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What Is the Estimated Market Size of the Companion Animal Veterinary Vaccines Market In 2029?

In recent times, the market size for companion animal veterinary vaccines has seen significant growth. It is predicted to increase from $3.66 billion in 2024 to $3.88 billion in 2025, at a compound annual growth rate (CAGR) of 6.0%. The past growth in this market can be credited to the increase in pet ownership, advances in preventive healthcare, the prevalence of zoonotic diseases, and the development in vaccine technology.

What Growth Rate Is Forecasted for the Companion Animal Veterinary Vaccines Market by 2029?

The market size for companion animal veterinary vaccines is anticipated to witness robust expansion in the following years. With a compound annual growth rate (CAGR) of 7.0%, it is projected to reach $5.09 billion by 2029. The projected growth in this period is resulting from factors such as escalating pet population, heightened awareness of preventive healthcare, advancements in technology and vaccine development, and tailored vaccination strategies. Key trends during this forecast period encompass extensive vaccination programs, innovative vaccine technologies, control of vector-borne diseases, and the emergence of vaccination clinics and mobile services.

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Which Key Companies Are Shaping the Future of 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.

Which Factors Are Driving Demand in the Companion Animal Veterinary Vaccines Industry?

The expansion of the companion animal veterinary vaccine market in the projected timeline can be credited to the enhancement in pet ownership among Gen X and Gen Y adults. The APPA reveals millennials (Gen Y) as the largest group of pet owners featuring different kinds of pets. It’s estimated that over 80% of Gen Y and Gen Z individuals keep dogs, and 50% or less have cats as pets. The tendency for owning multiple pets is becoming more prevalent worldwide. For example, in 2022, data from Animal Medicines Australia, a non-governmental body in Australia, indicated a substantial rise in pet ownership, with the figure in pet owners soaring to 28,730.8 in 2022, a hike from 39% in 2021. This shows an increase of 24%, emphasising a clear ascending trend in pet adoption and investment in their care. The increase in pet ownership stresses the escalating charm of pets in Australian households, which leads to the expansion of the companion animal veterinary vaccine market.

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How Is the Companion Animal Veterinary Vaccines Market Segmented by Several Divisions?

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

What are the Emerging Market Trends Driving the Growth of the Companion Animal Veterinary Vaccines Industry?

In the companion animal veterinary vaccine sector, firms are teaming up and joining forces with other operators to promote product innovation. To maintain their competitive edge in the rapidly evolving veterinary field, they are exploring new geographies and creating groundbreaking products by leveraging each other’s knowledge and expertise. For example, MSD Animal Health, a division of Merck & Co., revealed a critical alliance with Vinovo B.V., a segment of Viscon Hatchery Automation, a prominent automation company in the hatchery domain. This collaboration aims to introduce a new level of safe and effective Vinovo vaccination that would enhance bird well-being and mitigate vaccine reactions.

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Which Regions Are Driving Growth 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

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This Report Delivers Insight On:

1. How big is the companion animal veterinary vaccines market, and how is it changing globally?

2. Who are the major companies in the companion animal veterinary vaccines market, and how are they performing?

3. What are the key opportunities and risks in the companion animal veterinary vaccines market right now?

4. Which products or customer segments are growing the most in the companion animal veterinary vaccines market?

5. What factors are helping or slowing down the growth of the companion animal veterinary vaccines market?

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