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Companion Animal Vaccines Market 7.5% CAGR Find Out Growth Potential Through Demand Forecast 2027 | Coherent Market Insights

February 7th, 2020 Coherent Market Insights Releases

Core vaccines are administered to all cats and include, feline calicivirus (FCV), feline herpesvirus-1 (FHV-1), feline leukemia virus (FeLV), feline parvovirus (panleukopenia) (FPV), and rabies virus. Rabies vaccinations are given in the right hind leg and canine distemper-parvovirus and feline upper respiratory-panleukopenia (FVRCP) vaccines are given in the right foreleg.

Statistics:

The global companion animal vaccines market is estimated to account for US$ 4,682.2 Mn in terms of value by the end of 2027.

Global Companion Animal Vaccines Market: Drivers

Increasing burden of zoonotic diseases is expected to propel growth of the global companion animal vaccines market over the forecast period. For instance, according to GALVmed, a not-for-profit livestock health product development and access partnership, Rift Valley Fever, an endemic zoonotic disease throughout Africa and the Middle East, accounts for an expenditure of US$ 427 million, annually.

Global Companion Animal Vaccines Market: Opportunities

Increasing initiatives by private and government organizations related to animal vaccination is expected to offer lucrative growth opportunities for players in the market. For instance, in January 2020, The United States Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) announced to award US$ 10.2 million to support disease prevention and emergency response training and to develop the National Animal Vaccine and Veterinary Countermeasures Bank (NAVVCB).

Request Free PDF Research Report Brochure @ https://www.coherentmarketinsights.com/insight/request-pdf/3387

Global Companion Animal Vaccines Market: Restraints

Adverse vaccine reactions, including type I and type III hypersensitivities, vaccine-associated fibrosarcoma, vaccine-associated disease enhancement and formation of autoimmune disease, can occur in veterinary medicine due to misuse of the vaccine or overvaccination, which is expected to hamper growth of the market.

Key Takeaways:

The Attenuated Live Vaccines segment in the global companion animal vaccines market was valued at US$ 930.6 Mn in 2019 and is expected to reach US$ 1,655.9 Mn by 2027 at a CAGR of 7.5% during the forecast period. Increasing incidence of zoonotic diseases in companion animals is expected to propel growth of the segment during the forecast period.

The Veterinary Clinics segment held dominant position in the global companion animal vaccines market in 2019, accounting for 41.4% share in terms of value, followed by veterinary hospitals and retail pharmacies & other segments, respectively. Increasing animal healthcare expenditure in developed and developing economies is anticipated to assist the growth of the market during the forecasted period.

The Canine segment held dominant position in the global companion animal vaccines market in 2019, accounting for 50.9% share in terms of value, followed by feline and avian, respectively. The growth of the canine segment is attributed increasing number of canine pet ownership around the globe during the forecasted period.

Market Trends

Major institutes are focused on developing effective vaccines against African swine fever. For instance, in January 2020, researchers from U.S. Department of Agriculture reported development of a vaccine against African swine fever that appears to be far more effective than previously developed vaccines.

Government and private organizations are focused on increasing vaccination against rabies. For instance, in January 2020, Caring for Creatures, Green Dogs Unleashed, Cat Action Team, and the Fluvanna SPCA collectively organized free rabies vaccination in Virginia, U.S.

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Regulations

Europe

  • The EU’s Committee for Medicinal Products for Veterinary Use (CVMP) is responsible for veterinary biologic manufacturing and product testing and approval oversight
  • Veterinary vaccines are manufactured in accordance with good manufacturing practices listed under standards (GMP Directive 200/94/Ec and Annex 16) and Directive 91/412/EEC
  • Availability of centralized procedures for scientific review and approval of license applications and lot release post-licensure facilitate vaccine manufacture and disbursement within the EU
  • Additionally, countries within the EU have separate consideration for commercialization of the veterinary vaccines

Global Companion Animal Vaccines Market: Competitive Landscape

Major players operating in the global companion animal vaccines market include Bayer Healthcare, Vétoquinol S.A, Boehringer Ingelheim, Ceva Sante Animal S.A., Eli Lilly and Company (Elcano), Heska Co., Merck Animal Health, Merial (Boehringer Ingelheim), Virbac, and Zoetis.

