Companion Animal Veterinary Vaccines Market Forecast and Analysis: Key Insights into Growth, Trends, and Emerging Opportunities
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How Will the Growth Rate of the Companion Animal Veterinary Vaccines Market Shape Industry Trends by 2034?
In the past few years, there has been considerable expansion in the market size for companion animal veterinary vaccines. The market value is projected to escalate from $3.66 billion in 2024 to $3.88 billion in 2025, following a compound annual growth rate (CAGR) of 6.0%. Factors such as an increase in pet ownership, emphasis on preventive healthcare, presence of zoonotic diseases, and technological advancements in vaccines are contributing to the growth experienced during the historic period.
In the coming years, a substantial growth is expected in the size of the companion animal veterinary vaccines market. The market is projected to expand to $5.09 billion by 2029, with a CAGR of 7.0%. The predicted growth of the market during the forecast period can be accredited to an increased pet population, awareness of preventive healthcare, advances in technology and vaccine development, and customized vaccination plans. Comprehensive vaccination programs, cutting-edge vaccine technologies, control of vector-borne diseases, vaccination clinics, and mobile services are some of the main trends expected during the forecast period.
What Factors Are Propelling the Growth of the Companion Animal Veterinary Vaccines Market from 2025 to 2034?
The upward surge of the companion animal veterinary vaccine market throughout the forecast timeframe is linked to the rise in pet adoption by adults from Generation X and Generation Y. As reported by the APPA, millennials (Gen Y) are the majority demographic of pet owners spanning various pet categories. More than 80% of individuals from Generation Y and Generation Z are dog owners, while the percentage of cat owners is 50% or less. The phenomenon of owning multiple pets has also amplified globally. For instance, data from Animal Medicines Australia, a non-government organization based in Australia, highlighted that in 2022, pet ownership saw considerable growth, reaching 28,730.8 pet owners compared to 39% in 2021- a growth of 24%. This indicates a significant rise in pet adoption and investment in their wellbeing. The increase in pet ownership underlines the heightened interest in pets within Australian homes. This rise is further fuelling the expansion of the companion animal veterinary vaccine market.
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Who Are the Key Market Players Influencing the Growth of the Companion Animal Veterinary Vaccines Industry?
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 Key Market Trends Are Shaping the Future of the Companion Animal Veterinary Vaccines Industry?
In the veterinary vaccine sector for companion animals, there is a growing trend towards collaboration and partnerships between companies to spur product innovation. In order to thrive in this intensely competitive market, companies are expanding into new territories and developing novel products by pooling their skills and knowledge with other industry players. For example, MSD Animal Health, a branch of Merck & Co., has entered into a strategic alliance with Vinovo B.V., a segment of Viscon Hatchery Automation, a top firm in hatchery automation. They aim to set a new standard in safe and effective Vinovo vaccination, enhancing bird welfare and minimizing vaccine reactions.
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What Are the Core Categories and Segments in the Companion Animal Veterinary Vaccines Market Driving Demand and Growth?
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
Which Regions Are Emerging as Leaders 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
How Is the Companion Animal Veterinary Vaccines Market Defined Across Different Regions?
Companion animal vaccines are substances that are used to stimulate the production of antibodies and provide immunity against one or several diseases in pets such as dogs, birds, and cats. They are also used to improve food digestion, enhance immunity, enable animals to gain fat and weight, and generate good quality meat that is harvested for commercial purposes.
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