Veterinary Vaccines Market

Veterinary Vaccines Market: Faster Innovation and Better Relationship Management Key to Garner Higher Market Shares; Global Industry Analysis and Opportunity Assessment, 2016 – 2026

Introduction

Veterinary vaccines is the most lucrative product segment of focus for veterinary drug manufacturers, followed closely by parasiticides. Given the preventive nature of veterinary healthcare, the veterinary vaccine market is estimated to witness considerable revenue traction over the coming years. With increasing incidence of food-borne zoonotic diseases, global animal production has reduced by 15%–20% a year. Growing pet animal adoption trend due to increasingly secluded lifestyles, ageing global population and increasing per capita income levels are factors promoting demand for companion animal vaccines. Effective harmonization of product development, registration and approval guidelines could reduce time-to-market for veterinary vaccines. This could benefit all key stakeholders in the veterinary vaccine value chain – governments, drug makers, distributors, farm owners and pet animal owners.  

Market Value Forecast

In terms of value, the global veterinary vaccines market is anticipated to be valued at US$ 14,149 Mn by 2026, expanding at a moderate CAGR over the forecast period.    

Market Dynamics

Growth of the global veterinary vaccines market is mainly driven by improving food security along with rising humanization of pets and adoption. Increasing foodborne and zoonotic diseases, improving public health through controlling contagious diseases such as avian influenza and rising humanization of pets and adoption are some factors excepted to drive overall growth of the veterinary vaccines market. Companies are adopting various strategies to sustain in the market and create a distinct value proposition for diverse consumer segments in order to offer cost-effective treatment for animals. This is in turn expected to drive growth of the veterinary vaccines market in developing regions.  

The global veterinary vaccines market is expected to witness impressive growth over the forecast period. However, declining influence of veterinarians, gaps in epidemiological knowledge of certain virulent veterinary diseases and pitfalls in identifying and understanding antigen/immunogenic structures are factors expected to hamper revenue growth of the global veterinary vaccines market.    

Segmentation by Product

The global veterinary vaccines market is segmented on the basis of product type into attenuated live vaccines, conjugate vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, DNA vaccines and recombinant vaccines. Among the product type segments, attenuated live vaccines segment accounts for highest market share and is expected to expand at the CAGR of 7.5% between 2015 and 2024.

Segmentation by Disease Application Type

The global veterinary vaccines market is segmented on the basis of disease application types into anaplasmosis, canine parvovirus, foot & mouth disease, newcastle disease, distemper disease, influenza, porcine reproductive & respiratory syndrome (PRRS) and others. Among the disease application type segments, foot & mouth disease segment currently accounts for highest market share.

Segmentation by Animal Type

The global veterinary vaccines market is segmented on the basis of animal type as companion animals, livestock animals and equine. Companion animals segment comprises three sub-segments namely – canine, avian and feline. Livestock segment comprises five sub-segments namely, aquatic, bovine, porcine, ovine and poultry. Among the animal type segments, livestock animals segment is expected to witness relatively impressive growth during the forecast period.

Segmentation by Distribution Channel

The global veterinary vaccines market is segmented on the basis of distribution channel veterinary clinics, veterinary hospitals, veterinary research institute and retail pharmacies. Among the distribution channel segments, veterinary clinics segment accounts for highest market share, and is expected to register a CAGR of 7.1% between 2015 and 2024.

Key Regions

By region, the global veterinary vaccines market has been segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Middle East & Africa (MEA) and Japan.

Globally, in terms of revenue, North America has been estimated to account for largest share of 30.4% in 2016, followed by Western Europe. Meanwhile, revenue from the market in Asia Pacific excluding Japan (APEJ) is expected to expand at the highest CAGR of 9.1% over the forecast period.

veterinary-vaccines-market

Key Players

Key players in the global veterinary vaccines market include Merial, Zoetis, Elanco, Merck & Co. Inc., Boehringer Ingelheim GmbH )(BIVI), Bayer Pharma AG, Ceva, Verbac, Diamond Animal Healthcare (Heska) and Indian Immunological Ltd.

