Press release
Veterinary Vaccines Market to Reach USD 13.33 Billion by 2029
Asia Pacific was the fastest regional market for veterinary vaccines. Due to several factors, including a rapidly expanding livestock industry, increasing animal disease outbreaks, growing demand for animal-based products, and rising awareness about anima
The global Veterinary Vaccines Market [https://www.marketsandmarkets.com/Market-Reports/animal-veterinary-vaccines-market-1233.html?utm_source=abnewswire&utm_medium=paidpr&utm_campaign=veterinaryvaccinesmarket], valued at USD 8.93 billion in 2023, is projected to grow at a CAGR of 6.1%, reaching USD 9.39 billion in 2024 and USD 13.33 billion by 2029, according to MarketsandMarkets Trademark .
Market growth is driven by the rising companion animal population, increasing pet ownership, growing prevalence of zoonotic diseases, and government initiatives to improve animal health. However, high vaccine development and production costs remain a key challenge, potentially restraining market expansion.
Successfully navigating these opportunities and constraints will be crucial for advancing innovation and adoption in veterinary vaccine solutions.
Market Segmentation Insights
By Type: The market is segmented into porcine, poultry, livestock, aquaculture, companion animal, and other animal vaccines. In 2023, the livestock vaccines segment accounted for the largest share. The rising global demand for meat and dairy products, coupled with the need to maintain herd health and prevent disease outbreaks, is driving this segment's growth.
By Disease: Livestock disease vaccines held the largest share in 2021, supported by growing meat and milk consumption, dairy industry expansion, and awareness about disease prevention. Effective livestock vaccination plays a vital role in ensuring food security, boosting productivity, and reducing zoonotic risks.
By Technology: The market is segmented into live attenuated, inactivated, toxoid, recombinant, and other vaccines (including subunit, RNA particle, and immune complex technologies). In 2023, live attenuated vaccines led the market due to their high efficacy, cost-effectiveness, and long-term immunity. These vaccines are preferred for managing widespread livestock diseases, particularly in regions with intensive animal farming and growing trade activities.
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Regional Insights
The global market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2023, the Asia Pacific emerged as the fastest-growing regional market, driven by:
* Rapid expansion of the livestock sector
* Increasing animal disease outbreaks
* Rising demand for animal-derived food products
* Government efforts to improve animal health and prevent epidemics
These initiatives reflect the region's growing recognition of the importance of animal health in public safety, food security, and economic stability.
Key Market Players
Leading companies operating in the veterinary vaccines market include: Zoetis (US), Merck & Co., Inc. (US), Boehringer Ingelheim International GmbH (Germany), Elanco (US), Virbac (France), Ceva (France), Phibro Animal Health Corporation (US), Hester Biosciences Limited (India), Neogen Corporation (US), HIPRA (Spain), Biogenesis Bago (Argentina), Tianjin Ringpu Biotechnology Co., Ltd. (China), China Animal Husbandry Industry Co., Ltd. (China), Jinyu Bio-technology Co., Ltd. (China), and Vaxxinova International B.V. (Netherlands).
Company Profiles
Zoetis (US): Zoetis develops and manufactures a broad portfolio of animal health medicines, vaccines, diagnostics, and genetic tests for livestock and companion animals. With an R&D investment of USD 614 million in 2023, Zoetis continues to focus on innovation across vaccines, biodevices, and digital solutions. The company operates across North America, Europe, Latin America, the Middle East & Africa, and the Asia Pacific.
Merck & Co., Inc. (US): Merck operates through two key divisions-Pharmaceuticals and Animal Health. The Animal Health segment offers a wide range of veterinary pharmaceuticals and vaccines for multiple animal species. With operations in over 50 countries, Merck emphasizes strategic acquisitions and partnerships to expand its footprint in the veterinary vaccines space.
Boehringer Ingelheim International GmbH (Germany): Boehringer Ingelheim's Animal Health division provides a comprehensive range of biological and pharmaceutical products for food-producing and companion animals. With a global presence spanning 151 subsidiaries, the company reached a major milestone in 2023 with four billion vaccine doses sold. Strategic collaborations and strong global operations continue to position Boehringer as a leader in veterinary vaccines.
Conclusion
The veterinary vaccines market is entering a phase of sustained growth, fueled by rising pet ownership, increasing demand for safe animal-derived food, and global efforts to combat zoonotic diseases. Continued innovation in vaccine technologies, along with regional government support, will play a pivotal role in shaping the future of animal health worldwide.
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