Veterinary Vaccine Market– Insights
Veterinary vaccination protect the animals from various disease, thus increasing their life expectancies. Rabies, E. coli, distemper, hepatitis rotavirus, parvovirus, brucellosis, and pinkeye are some of the most common vaccines available today in market. These vaccines are important for animal to protect them from diseases such as foot-and-mouth disease and influenza adversely affect livestock across the globe. There is a significant economic losses due to death of livestock, as it impacts the supply of dairy products, meat, and other poultry products.
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Veterinary biologics are governed by the U.S. Department of Agriculture (USDA) Center for Veterinary Biologics. According to the American Veterinary Medical Foundation, core vaccines such as rabies, feline viral rhinotracheitis, feline panleukopenia, canine parvovirus infection, and canine hepatitis are recommended for every pet, while non-core vaccines such as canine kennel cough and feline leukemia are recommended based on specific needs of the animal. However, lack of awareness among pet owners and livestock managers are projected to hinder growth of the veterinary vaccines market, especially in emerging economies.
The global veterinary vaccine market was valued at US$ 6,766.5 million in 2018, and is expected to exhibit a CAGR of 6.2% over the forecast period (2019-2027).
Viral Outbreaks in Companion and Livestock Population is projected to Drive Growth of Global Veterinary Vaccine Market
Outbreak of virus such as nipah virus, swine flu, canine influenza, bird flu, and avian influenza are projected to drive growth of the veterinary vaccine market over the forecast period. For instance, Nipah virus outbreak found in equine veterinarians in 2018 has influenced scientists to create vaccine, for global concerns. Furthermore, in 2018, the World Health Organization listed Nipah infection as a public health risk with epidemic potential.
Moreover, in May 2018, Coalition for Epidemic Preparedness Innovations (CEPI), announced it would grant around US$ 25 million over the next five years to the U.S. pharma firms such as Profectus BioSciences and Emergent BioSolutions to advance the development of vaccine against viral infection, which has proved to be fatal in 70% of the cases.
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Veterinary Vaccine Market- Restraints
High costs of storage and complex methodology for vaccines is projected to hinder growth of the veterinary vaccine market over the forecast period. For instance, proper vaccine storage and handling is important factor in preventing and eradicating various common vaccine-preventable disease. Each year failure of storage and handling errors led to revaccination of many patients and significant financial loss due to wasted vaccines. Moreover, improper storage and handling pf vaccines can reduce vaccine potency, resulting in inadequate immune responses in patients, and poor protection against diseases.
Additionally, all vaccines used in small and large animal veterinary medicine, such as lyophilized (freeze-dried) and liquid forms, are stored in the dark with temperature of 35°F (2°C) and 45°F (7°C). A few veterinary vaccines such as poultry and fish vaccines are needed to be kept frozen. Moreover, technicians working with frozen vaccines should contact the key producer for specific storage instructions, which requires high expenditure for storage of vaccines.
Veterinary Vaccine Market- Regional Insights
On the basis of region, the global veterinary vaccine market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is projected to hold a leading position in the global veterinary vaccine market during the forecast period, due to growing number of pet owners and their prefrences towards healthy animal practices. For instance, according to the National Pet Owners Survey, 2017-2018, 68% or 85 million families owned pet animals in the U.S.
Moreover, Asia Pacific is projected to experience significant growth in the global veterinary vaccine market owing to growing product launches. For instance, in January 2019, Boehringer Ingelheim launched swine vaccine Ingelvac PRRS MLV in China.
Veterinary Vaccine Market- Competitive Landscape
Key players operating in the global veterinary vaccine market include Aratana Therapeutics, Inc., Regeneus Ltd., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Zoetis, Inc., Eli Lilly and Company, Merck & Co., Inc., and Boehringer Ingelheim GmbH.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global Veterinary Vaccine Market Size Analysis from 2021 to 2027
11.6 COVID-19 Outbreak: Veterinary Vaccine Industry Impact
Chapter 2 Global Veterinary Vaccine Competition by Types, Applications, and Top Regions and Countries
2.1 Global Veterinary Vaccine (Volume and Value) by Type
2.3 Global Veterinary Vaccine (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Veterinary Vaccine Sales, Consumption, Export, Import by Regions (2016-2021)
Chapter 5 North America Veterinary Vaccine Market Analysis
Chapter 6 East Asia Veterinary Vaccine Market Analysis
Chapter 7 Europe Veterinary Vaccine Market Analysis
Chapter 8 South Asia Veterinary Vaccine Market Analysis
Chapter 9 Southeast Asia Veterinary Vaccine Market Analysis
Chapter 10 Middle East Veterinary Vaccine Market Analysis
Chapter 11 Africa Veterinary Vaccine Market Analysis
Chapter 12 Oceania Veterinary Vaccine Market Analysis
Chapter 13 South America Veterinary Vaccine Market Analysis
Chapter 14 Company Profiles and Key Figures in Veterinary Vaccine Business
Chapter 15 Global Veterinary Vaccine Market Forecast (2021-2027)
Chapter 16 Conclusions
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