India, Bangladesh, Sri Lanka, Nepal Animal Vaccine Market, by Type (Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, Recombinant Vaccines, and DNA Vaccines), Animal Type (Companion Animal, and Poultry), and Valence (Monovalent, and Multivalent): Opportunity Analysis and Industry Forecast, 2021--2030

The India, Bangladesh, Sri Lanka, Nepal Animal Vaccine market was valued at $127,107.12 thousand in 2020, and is estimated to reach $229,987.00 thousand by 2030, growing at a CAGR of 6.1% from 2021 to 2030.

Vaccination is defined as an immunization process that decreases the disease burden in animals, and helps maintain animal health & welfare. Animal vaccination protects the domestic, wild animals, and poultry from highly contagious, infectious and deadly diseases such as parvovirus, rabies, hepatitis, and canine distemper. Animal vaccine aims to increase the production of poultry product in a cost-effective manner, enhance the health and welfare of companion animals, and prevent animal to human transmission from both wild life and domestic animals.  The combination of vaccines are used for the immunization of cats and dogs. 

The growth of the India, Bangladesh, Sri Lanka, Nepal animal vaccine market is majorly driven by increase in prevalence of infectious disease in animal, such as Foot and Mouth Disease (FMD), rabies, blue tongue, anthrax, and black quarter; increase in funding from private & government organizations for animal care centers; and advancements in animal vaccine product development by key manufacturers. For instance, in August 2021, the Punjab agriculture department, announced the ring vaccination of animals in the city of Ludhiana, India. Moreover, According to journal of One Health, in 2020, it was reported that around 500 animals died in Nepal due to rabies. Further, MSD Animal Health, one of the leading pharmaceutical companies, produces nobivac rabies, which is an inactivated vaccine administered for immunization of cats, and dogs, against rabies.

Moreover, surge in pet adoption is anticipated to fuel the growth of the animal vaccine market. In addition, rise in focus on pet health fuels the market growth, owing to the fact that poultry and companion animals are more vulnerable to develop infectious or fungal disease. Further, increase in demand for animal vaccination, and rise in concern about food security is anticipated to contribute toward the growth of the market. 

Furthermore, rise in awareness among individuals about the animal vaccination schedule is expected to provide remunerative opportunities for the expansion of the India, Bangladesh, Sri Lanka, Nepal animal vaccine market during the forecast period. Likewise, in May 2021, the Government of India, announced the launch of $1,690 million vaccination program for animals. Moreover, the presence of key manufacturing companies in India, Bangladesh, Sri Lanka, and Nepal and rise in spending on animal healthcare propel the growth of the market.

Thus, presence of various veterinary foundations and initiatives taken by government for organizing different vaccination programs propel the growth of the market. However, high cost of milk, egg and meat prices, due to increase in cost of animal vaccine, and adverse effect of vaccines on animal and human health are expected to restrict the market growth during the forecast period. The adverse effects of vaccine on animal health are anaphylaxis, systemic reaction, autoimmune hemolytic anemia, respiratory disease, and post vaccination sarcoma.

India, Bangladesh, Sri Lanka, Nepal Animal Vaccine Market Segmentation

The India, Bangladesh, Sri Lanka, Nepal animal vaccine market is segmented on the basis of type, animal type, valence, and country. By type, the market is categorized into attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, recombinant vaccines, and DNA Vaccines. 

On the basis of animal type, it is divided into companion animal, and poultry. Depending on valence, it is categorized into monovalent, and multivalent. Country wise, the market is analyzed across India, Bangladesh, Sri Lanka, and Nepal.

Segment Review

Depending on type, the attenuated vaccines segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to advancement in R&D activities in animal healthcare sector, and increase in prevalence of infectious disease in animal. However, the DNA vaccines segment is expected to witness considerable growth during the forecast period, owing to rise in prevalence of Newcastle disease, and surge in adoption of DNA vaccine.

By animal type, the companion animals segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in number of pet population, rise in pet adoption, initiative taken by government for vaccination of dogs and increase in prevalence of rabies. However, the poultry segment is expected to witness considerable growth during the forecast period, due to rise in the number of chicken production, and surge in demand for consumptions of poultry products such as milk, egg and meat.

On the basis of valence, the multivalent segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in demand for polyvalent vaccine, and rise in prevalence of disease in animals. However, the monovalent vaccine segment is expected to witness considerable growth during the forecast period, owing to increase in prevalence of infectious diseases in animal, surge in awareness about animal vaccine, and initiatives taken by governments and private organizations in order to promote immunization in animals.

India garnered a major share in the India, Bangladesh, Sri Lanka, Nepal animal vaccine market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in prevalence of infectious disease in animals, the presence of key players for manufacturing and developing animal vaccine, increase in number of animal population, and initiatives taken by government to vaccinate animals in the country. However, Bangladesh was the second largest contributor to the market in 2020 owing to increase in awareness about animal vaccination, rise in the demand for pet adoption, and presence of various veterinary foundations.

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the India, Bangladesh, Sri Lanka, Nepal animal vaccine market, and the current trends & future estimations to elucidate imminent investment pockets.
• It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
• Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

  India, Bangladesh, Sri Lanka, Nepal Animal Vaccine Market, by Type Report Highlights