Global Companion Animal Vaccines Market Segmentation, By Product Type (Attenuated Live Vaccines, Conjugate Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, DNA Vaccines and Recombinant Vaccines), Species Type (Canine, Avian, Feline and Equine), Distribution Channel (Veterinary Clinics, Veterinary Hospitals, Veterinary Research Institutes, Retail Pharmacies and Others) – Industry Trends and Forecast to 2031.
Companion Animal Vaccines Market Analysis
Individuals in the remote areas are increasingly understanding the importance of animal vaccines. Moreover, increasing pet population is further creating a huge scope of growth for the animal vaccines. Dogs and cats are increasingly being adopted especially in the developing economies. According to the annual report of the European Pet Food Industry Association (FEDIAF), dogs and cats were the most adopted animals in Europe in 2020.
Companion Animal Vaccines Market Size
Global companion animal vaccines market size was valued at USD 3.35 billion in 2023 and is projected to reach USD 5.17 billion by 2031, with a CAGR of 5.60% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Companion Animal Vaccines Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Elanco. (US), Boehringer Ingelheim International GmbH (Germany), Intervet Inc. (Germany), Zoetis Services LLC. (US), Bioveta, a.s. (Czechia), Sanofi (France), Bayer AG (Germany), Heska Corporation (US), Virbac. (France), Hester Biosciences Limited (India), Vetoquinol India Animal Health Pvt Ltd (India), Phibro Animal Health Corporation. (US), HIPRA (Spain), Novartis AG (Switzerland), Merck Sharp & Dohme Corp. (Germany), Biovet Private Ltd (India) and Ceva (France)
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Companion Animal Vaccines Market Definition
Companion animals’ vaccine are the vaccines that are given to the pets (dogs, cats and others) to stimulate their immune response. In other words, the companion animal vaccines are used to improve the functioning of immunity system in pets and other animals.
Companion Animal Vaccines Market Dynamics
Drivers
- The rise in the prevalence of diseases
Surging prevalence of chronic and acute diseases in pet animals all around the globe that require early diagnosis and on-time treatment for prevention of complications is one of the major factors responsible for fostering growth in the market value. Companion animal vaccines are used to protect the animals against diseases such as neoplasia, distemper, parvovirus, leukemia, panleukopenia, and viral rhinotracheitis.
- Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Strengthening of bond between animals and humans has further widened the scope of research and development activities which is also bolstering the market growth rate.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities.
Additionally, surge in the personal disposable income level, growing number of veterinaries in the developing economies and increasing investment for the development of advanced, governmental support in approving the medial technology, positively affect the market growth rate.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities, increasing rate of animal diseases, and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2024 to 2031. Additionally, surging number of strategic collaborations, rising internet penetration rate, concerns regarding animal diseases getting transmitted to humans, technological and biotechnological advancements regarding diagnostics and therapeutics in the developing regions and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges
On the other hand, high cost associated with the research and development proficiencies, limited infrastructural facilities and cost for storage of companion animal vaccines are expected to obstruct market growth. Also, lack of favourable reimbursement scenario and technology penetration in the developing economies, lengthy and expensive developing process and inadequate reporting systems, lack of skilled medical professionals in the developing and underdeveloped regions and lack of suitable infrastructure in low- and middle-income countries are projected to challenge the market in the forecast period of 2024-2031.
This companion animal vaccines market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the companion animal vaccines market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Companion Animal Vaccines Market
COVID-19 has significantly and negatively impacted the market. The funding for research and development activities was significantly reduced and cut down. Supply chain disruptions demoted the market demand and supply. There was a huge postponement on the non-essential medical procedures. Significant disruptions experienced by their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns has further worsened the situation. All of this proved to be a bane for the market during pandemic.
Companion Animal Vaccines Market Scope
The companion animal vaccines market is segmented on the basis of product type, species type, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Attenuated Live Vaccines
- Conjugate Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- Toxoid Vaccines
- DNA Vaccines
- Recombinant Vaccines
On the basis of product type, the companion animal vaccines market is segmented into attenuated live vaccines, conjugate vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, DNA vaccines, and recombinant vaccines.
Species Type
- Canine
- Avian
- Feline
- Equine
Based on species type, the global companion animal vaccines market has been divided into canine, avian, feline and equine.
Distribution Channel
- Veterinary Clinics
- Veterinary Hospitals
- Veterinary Research Institutes
- Retail Pharmacies
- Others
Based on the distribution channel, the companion animal vaccines market is segmented into veterinary clinics, veterinary hospitals, veterinary research institutes, retail pharmacies, and others.
Companion Animal Vaccines Market Regional Analysis
The companion animal vaccines market is analysed and market size insights and trends are provided by country, product type, species type, and distribution channel as referenced above.
The countries covered in the companion animal vaccines market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the companion animal vaccines market because of the strong base of healthcare facilities, rising adoption of companion pets by all aged people for eliminating psychological stress, increasing expenditure on veterinary care and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to the increase in government initiatives to promote awareness, governments of countries in this region are promoting pet ownership programs and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The companion animal vaccines market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for companion animal vaccines market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the companion animal vaccines market. The data is available for historic period 2010-2020.
Companion Animal Vaccines Market Share
The companion animal vaccines market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to companion animal vaccines market.
Companion Animal Vaccines Market Leaders Operating in the Market Are:
- Elanco. (US)
- Boehringer Ingelheim International GmbH (Germany)
- Intervet Inc. (Germany)
- Zoetis Services LLC. (US)
- Bioveta, a.s. (Czechia)
- Sanofi (France)
- Bayer AG (Germany)
- Heska Corporation (US)
- Virbac. (France)
- Hester Biosciences Limited (India)
- Vetoquinol India Animal Health Pvt Ltd (India)
- Phibro Animal Health Corporation. (US)
- HIPRA (Spain)
- Novartis AG (Switzerland)
- Merck Sharp & Dohme Corp. (Germany)
- Biovet Private Ltd (India)
- Ceva (France)
Latest Developments in Companion Animal Vaccines Market
- In April 2020, Boehringer Ingelheim U.K. collaborated with VetHelpDirect, that offered all U.K. veterinary practices free access to an online video consultation platform for a period of three months during the pandemic
- In September 2020, Applied DNA Sciences Inc. and Evvivax SRL announced their plans to initiate a veterinary clinical trial for LineaDNA vaccine candidates upon receiving approval for the clinical plan from the US Department of Agriculture. The goal of the vaccine trial is to evaluate the vaccine candidate as a strategy for preventing the COVID-19 (a zoonotic disease) infection in companion felines of humans
- In June 2020, Elanco received regulatory clearance for the acquisition of Bayer AG's animal health business
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