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Companion Animal Veterinary Vaccines Market Forecast 2025-2034: Comprehensive Analysis And Growth Opportunities
Companion Animal Veterinary Vaccines
What Is the Projected Growth of the Companion Animal Veterinary Vaccines Market?
The companion animal veterinary vaccines market has grown steadily and is predicted to increase from $3.66 billion in 2024 to $3.88 billion in 2025 at a CAGR of 6.0%. Growth in prior periods was supported by a rise in pet ownership, preventive care practices, concerns over zoonotic diseases, and vaccine innovations.
The companion animal veterinary vaccines market is projected for strong growth in the coming years. It will grow to $5.09 billion by 2029, with a CAGR of 7.0%. This growth is driven by an increasing pet population, greater awareness of preventive healthcare, advancements in vaccine technology, and customized vaccination plans. Key trends include comprehensive vaccination programs, advanced vaccine technologies, and the rise of mobile services for vaccines.
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What Are the Different Companion Animal Veterinary Vaccines Market Segments?
The companion animal veterinary vaccines market covered in this report is segmented -
1) By Product: Inactivated, Live Attenuated, Recombinant, Other Products
2) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
3) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores, Other Distribution Channels
Subsegments:
1) By Inactivated: Inactivated Canine Vaccines, Inactivated Feline Vaccines, Inactivated Vaccine Combinations, Other Inactivated Vaccines
2) By Live Attenuated: Live Attenuated Canine Vaccines, Live Attenuated Feline Vaccines, Live Attenuated Vaccine Combinations, Other Live Attenuated Vaccines
3) By Recombinant: Recombinant Canine Vaccines, Recombinant Feline Vaccines, Recombinant Vaccine Combinations, Other Recombinant Vaccines
4) By Other Products: DNA Vaccines, Subunit Vaccines, Toxoid Vaccines, Other Veterinary Vaccine Products
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What Are the Primary Drivers Shaping the Companion Animal Veterinary Vaccines Market?
The growth of the companion animal veterinary vaccine market is primarily driven by the rising pet ownership among Gen X and Gen Y adults. According to the APPA, millennials (Gen Y) make up the largest group of pet owners. More than 80% of Gen Y and Gen Z individuals own dogs, while around 50% or fewer own cats. The trend of owning multiple pets is also increasing globally. For example, in 2022, Animal Medicines Australia reported a significant rise in pet ownership in Australia, with the number of pet owners growing by 24% from 2021 to 2022, contributing to the growth of the veterinary vaccine market.
Which Companies Are Leading in the Companion Animal Veterinary Vaccines Market?
Major companies operating in the companion animal veterinary vaccines market include C.H. Boehringer Sohn AG & Co. KG, Eli Lilly and Company, Heska Corp., Merck and Co. Inc., Elanco Animal Health Incorporated, Zoetis Inc., Ceva Sante Animale SA, Bayer AG, Neogen Corporation, ImmuCell Corporation, Intervet Inc., Vetoquinol SA, IDEXX Laboratories Inc., Merial Inc., Biogenesis Bago SA, Hipra India Pvt. Ltd., Bimeda Animal Health Limited, Phibro Animal Health Corporation, Nexvet Biopharma plc, Bioniche Animal Health Canada Inc., Bioiberica S.A., Laboratorios Hipra S.A., Norbrook Laboratories Ltd., Dechra Pharmaceuticals PLC, Kyoritsu Seiyaku Corporation, VDS Pharma Animal Health, Kepro Technologies Private Limited, ECO Animal Health Group plc, Biostadt India Limited, bio-pharmaceutical company, Choong Ang Vaccine Laboratories Co. Ltd., CZ Veterinaria S.A.
What Are the Major Trends Shaping the Companion Animal Veterinary Vaccines Market?
Firms in the companion animal veterinary vaccine industry are increasingly forming partnerships to foster innovation and expand into new markets. For example, MSD Animal Health, a Merck & Co. subsidiary, partnered with Vinovo B.V., part of Viscon Hatchery Automation, to enhance bird welfare and minimize vaccine reactions through advanced Vinovo vaccination methods.
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What Are the Top Revenue-Generating Geographies in the Companion Animal Veterinary Vaccines Market?
North America was the largest region in the companion animal veterinary vaccines market in 2023. Asia-Pacific was the second-largest region in the companion animal veterinary vaccines market. The regions covered in the companion animal veterinary vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Companion Animal Veterinary Vaccines Market?
2. What is the CAGR expected in the Companion Animal Veterinary Vaccines Market?
3. What Are the Key Innovations Transforming the Companion Animal Veterinary Vaccines Industry?
4. Which Region Is Leading the Companion Animal Veterinary Vaccines Market?
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