Companion Animal Vaccines Market
The market for companion animal vaccines is expected to grow from 2020 to 2027. The product types that make up this market are recombinant vaccines, live attenuated vaccines, DNA vaccines, conjugated vaccines, toxoid vaccines, inactivated vaccines, and subunit vaccines. The animal types are canines, equines, and felines. The distribution channels include vet hospitals, clinics, and research facilities.
In order to develop a cutting-edge vaccine for infectious diseases like rabies, Lyme disease, cancer, and canine distemper in companion animals, vaccine manufacturers have been given growth opportunities by technological advancements, rising research and development in the fields of pathogenicity, immunology, and epidemiology, and the introduction of genetic engineering.
EVVIVAX, an engineered veterinary vectored immunotherapy and vaccine developing company that provides novel therapeutic options to pet cancer patients, developed Tel-eFax, a novel vaccine in December 2018 that identifies Telomerase, the enzyme that upholds telomeres and prevents them from shortening during cell division. Tel-eFax was shown beneficial in three studies for treating canine B-cell lymphoma, and it is currently being investigated in companion animals for various tumour types.
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Impact
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 nations around the globe and the World Health Organization has labelled it a public health emergency. As of January 20, 2021, more than 96.2 million people worldwide were affected as a result of the coronavirus disease (COVID-19) manifestation, according to a report from the World Health Organization.
Three key ways that COVID-19 might effect the economy include directly altering supply and demand, disrupting distribution networks, and having an economic impact on businesses and financial markets. Many nations, including China, India, Saudi Arabia, the United Arab Emirates, Egypt, and others, are having trouble moving vaccinations from one location to another as a result of widespread lockdowns.
A COVID-19 vaccination for companion animals is being developed by veterinary research facilities as a preventative approach. A vaccine and diagnostic kits are being developed by the Indian Veterinary Research Institute (IVRI) in conjunction with IIT-Roorkee, India, to explore the dynamics of COVID-19 transmission in domestic animals and wild animals, according to a June 2020 announcement. Additionally, due to the rising demand for these vaccinations, the companion animal vaccines market is anticipated to see considerable expansion in the near future. Demand and supply are anticipated to satisfy the needs of customers whose pet vaccination regimens were postponed due to the pandemic after the reopening of manufacturing facilities.
The treatment of various illnesses like cancer, allergies, and diabetes is expected to accelerate the growth of the companion animal vaccines market over the forecast period. Rising healthcare costs for pets are also expected to contribute to the companion animal vaccine market’s significant growth during the forecast period. For instance, the American Pet Products Association (APPA) data from March 2019 states that pet care spending increased by more than 4% in 2018 to US$ 72.5 billion from US$ 69.5 billion in 2017.
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Key Takeaways
The development of innovative companion animal vaccines is predicted to drive increased research by major players and veterinary research institutes, which will result in a CAGR of 6.5% for the worldwide market for companion animal vaccines during the forecast period. For instance, Indian Immunologicals Ltd. introduced the nation’s first canine Parvo virus nasal vaccination in December 2017. The Megavac-P-Nasal vaccination offers protection to puppies between the ages of four and six weeks. It is a live, attenuated canine parvovirus vaccination administered intravenously and generated in cell culture.
The attenuated live vaccine market is predicted to have a significant position in the market in 2020 as a result of benefits of attenuated live vaccines, such as minimising the shedding of viruses that may contaminate animal products for human consumption.
The canine category is predicted to hold the top spot in the market among animal species in 2020 due to the increased frequency of rabies in canines throughout the world.
Orofino Animal Health, Elanco Animal Health Incorporated, Biogénesis Bagó, Boehringer Ingelheim GmbH, HIPRA, Ceva, Zoetis Inc., Merck & Co., Inc., and Virbac are important industry participants in the companion animal vaccination market.
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Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Animal Type
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Developments
- Recent Product Launch and Approvals
- Regulatory Scenario
- PEST Analysis
- Reimbursement Scenario
- Mergers and Acquisitions
- Value Chain Analysis
- Epidemiology
- Market Dynamics
- Global Companion Animal Vaccine Market – Impact of Coronavirus (COVID-19) Pandemic
- Economic Impact
- Research and Development
- Government Measures to combat COVID-19
- Global Companion Animal Vaccine Market, By Product Type, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Attenuated Live Vaccine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Conjugate Vaccine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Inactivated Vaccine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Subunit Vaccine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Toxoid Vaccine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- DNA Vaccine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Recombinant Vaccine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Companion Animal Vaccine Market, By Animal Type, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Canine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Feline
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Equine
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Companion Animal Vaccine Market, By Distribution Channel, 2016 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Veterinary Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Veterinary Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Veterinary Research Institute
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
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