Animal and human lives are socially and economically interlinked. At the same time, animals are exposed to many external and internal factors like disease-causing agents, resulting in increased vulnerability to different diseases. Administering veterinary vaccines is one of the vital tools to prevent disease among animals.
Thus, the growing awareness with regard to animal healthcare is a crucial growth driver of the veterinary vaccines market growth. According to Inkwood Research, the global veterinary vaccines market is anticipated to register a CAGR of 7.37% during 2022-2030.
According to stats, veterinary vaccines account for almost 23% of the global animal health products market. The emerging new diseases, the continuous development of drug resistance by pathogens, and technological advancements in vaccine development contribute to the market’s growth. Also, these vaccines significantly impact public health by minimizing the use of veterinary pharmaceuticals and hormones in the human food chain. For instance, the antibiotics use in animal production has drastically reduced in the United States and European markets.
Product Development – Veterinary Vaccines Market Trend in 2022
There has been increased prioritization of research and development on veterinary medicines, facilitating several developments in product offerings. The aim is to enhance the health & welfare of companion animals, prevent animal-to-human transmission from both wildlife and domestic animals, and cost-effectively increase livestock production.
Additionally, there is a rising demand for vaccines for non-infectious diseases, including cancers and allergies, and those protecting humans from zoonoses. The vital product developments include toxoid vaccines, live attenuated vaccines, conjugate vaccines, activated vaccines, and DNA vaccines. Each of these entails a varied approach with its own limitations and strengths in terms of the stated objectives.
Several market players are increasing their R&D expenditure on veterinary vaccines. For instance, BCG vaccine development against bovine TB, live attenuated vaccines, and DNA vaccines. Such developments offer immense growth opportunities. Some leading market players operating in the market include Virbac SA, Phibro Animal Health Corp, Boehringer Ingelheim Animal Health, Elanco Animal Health, Merck Animal Health, Zoetis Inc, etc.
Veterinary Vaccines Market by Product
The product segment is set to witness steady growth, given the growing prioritization of R&D by market players. such developments enable the players to stay relevant alongside the latest trends. In terms of product type, DNA vaccines is estimated to grow the fastest CAGR over the forecasted years.
Attenuated Live Vaccines
Live attenuation is the earliest vaccination method used in the veterinary field, still under trial to develop additional applications. These aid in minimizing the mortality rate and enhancing the lifespan of disease-affected swine. The live attenuated vaccines segment growth is attributed to the growing predominance of diseases, the developing awareness about the same, and the rising investments from government authorities for inoculation programs. For instance, the Global Alliance for Vaccines and Immunization (GAVI) is a global public-private wellbeing organization that facilitates admittance to vaccination in non-industrial countries.
However, the segment growth is challenged by restricted admittance to fridges in nations with regulations since they have a modest quantity of the debilitated live infection.
The macro-economic and technical superiority have strengthened the prospects of DNA vaccines in the global veterinary vaccines market. Besides, the cost-effectiveness and ease of designing are favorable economic benefits that propel its popularity in the market.
Furthermore, the increasing commercial production of DNA vaccines has surged the revenue for vaccine manufacturing companies. Besides, their notable advantages over conventional vaccines have facilitated their use in certain diseases. For instance, the United States Department of Agriculture (USDA)’s approval of highly pathogenic H5 avian influenza.
The expanding efforts of DNA vaccines will propel opportunities in the global market. However, there are unmet needs in terms of the lack of large-scale utilization of DNA vaccines in poultry.
Veterinary Vaccines Market: Global Performance
With regard to Europe, the EU acknowledges vaccination as an efficient tool to tackle animal diseases, ensure safe public health safety and food production, and promote animal health & welfare. The European Medicines Agency (EMA) and its European medicines regulatory network partners are incorporating strategies to raise the availability of veterinary vaccines in the European Union. For instance, the 2020 EU Medicines Agencies Network Strategy prioritizes increasing the availability of veterinary medicines. Such aspects are favorable to the Europe veterinary vaccines market growth.
In the United States, the presence of well-established pharmaceuticals and the growing efforts for the vast commercialization of vaccination benefit market growth. In addition, the emerging zoonotic infections in livestock and companion animals pose grave public health concerns. Therefore, there is a surging need for animal vaccines and product developments.
Moreover, there has been steady availability of inactivated viral vaccines for a vast range of viral diseases, with more being developed alongside recently emerged diseases. For instance, PCV2 (a one-dose inactivated porcine circovirus type 2, was licensed in the US for preventing post-weaning multi-systemic wasting syndrome in pigs. Such developments constitute the United States veterinary vaccines market prospects.
Overall, companies are striving to lead the market competition and offer best-in-class products through constant innovations. Besides, the demand for companion animals, along with pet humanization, are raising the need for animal healthcare. Such factors are projected to offer lucrative growth opportunities for the global veterinary vaccines market.
Why do younger pets need additional boosters?
Two to four weeks after the initial vaccination, younger pets need an additional booster since it increases the number of antibodies produced, thereby increasing the efficiency of the vaccine.
What are infectious and non-infectious vaccines?
In infectious vaccines, immunizing bacteria replicates within the host after administration. These include all attenuated bacterial and viral vaccines. In non-infectious vaccines, the immunizing bacteria are incapable of replication within the host. These include inactivated viral vaccines and bacterial vaccines.