Veterinary Vaccines Market Size Hits US$ 15,536.38 million by 2028 says, The Insight Partners

Companion Vaccines Segment is Anticipated to Register The Highest CAGR of Veterinary Vaccines Market in 2021

NEW YORK, UNITED STATES, February 10, 2022 /EINPresswire.com/ -- According to The Insight Partners 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 in 2028 from US$ 9,984.65 million in 2021; it is estimated to register a CAGR of 6.5% from 2021 to 2028.

Strategic Insights

Report Coverage Details
Market Size Value in US$ 9,984.65 million in 2021
Market Size Value by US$ 15,536.38 million by 2028
Growth rate CAGR of 6.5% from 2021 to 2028
Forecast Period 2021-2028
Base Year 2021
No. of Pages 181
No. Tables 111
No. of Charts & Figures 76
Historical data available Yes
Segments covered Vaccine Type and Technology
Regional scope North America; Europe; Asia Pacific; Latin America; MEA
Country scope US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Veterinary vaccines are parenteral products used to prevent infectious diseases caused by various pathogens. These vaccines protect animals from a variety of life-threatening diseases. Veterinary vaccines serve a critical role in ensuring the longevity, good health, and overall production of pets and livestock cost-effectively. The veterinary vaccines are classified as inactivated, live-attenuated, toxoid, and recombinant vaccines. Key factors driving the market's growth are the increasing incidence of zoonotic diseases and the rising prevalence of foodborne diseases and infections. However, strict government rules related to the usage of veterinary vaccines are hampering the market growth. The veterinary vaccines market, by region, is segmented into North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SAM). North America dominates the global market due to increased adoption of companion animals, increased consumption of meat and milk, and increased understanding of the benefits of animal immunizations.

Increasing Incidence of Zoonotic Diseases

Animals carry hazardous bacteria, viruses, parasites, and fungi to people, resulting in illness. Such diseases are known as zoonotic diseases or zoonoses. The clinical effect of zoonotic illnesses may range from mild to severe and sometimes lead to death. Zoonotic illnesses are ubiquitous in the world. As per the Center for Disease Control (CDC) projections, >6 out of every 10 existing infectious diseases in people can spread through animals, and 3 out of every 4 new or future infectious diseases in people will come from animals. Moreover, in 2016, at least 55,000 individuals perished of rabies in Asia and Africa.

In the past decades, several new infectious human diseases causing viruses, such as Ebola virus, West Nile virus, Human Immunodeficiency Virus (HIV), Nipah virus, and Hantavirus infections, have evolved from animal reservoirs. Outbreaks, such as severe acute respiratory syndrome (SARS) and avian influenza, have underlined the potential of germs from animal reservoirs to adapt to human hosts. More than three-quarters of the human diseases that are new, emerging, or re-emerging at the beginning of the 21st century are caused by pathogens derived from animals or products of animal origin. According to the WHO, ~60% of new infectious diseases identified globally are zoonoses, and every year, over 1 billion cases of illness and millions of deaths occur from zoonoses. Over 30 novel human infections have been found in the previous three decades, and 75% of these are originated from animals. Hence, the emerging and re-emerging zoonotic illnesses propel the demand for animal health. Thus, companies produce improved medications and vaccines to aid animal owners or other stakeholders to maintain the overall health of animals. Therefore, the growth in the incidence of zoonotic diseases boosts the veterinary vaccines market growth.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

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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.

Veterinary Vaccines Market: Competitive Landscape and Key Developments

Boehringer Ingelheim International GmbH; Zoetis Inc.; Merck & Co., Inc.; Virbac; BIOVAC; NEOGEN Corporation; Elanco; HIPRA; Ceva; and Hester Biosciences Limited are a few leading companies operating in the veterinary vaccines market. The companies adopt inorganic and organic growth strategies to expand their footprints and product portfolio worldwide to meet the rising demands for veterinary vaccines. In July 2021, Boehringer Ingelheim launched FreVAX smartphone app (2.0 version) for the management of FreVAX intramuscular needle-free device.

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Sameer Joshi
The Insight Partners
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Veterinary Vaccines Market is expected to reach USD 15,536.38 million by 2028