Press release
Veterinary Vaccines Market Set for 6.2% CAGR Surge, Reaching USD 13.75 Billion by 2031 | SkyQuest Technology
Skyquest Technology
Veterinary Vaccines Market [https://www.skyquestt.com/report/veterinary-vaccines-market] size was valued at USD 8.00 billion in 2022 and is poised to grow from USD 8.50 billion in 2023 to USD 13.75 billion by 2031, at a CAGR of 6.2% during the forecast period (2024-2031).
In recent times, the veterinary vaccines market is witnessing a dramatic growth due to the increasing pet adoption globally and growing awareness about animal health. Factors like rising expenses on animal health and increasing prevalence of zoonotic diseases are also further progressing the market. Lately, many government organizations and prominent companies of the market are taking various initiatives to offer veterinary healthcare, boosting the sales of the vaccines. Now, vaccines are extensively available which are effective against various diseases of livestock and companion animals. With this rising demand for vaccines from emerging economies will offer immense opportunities for the veterinary vaccines market to expand globally in the coming years.
Many government institutions are investing extensively in the pharmaceutical sector to enhance the novel veterinary vaccine manufacturing process, resulting as a catalyst to the market growth. The emergence of deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) vaccines with enhance product stability, efficiency, and route administration method is also contributing to the growth. Furthermore, the innovation of intramuscular needle-free vaccine injections and rising awareness about its benefits like less pain and better safety is augmenting the market growth. Other factors like enhancement in the medical infrastructure, constant R&D activities, and strategic partnership is also increasing the efficiency of the veterinary vaccines and positively influencing the market growth.
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Top Player's Company Profiles
* Zoetis, Inc. (US)
* Merck & Co, Inc. (US)
* Boehringer Ingelheim International GmbH (Germany)
* Elanco Animal Health (US)
* Virbac (France)
* Ceva Sante Animale (France)
* Phibro Animal Health Corporation (US)
* Hester Biosciences Limited (India)
* Neogen Corporation (US)
* HIPRA (Spain)
* Biogenesis Bago (Argentina)
* Tianjin Ringpu Bio-Technology Co Ltd. (China)
* China Animal Husbandry Group (China)
* Jinyu Bio-technology (China)
* Vaxxinova International BV (Netherlands)
* Endovac Animal Health (US)
* Brilliant Bio Pharma (India)
* Aptimmune (US)
* Indian Immunologicals Ltd. (India)
* Torigen Pharmaceuticals, Inc. (US)
* VEROVACCiNES GmbH (Germany)
* Intas Pharmaceuticals (India)
* Ourofino Animal Health (Brazil)
* Biovac (Israel)
* Laboratoire LCV (France)
Rising Awareness of New Immunization Products to Improve Animal Health to Propel Market Growth
One of the primary reasons for the rapid growth of the veterinary vaccines market is the rising awareness about animal healthcare and increase in animal ownership. Nowadays, animal owners are more aware of their animal's immunization and the latest launches in animals' vaccines that will keep them safe and healthy. Furthermore, an increase in research and development of vaccines by major market players and research institutes also boosts the market. Generally, weakened and inactive pathogens have immensely contributed to protecting animal health through animal immunization. But these inactivated vaccines can partially imitate the shortages of traditional animal immunization, like the complex immunogenicity of some bacterial pathogens. Due to factors like these recombinant vaccines have been introduced into the market. These provides many benefits like vaccinating against pathogen prevents the exposure to various immune diseases. The prevention of animal diseases that can spread to humans and cause epidemics, is another crucial factor boosting the adoption of animal immunization products.
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Segments covered
Disease
Livestock Diseases (Bovine Diseases and Small Ruminant Diseases), Poultry Diseases, Porcine Diseases, Companion Animal Disease (Canine Diseases and Feline Diseases), Aquaculture Diseases, Other
Technology
Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines and Other
Type
Livestock vaccines (Bovine Vaccines and Small Ruminant Vaccines), Poultry vaccines, Companion Animal vaccines (Canine Vaccines and Feline Vaccines), Porcine vaccines, Aquaculture vaccines, Other
Route of Administration
Injectable Vaccines, Oral Vaccines, Intranasal/Spray Vaccines
Distribution Channel
Veterinary Hospitals, Veterinary Clinics, and Retail Pharmacies.
Growing Population Leads to Increasing Demand of Livestock Production to Boost Market Growth
Veterinary vaccines increase the productivity and ensure animal health in the livestock farming. However, it is vital to feed the world's growing population it is vital to increase livestock production and have access to improved high-quality proteins. As per, FAO High-Level Expert Forum, the food production must increase by 70% between 2005 and 2050 for feeding an estimated global population of 9.1 billion people. Therefore, the vaccinations that secure animal health and increase supplies are vital components in fulfilling this objective. Furthermore, this will also minimize the requirement for antimicrobials for treating contagions in food-producing and companion animals. This is because there are rising concerns about antibiotic resistance connected to the introduction of antibiotics in human and veterinary medicines, along with their capability to mitigate thinning of organisms creating foodborne diseases. These factors are boosting the veterinary vaccines market growth.
* The Department of Animal Husbandry and Dairying in India collaborated with the United Nations Development Program in May 2024. The aim was to improve the country's animal vaccine cold chain management system.
* Boehringer Ingelheim introduced their new and innovative laboratory space in May 2024. This outstanding facility will massively evolve the future products like biotherapeutics.
* Virbacsigned a definitive agreement with ORIX Corporation signed a definitive agreement in March 2024 to acquire its animal health subsidiary. This strategic acquisition will put Virbac in a top position in Japan's farm animal vaccines market.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/veterinary-vaccines-market
Technological Advancements Leading to Betterment of Veterinary Vaccines for Animal Immunization
In the last few years, there has been various technological developments in the vaccination of animals. One of the vital developments is the emergence of DNA and other vaccines based on recombinant DNA technology. Furthermore, with innovative technologies it has become possible to benefit from increased stability and administration simplicity. For instance, the nucleic is the latest immunization process that comes under life and kill methods. The foundations of these products are the direct injection of messenger RNA or the cloning of DNA into a delivery plasmid. Many prominent players are also contributing to the constant development of tools for creating innovative and efficient veterinary vaccines, resulting in the market growth of veterinary vaccines.
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