Global Companion Animal Vaccines Market: Key Developments

  • November 2019: Zoetis launched Versican Plus Bb Oral – the first oral vaccine for dogs in Europe
  • September 2019: Boehringer Ingelheim announced its plans to donate 60,000 doses of its IMRAB rabies vaccine for dogs over the next three years to fight rabies in Puerto Rico

Segmentation

Scope of the report

  • Companion Animal Vaccines Market, By Product Type:
    • Attenuated Live Vaccines
    • Conjugate Vaccines
    • Inactivated Vaccines
    • Subunit Vaccines
    • Toxoid Vaccines
    • DNA Vaccines
    • Recombinant Vaccines
  • Companion Animal Vaccines Market, By Species Type:
    • Canine
    • Avian
    • Feline
  • Companion Animal Vaccines Market, By Distribution Channel:
    • Veterinary Clinics
    • Veterinary Hospitals
    • Veterinary Research Institutes
    • Retail Pharmacies & Others
  • Companion Animal Vaccines Market, By Region:
    • North America
      • By Product Type:
        • Attenuated Live Vaccines
        • Conjugate Vaccines
        • Inactivated Vaccines
        • Subunit Vaccines
        • Toxoid Vaccines
        • DNA Vaccines
        • Recombinant Vaccines
      • By Species
        • Canine
        • Avian
        • Feline
      • By Distribution Channel
        • Veterinary Clinics
        • Veterinary Hospitals
        • Veterinary Research Institutes
        • Retail Pharmacies & Others
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Product Type:
        • Attenuated Live Vaccines
        • Conjugate Vaccines
        • Inactivated Vaccines
        • Subunit Vaccines
        • Toxoid Vaccines
        • DNA Vaccines
        • Recombinant Vaccines
      • By Species
        • Canine
        • Avian
        • Feline
      • By Distribution Channel
        • Veterinary Clinics
        • Veterinary Hospitals
        • Veterinary Research Institutes
        • Retail Pharmacies & Others
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product Type:
        • Attenuated Live Vaccines
        • Conjugate Vaccines
        • Inactivated Vaccines
        • Subunit Vaccines
        • Toxoid Vaccines
        • DNA Vaccines
        • Recombinant Vaccines
      • By Species
        • Canine
        • Avian
        • Feline
      • By Distribution Channel
        • Veterinary Clinics
        • Veterinary Hospitals
        • Veterinary Research Institutes
        • Retail Pharmacies & Others
      • By Country:
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product Type:
        • Attenuated Live Vaccines
        • Conjugate Vaccines
        • Inactivated Vaccines
        • Subunit Vaccines
        • Toxoid Vaccines
        • DNA Vaccines
        • Recombinant Vaccines
      • By Species
        • Canine
        • Avian
        • Feline
      • By Distribution Channel
        • Veterinary Clinics
        • Veterinary Hospitals
        • Veterinary Research Institutes
        • Retail Pharmacies & Others
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product Type:
        • Attenuated Live Vaccines
        • Conjugate Vaccines
        • Inactivated Vaccines
        • Subunit Vaccines
        • Toxoid Vaccines
        • DNA Vaccines
        • Recombinant Vaccines
      • By Species
        • Canine
        • Avian
        • Feline
      • By Distribution Channel
        • Veterinary Clinics
        • Veterinary Hospitals
        • Veterinary Research Institutes
        • Retail Pharmacies & Others
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product Type:
        • Attenuated Live Vaccines
        • Conjugate Vaccines
        • Inactivated Vaccines
        • Subunit Vaccines
        • Toxoid Vaccines
        • DNA Vaccines
        • Recombinant Vaccines
      • By Species
        • Canine
        • Avian
        • Feline
      • By Distribution Channel
        • Veterinary Clinics
        • Veterinary Hospitals
        • Veterinary Research Institutes
        • Retail Pharmacies & Others
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Bayer Healthcare *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Vétoquinol S.A
    • Boehringer Ingelheim
    • Ceva Sante Animal S.A.
    • Eli Lilly and Company (Elcano)
    • Heska Co.
    • Merck Animal Health
    • Merial (Boehringer Ingelheim)
    • Virbac
    • Zoetis.

Browse Press Release: https://www.coherentmarketinsights.com/press-release/companion-animal-vaccines-market-2751

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Name: Mr. Raj Shah
Phone: US +12067016702 / UK +4402081334027
Email: sales@coherentmarketinsights.com
Visit Blog: https://globalindustryresearchblog.wordpress.com/

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