024 to 2034, by Technology
7.1. Attenuated Live Vaccines Technology
7.2. Inactivated Vaccines Technology
7.3. Subunit Vaccines Technology
7.4. Toxoid Vaccines Technology
7.5. DNA Vaccines Technology
8. Global Market Analysis 2015 to 2023 and Forecast 2024 to 2034, by Animal
8.1. Companion Animals
8.1.1. Canine
8.1.2. Avian
8.1.3. Feline
8.2. Livestock Animals
8.2.1. Ruminants
8.2.2. Camels
8.2.3. Sheep
8.2.4. Goats
8.2.5. Poultry
8.2.5.1. Breeders
8.2.5.2. Broilers
8.2.5.3. Layers
8.2.6. Equine
8.2.7. Bovine
8.2.8. Porcine
8.3. Aquaculture
9. Global Market Analysis 2015 to 2023 and Forecast 2024 to 2034, by Disease Indication
9.1. Foot & Mouth Disease (FMD)
9.2. Newcastle Disease
9.3. Porcine Reproductive & Respiratory Syndrome (PRRS)
9.4. Canine Parvovirus
9.5. Brucellosis
9.6. Avian Influenza
9.7. Others
10. Global Market Analysis 2015 to 2023 and Forecast 2024 to 2034, by Distribution Channel
10.1. Veterinary Hospital Pharmacies
10.2. Veterinary Clinics
10.3. Retail Pharmacies
10.4. Online Pharmacies
11. Global Market Analysis 2015 to 2023 and Forecast 2024 to 2034, by Region
11.1. North America
11.2. Latin America
11.3. East Asia
11.4. South Asia and Pacific
11.5. Western Europe
11.6. Eastern Europe
11.7. Middle East and Africa
12. North America Sales Analysis 2015 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. Latin America Sales Analysis 2015 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. East Asia Sales Analysis 2015 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. South Asia & Pacific Sales Analysis 2015 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Western Europe Sales Analysis 2015 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Eastern Europe Sales Analysis 2015 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. Middle East and Africa Sales Analysis 2015 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
19. Sales Forecast 2024 to 2034 by Product, Animal, Disease Indication and Distribution Channel for 30 Countries
20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
21. Company Profile
21.1. Bioveta, Inc.
21.2. Merck & Co., Inc. (MSD Animal Health)
21.3. Zoetis Services LLC.
21.4. Elanco (Eli Lilly)
21.5. Ceva
21.6. Boehringer Ingelheim International GmbH
21.7. Kemin Industries, Inc.
21.8. HESTER BIOSCIENCES LIMITED
21.9. Phibro Animal Health Corporation
21.10. Virbac
21.11. LETI Pharma
21.12. Ourofino
21.13. HIPRA
21.14. Jinyu Biotechnology Co., Ltd.
21.15. Indian Immunologicals Ltd.
21.16. Vaxxinova
21.17. Biogénesis Bagó
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Veterinary Vaccines Market
