The global veterinary vaccines market size was estimated to be USD 10.62 billion in 2023 and is expected to reach at USD 23.64 billion by 2034 with a CAGR of 7.54% during the forecast period 2024-2034. Increasing technological advancements in animal immunization development, surge in introduction of several immunization products, growing awareness regarding veterinary healthcare, rising animal husbandry initiatives, increasing research & development activities, surge in prevalence of animal diseases, and rising focus on development of innovative veterinary vaccines by major market players are some of the key factors boosting the market growth.
Rising focus on development of innovative veterinary vaccines by major market players is predicted to boost the market growth during the forecast period. The administration of veterinary vaccines is a vital tool in disease prevention among animals. These products are specifically designed to stimulate protective immune responses in animals, preparing their immune systems to effectively combat future infections caused by various pathogens. They often serve as a critical component in preserving animal health by managing and preventing serious outbreaks of diseases. Hence, market players are focusing on the development of innovative veterinary vaccines. For instance, in March 2022, Alv B AS has unveiled advancements in their animal vaccine, Alvacan, which encompasses therapeutic cancer vaccines for both felines and canines. This product range merges traditional cellular immunotherapy with modern recombinant DNA/RNA technology.
By product, inactivated was the highest revenue-grossing segment in the global veterinary vaccines market in 2023 owing to increasing prevalence of viral & bacterial infections, growing research & development procedures, and rising number of clinical trials. Additionally, live attenuated is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of infectious diseases, increasing demand for novel treatments, and rising introduction of advanced products. For instance, in August 2022, In partnership with the Indian Veterinary Research Institute (IVRI) located in Uttar Pradesh, the ICAR-National Research Centre on Equines (ICAR-NRCE) in Hisar, Haryana, has successfully created a homologous live-attenuated vaccine for Lumpy Skin Disease, which is named Lumpi-ProVacInd.
By animal, companion was the highest revenue-grossing segment in the global veterinary vaccines market in 2023 owing to surge in pet animal ownership, rising concerns regarding animal health, and increasing collaborations within market players. For instance, in May 2022, Ceva Santé Animale (Ceva) has completed the acquisition of Artemis Technologies, Inc., a Canadian producer of oral rabies vaccines. This strategic move enables Ceva to extend its footprint into the North American market within this sector. Additionally, livestock is predicted to grow at fastest CAGR during the forecast period owing to a great deal of human dependence on livestock animals for numerous purposes, including meat & other animal-based goods, rising initiatives by government to ban the usage of antibiotic on livestock animals, and increasing focus on regularization of livestock vaccines.
By route of administration, parenteral was the highest revenue-grossing segment in the global veterinary vaccines market in 2023 owing to growing adoption of traditional modes of vaccinations and rising technological advancements in immunization delivery devices. Additionally, oral is predicted to grow at fastest CAGR during the forecast period owing to the surge in research & development initiatives, increasing trials with new modes of vaccination delivery, and rising launch of new products. For instance, in September 2022, Merck Animal Health has introduced NobivacIntra-Trac Oral BbPi, a product aimed at providing simultaneous protection against two significant respiratory pathogens in dogs.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in number of pet insurance, growing demand for advanced veterinary vaccines for the treatment of animals, and increasing strategic initiatives by market players. For instance, in September 2022, Merck Animal Health contributed over five million doses of its NOBIVAC rabies vaccine as a contribution towards the eradication of rabies transmitted by dogs. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of infectious diseases, growing focus on development of innovative products, surge in research & development activities, and rising launch of novel products. For instance, in June 2022, The Agriculture Minister of India introduced Anocovax, the nation's inaugural domestically created COVID-19 vaccine for animals. This vaccine has been developed by the ICAR-National Research Centre on Equines (NRC NSE) situated in Haryana.
Rising focus on development of innovative veterinary vaccines by major market players is predicted to boost the market growth during the forecast period. The administration of veterinary vaccines is a vital tool in disease prevention among animals. These products are specifically designed to stimulate protective immune responses in animals, preparing their immune systems to effectively combat future infections caused by various pathogens. They often serve as a critical component in preserving animal health by managing and preventing serious outbreaks of diseases. Hence, market players are focusing on the development of innovative veterinary vaccines. For instance, in March 2022, Alv B AS has unveiled advancements in their animal vaccine, Alvacan, which encompasses therapeutic cancer vaccines for both felines and canines. This product range merges traditional cellular immunotherapy with modern recombinant DNA/RNA technology.
