Exploring Key Insights of the Veterinary Vaccines Market: Growth Prospects, Emerging Trends, and Opportunities
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How Rapidly is the Veterinary Vaccines Market Expected to Expand Between 2025 and 2034 Based on Current Trends?
In recent times, there has been significant growth in the veterinary vaccines market. The market size, which is currently valued at $13.56 billion in 2024, is projected to rise to $14.52 billion in 2025, recording a compound annual growth rate (CAGR) of 7.1%. This growth during the historical period is due to factors such as the emergence and growth of new markets, increased expenditure on pets, the rise in disease prevalence, frequent outbreaks of poultry diseases, and the increasing incidents of zoonotic diseases.
There is a prediction for significant expansion in the veterinary vaccines market over the coming years, with expectations to reach a value of $19.4 billion in 2029, signifying a compound annual growth rate (CAGR) of 7.5%. This anticipated growth within the forecasted timeframe can be ascribed to factors such as economic progression, a rising trend in pet insurance, an uptick in pet ownership, heightened governmental efforts, and a steadily increasing awareness around animal health. Looking ahead, the forecasted period will likely see a focus on investment in nanoparticle development, an upswing in the production of subunit and virus-like particle-based vaccines, and increased manufacturing of vaccinations such as parvovirus, distemper, and adenovirus to accommodate the necessity for regular vaccination schedules for pets. Additionally, we can expect a surge in investment towards technological progress, further funding towards toxoid vaccines, an emphasis on mRNA vaccine investment, and strategic affiliations and partnerships.
What Combination of Drivers Is Leading to Accelerated Growth in the veterinary vaccines Market?
As the prevalence of various diseases in animals increases, the need for vaccines to combat and prevent these conditions is also growing, which in turn pushes the demand within the veterinary vaccines market. Based on a report made by the Animal and Plant Health Agency, there have been 3289 new incidents of TB herds detected across England. Bovine Tuberculosis, a chronic illness that affects animals predominantly cattle (but can impact all mammals), can cause various symptoms ranging from general sickness to coughing, and can eventually lead to death. However, there are specific antibiotics capable of eliminating the TB bacteria. This growing incidence of illnesses in animals is anticipated to fuel the growth of the veterinary vaccines market throughout the forthcoming period.
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Which Key Players Are Shaping the Future of the Veterinary Vaccines Market?
Major companies operating in the veterinary vaccines market include:
• Zoetis Inc._x000D_
• Boehringer Ingelheim GmbH_x000D_
• Merck & Co. Inc._x000D_
• Elanco Animal Health Incorporated_x000D_
• Ceva Santé Animale._x000D_
How Are the Latest Trends Influencing the Growth of the Veterinary Vaccines Market?
Businesses within the veterinary vaccines market are proactively forging strategic alliances and collaborations to tap into new markets and share R&D projects. For example, in February 2022, US-based Merck Animal Health entered into a four-year strategic agreement with another US-based entity, Iowa State University to collaborate on innovative animal health solutions. This alliance covers a spectrum of areas from R&D, production, to exploring novel technologies, expanding operations, and various other facets aligned towards introducing creative solutions to tackle animal health issues not only in the US but globally. In a similar strategic move, MSD Animal Health, a unit of Merck & Co, located in the US, joined hands with Vinovo. The collaboration allows MSD Animal Health to merge its diverse vaccine product range with Vinovo’s vaccine delivery system thereby enhancing bird welfare and minimizing vaccine reactions. Moreover, Wageningen bio veterinary research established a strategic partnership with Switzerland-based Ceva, aiming to bolster their research on the global concern of emerging and reemerging animal diseases.
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How Are Key Segments Defining the Competitive Landscape of the Veterinary Vaccines Market?
The veterinary vaccines market covered in this report is segmented –
1) By Application: Livestock Vaccines, Companion Animal Vaccines
2) By Vaccine Type: Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Other Vaccine Types
3) By Disease Type: Anaplasmosis, Canine Parvovirus, Foot And Mouth Disease, Newcastle Disease, Distemper Disease, Influenza, Porcine Reproductive And Respiratory Syndrome (PRRS)
Subsegments:
1) By Livestock Vaccines: Bovine Vaccines, Poultry Vaccines, Porcine Vaccines, Small Ruminant Vaccines (Sheep and Goats), Aquaculture Vaccines
2) By Companion Animal Vaccines: Canine Vaccines, Feline Vaccines, Equine Vaccines
What Regions Are At the Forefront of Veterinary Vaccines Market Expansion?
North America was the largest region in the veterinary vaccines market in 2024. Asia-Pacific was the second-largest region in the global veterinary vaccines market analysis. The regions covered in the veterinary vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
How Is the Veterinary Vaccines Market Classified and Defined in Market Analysis?
Veterinary vaccine refers to a biological preparation that stimulates the immune response of an animal against disease in order to reduce animal suffering and the transmission of microorganisms in the animal population and enhance the immunity power of animals by improving animal health, which also prevents the transmission of diseases from animals to humans.
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