Majority of players operating in the veterinary vaccines market are focused on entering into collaborations and partnerships with local distributors and retailers in order to enhance their presence in markets in various countries across the globe. Moreover, collaborations and partnerships also enable these companies to increase visibility of their products in markets across the concerned regions. Besides, companies are focusing on improving their competitive capabilities to strengthen their market presence worldwide and expand customer base. 

This Future Market Insights report examines the ‘Global Veterinary Vaccines Market’ for the period 2016–2026. The primary objective of the report is to offer updates, trends, drivers, restraints, volume and value forecasts and opportunities for manufacturers operating in the global veterinary vaccines market.

Global demand for veterinary vaccines is increasing as a result of improving food security, Improving public health through controlling contagious diseases such as avian influenza, Increasing foodborne and zoonotic diseases and Rising humanization of pets and adoption. Markets in developed economies are witnessing increasing demand for veterinary vaccines due to rising adoption of tried and tested products and the trend is expected to boost the overall demand for veterinary vaccines such as e attenuated live vaccines during the forecast period. To understand and assess the opportunities in this market, the report is categorically split into four sections, namely market analysis by product type, disease application type, animal type, distribution type and region. The report analyses the global veterinary vaccines market in terms of market value (US$ Mn).

The report starts with an overview of the veterinary vaccines market and its usage in various applications globally. In the same section, FMI covers the veterinary vaccines market performance in terms of revenue. This section includes FMI’s analysis of key trends, drivers and restraints from the supply and demand side perspective.

The next section of the report analyses the market based on product type and presents the forecast in terms of value for the next 10 years. Product types covered in the report include:

  • Attenuated Live Vaccines Market
  • Conjugate Vaccines Market
  • Inactivated Vaccines Market
  • Subunit Vaccines Market
  • Toxoid Vaccines Market
  • DNA Vaccines Market
  • Recombinant Vaccines Market

The next section of the report analyses the market based on disease application type segments and presents the forecast in terms of value for the next ten years. The disease application type segments covered in the report include:

  • Anaplasmosis
  • Canine Parvovirus
  • Foot and Mouth Disease
  • New Castle Disease
  • Distemper Disease
  • Influenza
  • Porcine Reproductive & Respiratory Syndrome (PRRS)
  • Others

The next section of the report analyses the market based on animal type segments and presents the forecast in terms of value for the next ten years. The animal type segments covered in the report include:

  • Companion Animals
    • Canine
    • Avine
    • Feline
  • Livestock Animals
    • Aquatic
    • Bovine
    • Porcine
    • Ovine
    • Poultry
  • Equine

The next section of the report analyses the market based on distribution channel segments and presents the forecast in terms of value for the next ten years. The distribution channel segments covered in the report include:

  • Veterinary Clinics
  • Veterinary Hospitals
  • Veterinary Research Institutes
  • Retail Pharmacies

Furthermore, the report analyses the market based on regions and presents the forecast in terms of value for the next ten years. Regions covered in the report include:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific Excluding Japan
  • Middle East & Africa (MEA)
  • Japan

The forecast presented for the market assesses the total revenue generated in the veterinary vaccines market. When developing the forecast, the starting point involves sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics of market, we triangulated the outcome based on different analysis of the supply side, demand side and GDP growth rate. However, quantifying the market across aforementioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed.

In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global veterinary vaccines market.

As previously highlighted, the global veterinary vaccines market is split into various categories based on region, product type, animal type and application type and distribution channel type. All these segments or categories have been analyzed in terms of Basis Point Share (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends in the global veterinary vaccines market.

Another key feature of this report is the analysis of the veterinary vaccines market by region and product type, animal type and application type and distribution channel type; and the market revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global veterinary vaccines market.