Press release
Veterinary Vaccines Market is New Frontiers of Growth by Top Key Players Zoetis Inc. Merck Animal Health, Merial Inc., Boehringer Ingelheim, Bayer Animal Health, Elanco Animal Health, Ceva Animal Health
Veterinary Vaccines
Although global demand for veterinary vaccines is projected to remain steady in the long term, there are significant challenges from the supply side that demand immediate attention. The development of veterinary vaccines is a lengthy, high-investment process that requires an advanced level of knowhow.
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Only a small percentage of vaccinations make it to the market, and even after that, they are subject to scrutiny regarding side-effects and changing regulatory climate. In spite of these challenges, veterinary vaccinations are one of the most comprehensive preventive healthcare approaches. Their impact on human health is also immense as 75% of new pathogens emerge in animals first before making their way to humans.
Livestock commodities remain a key export product for many developing countries. However, recent assessments have shown that concerns about spread of infectious diseases restrict developed countries from importing livestock products from countries where regulations on animal healthcare are lax.
US, being the largest market for veterinary vaccines, has a major influence on the global demand and regulations. Many leading veterinary vaccine manufacturers are headquartered in the US. Pfizer and Merck, two of the largest companies in the veterinary vaccines market are at the forefront of launching innovative and next-generation vaccines.
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Pet humanization, a pervasive trend in the US and Europe, is quickly catching up in Asia Pacific. This represents a lucrative opportunity for manufacturers as the middle class households in China and India are estimate at over 500 million.
Effectively catering to the needs of this humungous group will depend to a large extent on two things – high quality products and competitive pricing. Farm owners and pet owners in Asia Pacific are inclined towards affordable vaccination programs as awareness on the long term benefits has increased in recent years. Manufacturers that tie up with local veterinary care centers and offer their products at competitive prices can unlock growth opportunities.
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Some of the major players are Zoetis Inc. Merck Animal Health, Merial Inc., Boehringer Ingelheim, Bayer Animal Health, Elanco Animal Health, Ceva Animal Health, Heska Corporation, Virbac Inc., and Indian Immunological Ltd.
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