Companion Animal Vaccines Market

Key Insights

Established Companion Animal Vaccine Manufacturers are eyeing Inorganic Growth Opportunities in Latin America and Africa

Well-established manufacturers of companion animal vaccines, with occupancy largely concentrated in the U.S. and Europe, are eyeing consolidation in emerging markets to strengthen their global market foothold. These manufacturers are now targeting untapped opportunities in developing nations. Leading players are engaging in acquisitions to strengthen their foothold. For example, Merck Animal Health (Intervet) has created a strong footprint in the African continent by finalizing its acquisition of Prondil S.A. (2018). The company also acquired a controlling interest of 93% worth US$ 400 Mn in the Brazilian animal health company, Vallée S.A. in 2016 to boost its vaccines portfolio and regional presence in countries such as Paraguay, Venezuela, Bolivia and Mexico. Regional expansion by key players is leading to higher access to vaccines and thus, boosting awareness and the rate of administration.

Animal-assisted Interventions help improve Psychological Conditions and are used for Therapeutic Benefits in Developed Markets

The significant rise in stress levels across the globe is a well-noted factor across physician’s notes, journals, papers, etc. Companion animals are proven to create a positive impact on individual and community relationships. Empirical research data has established that pets improve the lives of their owners and may increase their longevity. Community relationships of pet owners are more likely to be better than those of individuals without pets. Pet owners have exhibited higher awareness regarding pet safety and their health benefits. In developed markets, many companion animals are thus used for Animal-Assisted Therapy (ATT) and Animal-Assisted Interventions (AAI) to improve mental and physical health in humans. Some of the mental health benefits include reduced anxiety, improved mental stimulation, greater physical activity and many others. As such, companion animals used for these therapies are routinely vaccinated to prevent the transfer of infection from companion animals to humans and also, prevent the frequency of illnesses among companion animals.

Increasing Prevalence of Zoonotic Diseases is fuelling the demand for Companion Animal Vaccines

The rising incidence of zoonotic diseases is creating awareness regarding zoonotic diseases and owners are increasingly inclined towards the proper care of their pets through effective vaccinations. Zoonotic diseases are very common is the U.S and globally. As per the estimates of the U.S. CDC in 2016, more than 6 out of 10 infectious diseases in people are spread by animals and 3 out of every 4 new or emerging diseases in humans are spread from animals. As per a report published by CGSpace, of the 1,415 pathogens known to infect humans, 61% are zoonotic. Furthermore, in March 2013, the outbreak of the H7N9 strain of avian influenza in humans from wild or domestic birds had reached epidemic stages. Around 109 human cases were diagnosed in April, 2013.

Companion Animal Vaccines are pegged to remain on the Crest of the Demand Graph with External Partnerships in the Research and Development of Vaccines

Collaborations in the development of biologics for companion animals between the industry and the academia have been increasing. Bayer and BioNTech AG entered into an agreement in May 2016 to develop novel, first-in-class mRNA vaccines for both companion animals and production animals. In 2017, MSD entered into a new partnership with Laboratorios LETI to distribute LetiFend, the first recombinant vaccine in Europe for the prevention of canine leishmaniasis, a serious disease caused by infection with the parasite Leishmania infantum. The agreement would allow MSD Animal Health to have exclusive rights to distribute companion animal vaccines in countries such as France, Italy, Greece and the United Kingdom. The distribution rights in Spain and Portugal would, however, remain with LETI. The disease leishmaniasis has been classified as a Neglected Tropical Disease by the World Health Organization with limited treatment options. This proves that developing and commercializing truly innovative and disruptive prophylactic products is expected to prove beneficial to pet owners and enhance the revenue growth of the companion animal vaccine market over the forecast period.

Ever-Evolving Regulations are Influencing Manufacturers to Comply with Necessary Standards and thus, Influence Product Pricing

Taking into consideration the need for delivering safe companion animal vaccines, manufacturers of companion animal vaccines need to meet the stringent product development, storage, transport and safety requirements developed by regulatory bodies across the world. Attributing to the rise in the number of consumers who can afford these pricey branded products across the world, manufacturers in the companion animal vaccine market are expending extra efforts into pursuing necessary certifications and fulfilling registration requirements from governing bodies. Companion animal vaccine manufacturers and distributors need to have product importation licenses and seed bank/stock piles and are required to fulfill risk assessment reviews to enter into markets other than their home market. This may make the market more challenging for market players to mitigate manufacturing costs and maintain a competitive product price.

