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Companion Animal Vaccine Market to See Booming Growth 2021-2028 | Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva, Merck & Co., Inc.

10-28-2021 03:18 PM CET | Health & Medicine

Press release from: Coherent Market Insights

Companion Animal Vaccine

Companion Animal Vaccine

Global Companion Animal Vaccine market analysis

Impact of COVID-19 Pandemic

COVID-19's accelerated dissemination around the world is causing a problem for veterinary medicine around the world. There is currently no evidence that domestic animals or livestock such as cats and dogs are spreading the COVID-19 virus to other animals or humans, according to the US CDC (Centers for Disease Control and Prevention) and the American Veterinary Medical Association.

Most veterinary veterinarian visits are performed by telemedicine, such as video calls from cell phones or tablet computers, due to social distancing policies. In April 2020, Boehringer Ingelheim U.K. partnered with VetHelpDirect to provide free access to an online video referral network to all U.K. veterinary practises for three months during the pandemic. The online portal is an alternative to face-to-face treatment, allowing animals to receive ongoing treatment and still shielding clients and workers from the spread of COVID-19.

Overview

Companion animal vaccines are important for maintaining the survival, good health, and overall efficiency of pets while being cost-effective. Vaccines for companion animals limit disease spread from animals to humans. Companion animal vaccines are parenteral products used in the prevention of diseases like cat scratch disease, blastomycosis, psittacosis, and others.

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Drivers

Due to rising pet ownership, the global companion animal vaccines market is expected to rise significantly during the forecast period. As per the American Pet Products Association's 2017-2018 National Pet Owners Survey, the U.S. has about 89.7 million pet owners. The same source added that approximately 63.4 million households in the United States owned pet dogs and approximately 42.7 million households owned pet cats in 2017-2018.

In 2020, the global companion animal vaccine market is projected to be worth US$ 2,847.7 million, with a CAGR of 6.5 percent during the forecast period (2020-2027).

Boehringer Ingelheim, Regeneron Pharmaceuticals, Merck, and Zoetis, Inc., among others, are undertaking research projects to understand viral diseases and develop vaccines for treating animals suffering from infectious diseases. During the forecast period, this is expected to fuel growth of the global companion animal vaccine market.

Regeneron Pharmaceuticals, Inc. and Zoetis, Inc. announced a five-year research partnership in June 2018. Zoetis, Inc. will use Regeneron's monoclonal antibody therapeutics in pet animals as a part of this scientific partnership and discover novel veterinary therapies for infectious diseases.

Moreover, during the forecast period, increasing funding for research and development of new goods is expected to fuel business growth.

The Blue Buffalo Foundation awarded the ACF (Animal Cancer Foundation) a $1 million grant in June 2017 to finance comparative oncology studies to investigate correlations between naturally occurring cancers in humans and pets, and to discover successful treatments in both people and pets.

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Over the forecast period, the market is projected to expand due to an increase in the acceptance and launch of novel goods.

The clearance and introduction of innovative vaccines for the care of service animals is expected to fuel demand growth during the projected period, according to key players in the market.

Versican Plus Bb Oral, the first oral vaccine for dogs in Europe, was launched by Zoetis, a leading animal health organisation, in October 2019. With current simple oral administration, the vaccine offers robust, long-lasting defence against Bordetella bronchiseptica, a key component of the CIRDC (canine infectious respiratory disease complex).

Furthermore, AgriLabs, a biopharmaceutical firm, obtained approval from the USDA (United States Department of Agriculture) for the first DNA vaccine for chickens in November 2017. The approval is also a first for AgriLabs' ExactVac DNA technology with ENABL adjuvant, which is the first DNA vaccine approved for veterinary use for influenza and one of the first DNA vaccines approved in the United States for food animals.

Restraints

Vaccine manufacture is expensive and requires a complicated production process. All vaccines for poultry and fish must be stored frozen, and technicians dealing with frozen vaccines must contact the vendor for precise storage orders, which necessitates a significant investment in storage. During the forecast period, these trends are likely to stifle business growth.

Key Players

Key companies contributing in the global companion animal vaccine market include Merck & Co., Inc., HIPRA, Ceva, Elanco Animal Health Incorporated, Ourofino Animal Health, Boehringer Ingelheim GmbH, Zoetis Inc., Biogénesis Bagó, and Virbac.

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

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