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LI_171988
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Pages: 197
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Mar 2019 | 5029 Views
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Author(s) :
Tenzin Kunsel and Onkar Sumant
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Tables: 90
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The global animal vaccines market size was $8,059 million in 2017, and is estimated to reach $12,845 million by 2025, registering a CAGR of 5.9% from 2018 to 2025. Animal vaccines control the transmission diseases, thus providing protection to animal and human health, which is essential considering the public dependency on animals. Animals serve as an important source of food, meat, milk, protein, and other commercial products such as leather and wool. Most commonly used veterinary vaccines include rabies vaccines, foot & mouth diseases vaccines, and equine influenza virus vaccines, which prevent the transmission of infectious agents by mimicking the naturally acquired immunity. Constant development of vaccines is essential with rise in emergence of different animal diseases. Increase in pet ownership has significantly accelerated the growth of this market.
The animal vaccines market is to grow at a steady pace due to increase in pet ownership in developed countries and rise in number of cattle & poultry in developing countries. Furthermore, surge in investment for R&D of vaccines, which inhibit the growth of antibiotic-resistant organisms boosts the animal vaccines market growth. For instance, in August 2016, Elanco invested two-thirds of the budget for food‐animal unit to develop vaccines and reduce the use of antibiotics. Moreover, rise in demand for animal vaccines has led to the emergence of multiple new vaccines. For instance, Cevac IBron a new vaccine was launched by Ceva in February 2017 that prevents against infectious bronchitis virus (IBV).
However, lack of animal health awareness and possibility of adverse impact on veterinary vaccines on human and other animal health can restrain the growth for animal vaccines market. Furthermore, the advanced in vaccine products and production of animal vaccines for hybrid animals can help to open new avenue for the growth of animal vaccines market.
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Product Type segment review
The animal vaccines market is segmented on the basis of product type, animal type, and geography. By product type, the animal vaccines market is categorized into attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, recombinant vaccines, and DNA vaccines. Attenuated vaccines segment dominated the product type segment with maximum share in 2017 in the animal vaccines market size. Attenuated vaccines can provide stronger immunity as compared to other vaccines by activating a wide range of immune response. Moreover, it helps reduce the need for booster vaccines, can be administered via oral route, and induces long-lasting and rapid onset of immunity, which positively contributes toward the growth of animal vaccines market.
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Animal Type segment review
Based on animal type, the animal vaccines market is classified into companion animals, cattle, pigs, poultry, and sheep. The companion animals segment is subsegmented into dogs, cats, and others. Cattle segment contributed the maximum revenue in 2017 for the growth of animal vaccines market, attributable to increase in consumption of meat, milk, and dairy products, making sustainable animal health a vital aspect in disease management. However, companion animal segment is expected to be the fastest growing segment as a large number of these animals are commonly in contact with humans and the infections such as rabies can affect humans too. Moreover, increase in the number of adoption of these companion animals and rise in awareness regarding the importance of vaccines for dogs and cats help to fuel the market growth.
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Region segment review
Based on region, the animal vaccines market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest revenue in the global animal vaccines market. This is attributable to the high adoption of companion animals, rise in the consumption of meat and milk, and growing awareness regarding the benefits of using animal vaccines. Asia-Pacific possesses high market potential that could affect the animal vaccines market trends due to increase in pet ownership and rise in incidence of various zoonotic diseases. Moreover, ongoing research on innovative vaccine production technology has increased due to high demand for animal-based food products and companion animals. In addition, increase in investments in animal healthcare companies has improved the production of innovative vaccines.
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The animal vaccines market analysis in Saudi Arabia is projected to grow at a high CAGR during the forecast period. In addition, the U.S. is a mature market for the animal vaccines, as it holds maximum animal vaccines market share in the patent registration for animal vaccines.
The report provides a comprehensive analysis of the key players operating in the animal vaccines industry. These players include Merck & Co., Inc., Zoetis Inc., Ceva Santé Animale, Sanofi S.A., Romvac, Vaxxinova, Biovac, Merial, and Anicon Labor GmbH.
The other players that operate in animal vaccines market include Nexvet, PHL Associates, Inc., Hygieia Biological Laboratories, Colorado Serum Company, Pfizer, and Arko Laboratories, Ltd.
The animal vaccines market is expected to witness moderate growth owing to increase in incidence of various animal diseases such as rabies and Newcastle disease. The demand for animal vaccines is anticipated to increase owing to high nutritional value of animal-derived food products such as meat & milk and rise in need for companion animals. Furthermore, rise in emergence of antibiotic-resistant microorganisms due to high usage of antibiotics among animals is expected to fuel the growth of the global animal vaccines market.
Advancement in production of vaccines is expected to have a positive impact on the market growth. The advancement in the field of molecular biology has increased the production of DNA & recombinant vaccines. Advancement in production of plant-based animal vaccines reduces the production cost and makes the vaccines safer and more stable for usage in animals.
The employment of technologically advanced animal vaccines is highest in North America, owing of the increase in adoption of these products and rise in disposable income. The growth of the market is driven by rise in disposable income, increase in demand for meat in developing countries such as China and India, and growth in adoption of companion animals. The cattle segment significantly contributes toward the market growth owing to the rise in demand for dairy products.
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