Market Players can Capitalize on the Availability of Pet Insurance to Amplify Sales

Pet insurance in the U.S is currently growing but the increase in enrollment is around 10% per year. Some European countries such as Sweden, the U.K. and a few other Scandinavian countries already have high pet penetration. Pet insurance acts as a decision maker to the companion animal health value chain, which includes third-party payers. As the health and wellness trend is encouraging consumers to get their pets adequately vaccinated, the demand for companion animal vaccines has been witnessing a rising spiral, which is ultimately boosting the revenue growth of the companion animal vaccine market. Manufacturers of companion animal vaccines are focusing on spreading awareness regarding the added benefits of vaccinating companion animals to restrict the spread of diseases from animals to human beings.

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Competitive Landscape

The FMI report provides detailed information regarding the growth parameters of the companion animal vaccine market with the help of a detailed assessment of the competitive environment in the companion animal vaccine market. The market study provides comprehensive data on each stakeholder in the companion animal vaccine market, including Bayer Healthcare, Vetoquinol S.A., Boehringer Ingelheim, Ceva, Elanco (Eli Lilly), Heska Co., Merck Animal Health, Merial (Sanofi), Virbac, Zoetis (Pfizer). The report provides readers with all-encompassing data on each manufacturer’s revenue shares, winning strategies, and the latest information on mergers and acquisitions in the companion animal vaccine market.

The rapidly-growing companion animal vaccine market in emerging economies is taking center stage. In light of this, Zoetis (Pfizer) has announced the opening of a state-of-the-art vaccine manufacturing facility in China from 2018. The facility would cater to both manufacturing and research and development and will produce vaccines for farm animals as well as companion animals. This will help the company to tap the large Chinese market as well as markets in India and other strategic Asian countries. Other established manufacturers in the companion animal vaccine market, such as MSD, are focusing on establishing stronger presence in developing nations in Latin America, Asia Pacific and Middle East & Africa. The trade flow of vaccines from established markets to underdeveloped markets is expected to witness double-digit growth rates with development in vaccine storage facilities.

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Definition

Companion animal vaccines are biologics used for pet animals. They can be manufactured from live microorganisms as well as from microorganisms such as viruses, bacteria and others that have been killed through physical or chemical processes. Conjugate vaccines are antigen or toxoid containing preparations linked to polysaccharides. These vaccines stimulate the immature immune system to defend against disease causing organisms. Vaccines that contain only the antigenic parts of the pathogen are subunit vaccines.

About the Report

The study on the companion animal vaccine market was recently published by FMI. It provides comprehensive information about the most important market dynamics that prove instrumental in the growth of the companion animal vaccine market during 2016-2026. Market players can find the most accurate quantitative and qualitative information about the growth parameters of the companion animal vaccine market in the report, which can help them develop data-driven business strategies in the coming future.

Segmentation

For the better understanding of readers, the FMI report provides salient information about the companion animal vaccine market in the most comprehensive manner. The companion animal vaccine market has been segmented by geographical region, product type, species type and distribution channel, to analyze the segment-wise growth of the market. From a geographical perspective, the companion animal vaccine market has been segmented into six regions – North America, Latin America, Western Europe, Eastern Europe, Japan, Asia-Pacific Excluding Japan (APEJ) and the Middle East & Africa (MEA). The companion animal vaccine market has been segmented by product type into attenuated live vaccines, conjugate vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, DNA vaccines and recombinant vaccines. By species type, the companion animal vaccine market has been segmented into canine, avian and feline. On the basis of the distribution channel, the companion animal vaccine market has been divided into veterinary hospitals, veterinary clinics, veterinary research institutes and retail pharmacies & others.

Additional Questions Answered

Readers can find detailed information regarding the important factors augmenting and the growth of the companion animal vaccine market during the forecast period. Additionally, the report also contains valuable information that can provide companion animal vaccine market players with answers to critical questions, such as

• Which types of companion animal vaccines account for the maximum demand? What factors attribute to their high demand share?
• Why is the sales of companion animal vaccines highest in North America?
• Which regulations in various regional segments are influencing the strategies of players in the companion animal vaccine market?
• Why is APEJ currently gaining attention from most of the leading manufacturers of companion animal vaccines?

Research Methodology

The process of market research followed at FMI commences with extensive secondary research of the companion animal vaccine market. Analysts obtain industry-validated, historic and current data about the demand and sales of companion animal vaccines across the globe. The comprehensive secondary research is followed by primary research, where detailed information about the companion animal vaccine market is obtained in terms of value (US$ million). Based on the thorough secondary and primary research of growth parameters of the companion animal vaccine market, analysts have come up with the most precise forecast on how the companion animal vaccine market will grow during the forecast period.

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