Growing Livestock Animal Immunization Offers Market Lucrative Opportunities
In terms of animals, livestock animal accounted for a significant revenue share in the market due to the increased demand for livestock animal immunization to ensure the safety of food and dairy products. Livestock animals are major sources of primary as well as secondary food products used by human throughout their daily life. As a result, ensuring the health of these animals has become a top priority, prompting farmers to adopt healthcare products such as veterinary vaccinations. Similarly, the rapid rise of the animal immunizations market in both developed and emerging economies will contribute to the expansion of this segment. Due to bird flu disease, the price of chicken products has dropped, negatively impacting the whole livestock business. Asian countries have implemented vaccine policies, India has resorted mostly to bird culling. This factor has boosted market growth.
Veterinary Vaccines are Gaining Traction as the Global Trend of Pet Adoption Increases
Some of the main factors driving the global veterinary vaccines market are the rising prevalence of zoonotic diseases, rising demand for animal products, the growing trend of pet adoption all across the world and the exponential expansion of the animal healthcare products industry. This is attributable to increasing pet care spending and greater acceptance of effective vaccines. As reported by the American Pet Products Association (APPA), Americans will spend more than US$ 123.6 billion on their pets in 2022. According to the same source, in 2022 and 2023, 70% of American homes, or 90.5 million families, would have a pet. Similarly, the rapid rise of the veterinary respiratory diseases treatment and pain management drugs markets as a result of increased expenditure by pet owners on improving their pets' health would generate market opportunities for veterinary vaccines during the forecast period. Veterinary vaccinations are gaining popularity due to their ability to protect both animal and human health by efficiently mimicking naturally acquired immunity. Revenues of veterinary vaccines are particularly high in developed countries due to rising pet ownership. These vaccines are crucial for assuring animal longevity and health. Veterinary vaccinations are often crucial to animal health protection as they control and prevent serious epidemic diseases.
Recent Trends in Veterinary Vaccines Market:
- Development of advanced vaccines, including recombinant and DNA-based vaccines.
- Emphasis on vaccines targeting diseases that can be transmitted from animals to humans.
- More comprehensive vaccination programs are being implemented globally.
- Development of vaccines tailored to the specific needs and health conditions.
- Use of digital platforms for vaccine tracking and monitoring.
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Smallholder Farmers' Lack of Vaccine Adoption in Developing Countries May Limit Growth
Throughout the forecast period, the veterinary vaccine market is likely to be hampered by high storage costs and challenging vaccine production processes. For instance, proper vaccine handling and storage is important in preventing and treating a number of prevalent diseases that may be prevented by vaccination. It is estimated that 600-900 million smallholder farmers own livestock in developing nations across Asia, Africa and Latin America. Animal vaccination adoption among these smallholder farmers is restricted owing to a variety of factors, including a lack of awareness about the advantages, a lack of accessibility as they cannot pay the cost of the inoculation goods and a lack of availability due to a poor supply chain. A significant percentage of livestock animals owned by smallholder farmers die as a result of various diseases, placing them under additional economic strain. Governments and organisations are implementing a variety of methods to increase the adoption of animal vaccination among smallholder farmers by boosting accessibility, affordability and availability.
Partnerships Among Non-Profit Organizations Driving Market Expansion
Merck Animal Health is dedicated to eliminating rabies by giving NOBIVAC rabies vaccines to the Mission Rabies program, a charity initiative of the Worldwide Veterinary Service (WVS). Donations will continue for the next 5 years to meet the annual rabies vaccine requirements for this non-profit organization. Merck Animal Health, in collaboration with Mission Rabies, is dedicated to supporting the worldwide objective established by the United Against Rabies Forum to eradicate all human fatalities resulting from rabies transmitted by dogs by 2030. Led by WHO, WOAH, and FAO, the initiative strives to eliminate rabies worldwide using three primary methods.
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Huge Demand for Pet Vaccinations Across North America Leads to Market Expansion
The biggest market share is held by North America. The Center for Veterinary Biologics (CVB) of the Animal and Plant Health Inspection Service (APHIS) regulates veterinary vaccinations in the United States. To manufacture and market veterinary biologics, the CVB issues establishment and product licences to animal health enterprises. Additionally, rising consumer awareness of current veterinary vaccination industry trends is expected to benefit the North American market throughout the forecast period. Advances in vaccine development in the United States include the development of non-replicating recombinant antigen vaccines, live vector vaccines, nucleic acid-mediated vaccinations and live-gene-deleted vaccines. Vaccination for zoonotic diseases in companion and wildlife animals has a significant influence on reducing the prevalence of zoonotic diseases. Rising disease prevention awareness and technology developments are also likely to drive demand for veterinary vaccinations in the region.
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The report provides a detailed overview of the veterinary vaccines market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for veterinary vaccines market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the veterinary vaccines market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the veterinary vaccines market. Some key country and region included in the veterinary vaccines market report as follows:
| Regions | Countries |
|---|---|
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Veterinary Vaccines Market Research Report Covers In-depth Analysis on:
- Veterinary vaccines market detailed segments and segment-wise market breakdown
- Veterinary vaccines market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in veterinary vaccines industry)
- Current, historical and forthcoming 10 years market valuation in terms of veterinary vaccines market size (US$ Mn), volume (Units), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Veterinary vaccines market demand analysis
- Veterinary vaccines market pricing analysis over forecast period (by key segment and by region)
- Veterinary vaccines market regional insights with region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in veterinary vaccines market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in veterinary vaccines market
- Veterinary vaccines market sales and distribution strategies
- A comprehensive overview of parent market
- A detailed viewpoint on veterinary vaccines market forecast by countries
- Mergers and acquisitions in veterinary vaccines market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
What is the current size of the veterinary vaccines market?
The veterinary vaccines market is valued in the billions and is expected to grow steadily due to increasing demand for animal health products and rising awareness about preventive care.
What factors are driving growth in the veterinary vaccines market?
Key drivers include rising pet ownership, increasing incidences of zoonotic diseases, advancements in vaccine technologies and a growing focus on animal welfare and health in the livestock industry.
What are the key challenges facing the veterinary vaccines market?
Challenges include stringent regulatory requirements, high development costs and the emergence of alternative therapies, which may hinder market growth and innovation in vaccine development.