By product, inactivated was the highest revenue-grossing segment in the global veterinary vaccines market in 2023 owing to increasing prevalence of viral & bacterial infections, growing research & development procedures, and rising number of clinical trials. Additionally, live attenuated is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of infectious diseases, increasing demand for novel treatments, and rising introduction of advanced products. For instance, in August 2022, In partnership with the Indian Veterinary Research Institute (IVRI) located in Uttar Pradesh, the ICAR-National Research Centre on Equines (ICAR-NRCE) in Hisar, Haryana, has successfully created a homologous live-attenuated vaccine for Lumpy Skin Disease, which is named Lumpi-ProVacInd.
By animal, companion was the highest revenue-grossing segment in the global veterinary vaccines market in 2023 owing to surge in pet animal ownership, rising concerns regarding animal health, and increasing collaborations within market players. For instance, in May 2022, Ceva Santé Animale (Ceva) has completed the acquisition of Artemis Technologies, Inc., a Canadian producer of oral rabies vaccines. This strategic move enables Ceva to extend its footprint into the North American market within this sector. Additionally, livestock is predicted to grow at fastest CAGR during the forecast period owing to a great deal of human dependence on livestock animals for numerous purposes, including meat & other animal-based goods, rising initiatives by government to ban the usage of antibiotic on livestock animals, and increasing focus on regularization of livestock vaccines.
By route of administration, parenteral was the highest revenue-grossing segment in the global veterinary vaccines market in 2023 owing to growing adoption of traditional modes of vaccinations and rising technological advancements in immunization delivery devices. Additionally, oral is predicted to grow at fastest CAGR during the forecast period owing to the surge in research & development initiatives, increasing trials with new modes of vaccination delivery, and rising launch of new products. For instance, in September 2022, Merck Animal Health has introduced NobivacIntra-Trac Oral BbPi, a product aimed at providing simultaneous protection against two significant respiratory pathogens in dogs.
North America region is anticipated for the highest revenue share during the forecast period owing to the surge in number of pet insurance, growing demand for advanced veterinary vaccines for the treatment of animals, and increasing strategic initiatives by market players. For instance, in September 2022, Merck Animal Health contributed over five million doses of its NOBIVAC rabies vaccine as a contribution towards the eradication of rabies transmitted by dogs. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of infectious diseases, growing focus on development of innovative products, surge in research & development activities, and rising launch of novel products. For instance, in June 2022, The Agriculture Minister of India introduced Anocovax, the nation's inaugural domestically created COVID-19 vaccine for animals. This vaccine has been developed by the ICAR-National Research Centre on Equines (NRC NSE) situated in Haryana.
Segmentation: Veterinary Vaccines Market Report 2022 - 2033
Veterinary Vaccines Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Inactivated
- Live Attenuated
- Recombinant
- Others
Veterinary Vaccines Market Analysis & Forecast by Animal 2023 - 2034 (Revenue USD Bn)
- Companion
- Livestock
Veterinary Vaccines Market Analysis & Forecast by Route of Administration 2023 - 2034 (Revenue USD Bn)
- Oral
- Parenteral
- Others
Veterinary Vaccines Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Veterinary Vaccines Market: Product Estimates & Trend Analysis
8. Veterinary Vaccines Market: Animal Estimates & Trend Analysis
9. Veterinary Vaccines Market: Route of Administration Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Veterinary Vaccines Market
12. Europe Global Veterinary Vaccines Market
13. Asia Pacific Global Veterinary Vaccines Market
14. Latin America Global Veterinary Vaccines Market
15. MEA Global Veterinary Vaccines Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Boehringer Ingelheim Gmbh
- Zoetis
- Vetoquinol S.A.
- Elanco
- Idexx Laboratories Inc.
- Norbrook Inc.
- Virbac
- Ceva Santé Animale
- Heska
- Dechra Pharmaceuticals Plc
- Alv B AS
- Ceva Santé Animale (Ceva)
- Merck Animal Health
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | October 2023 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 10.62 Billion |
| Forecasted Market Value ( USD | $ 23.64 Billion |
| Compound Annual Growth Rate | 7.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
