Press release
Companion Animal Vaccine Market 2020: Industry Size & Share, Business Strategies | Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva, Merck & Co., Inc
Companion Animal Vaccine Market
The companion animal vaccines market is expected to witness significant growth during the forecast period due to increasing pet ownership. For instance, according to the American Pet Products Association's 2017-2018 National Pet Owners Survey, around 89.7 million pets are owned in the U.S. According to the same source, around 63.4 million households own pet dogs and around 42.7 million households own pet cats.
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Various manufacturers are focusing on mergers and acquisitions, in order to increase their product portfolio and geographical presence in the global companion animal vaccines market. For instance, in 2017, Boehringer Ingelheim acquired Merial, animal health business division of Sanofi. The acquisition helped Boehringer Ingelheim to strengthen its position in the animal healthcare sector.
The rising number of grants for the launch of various anti-cancer therapies for veterinary cancer treatment is expected to be a major factor driving growth of the global companion animal vaccines market during the forecast period. For instance, in 2017, Animal Cancer Foundation (ACF) received a grant of US$ 1 million from the Blue Buffalo Foundation to support an oncology research which would study similarities between naturally occurring cancers in people and pets, and find effective treatment in both species.
The global companion animal vaccines market is expected to witness considerable growth owing to increasing epidemiology of diseases such as melanoma and carcinoma. For instance, According to the study by Cancer News, 2016, grey horses over 15 years of age are more prone to develop melanoma, with an estimated prevalence of 80%. The study also states that squamous cell carcinoma is the second-most common cancer in horses, accounting for 20% of all diagnosed cancer. Moreover, incidence of ovarian cancer is 2.5% to 6% of all equine cancers.
In Europe, manufacturers are focused on development of vaccines for companion animals which is expected to favor growth of the market in this region. Manufacturers are adopting inorganic growth strategies such as acquisitions to increase their presence in the global market. For instance, in 2016, Ceva Sante Animale (Ceva) acquired Hertape Saude Animale Ltd. and Inova Biotecnologia Saude Animale Ltd., the acquisition helpded the company to expand research and development of vaccines and enter the companion animal vaccines market.
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Major players operating in the global companion animal vaccine market are Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva, Merck & Co., Inc., Virbac, Zoetis Inc, HIPRA, Biogénesis Bagó, and Ourofino Animal Health.
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