Global Veterinary Vaccines Market Expected to Reach USD 15,632.4 Million by 2034 at a 5.2% of CAGR Amid Rising Demand for Advanced Pet Care

Global Veterinary Vaccines Market

The global veterinary vaccines market is projected to experience steady growth, with an estimated valuation of USD 9,433.9 million in 2024. Fueled by a compound annual growth rate (CAGR) of 5.2% from 2024 to 2034, the market is expected to reach USD 15,632.4 million by 2034.

As pet ownership continues to rise worldwide, pet owners are increasingly prioritizing advanced care and preventive health measures for their animals. This trend is leading to greater investments in quality pet food, veterinary treatments, and vaccines to safeguard animal health. With heightened awareness about disease prevention, vaccines are becoming essential in veterinary care for dogs, cats, birds, and other companion animals.

The adoption of innovative veterinary treatments and preventative technologies is expected to further drive growth in the veterinary vaccines market, as pet owners seek effective ways to enhance the quality of life and longevity of their pets. Veterinary vaccine manufacturers are also expanding their offerings to meet the diverse needs of pet and livestock owners alike.

Vaccine developments are is on the rise aid by the increased R&D investments by government entities are creating a robust opportunities to the vaccine industry. These millions of dollars’ worth of investments indicate a well thought out plan to enhance animal health by coming up with new vaccines.

For instance, large sums of money are being pumped into vaccine development for animals by America and Great Britain in recent times. These monies, which run into millions, have been channeled to different segments of the veterinary vaccine industry such as research institutions, universities, public entities and industry players.

The funding has helped to initiate research initiatives that are intended to tackle common diseases in livestock as well as enhancing the effectiveness of veterinary vaccines.

More precisely, according to the Global AMR R&D Hub, nearly 80% or USD 54 million out of 53 projects in 2021 found their way from USA, Great Britain and European Union (EU) which separately contributed USD 19 million, USD 18 million and USD 16 million.

Competitive Landscape of the Veterinary Vaccines Industry

The veterinary vaccines industry is consolidated with the presence leading manufacturers. Key players in the livestock vaccination industry are increasingly focusing on product development, including obtaining approvals from regulatory bodies and launching new products.

The launch of new vaccines following regulatory approvals not only addresses emerging disease threats but also meets the growing demand for advanced veterinary solutions, thereby strengthening the industry presence of these companies.

Recent Industry Developments in the Veterinary Vaccines Market

• In May 2024, MSD Animal Health, a division of Merck & Co., Inc., Rahway, N.J., USA, has announced that the European Commission has approved the marketing authorization for the INNOVAX®-ND-H5 vaccine for chickens.
• In July 2020, Elanco Animal Health announced the launch of the first oral flea and tick product for cats, Credelio® CAT (lotilaner)
• In June 2024, At the World Buiatrics Congress in Mexico, HIPRA introduced the new DIVENCE® range, showcasing advanced vaccines designed to significantly enhance the prevention of major viral diseases in cattle.

Key Players of the Veterinary Vaccines Industry

• Bioveta, Inc.
• Merck & Co., Inc. (MSD Animal Health)
• Zoetis Services LLC.
• Elanco (Eli Lilly)
• Ceva
• Boehringer Ingelheim International GmbH
• Kemin Industries, Inc.
• HESTER BIOSCIENCES LIMITED
• Phibro Animal Health Corporation
• Virbac
• LETI Pharma
• Ourofino
• HIPRA
• Jinyu Biotechnology Co., Ltd.
• Indian Immunologicals Ltd.
• Vaxxinova
• Biogénesis Bagó

A Comprehensive Full Report

Veterinary Vaccines Market Segmentation

By Technology:

In terms of technology, the industry is segregated into attenuated live vaccines technology, inactivated vaccines technology, subunit vaccines technology, toxoid vaccines technology, and DNA vaccines technology

By Animal:

In terms of animal, the industry is segregated into companion animals (canine, avian, and feline), livestock animals [ruminants, camels, sheep, goats, poultry (breeders, broilers, and layers), equine, bovine, porcine], and aquaculture.

By Disease Indication:

In terms of disease indication, the industry is segregated into Foot & Mouth Disease (FMD), Newcastle Disease, Porcine Reproductive & Respiratory Syndrome (PRRS), Canine Parvovirus, Brucellosis, Avian Influenza, and others

By Distribution Channel:

In terms of distribution channel, the industry is segmented into veterinary hospital pharmacies, veterinary clinics, retail pharmacies, and online pharmacies.

By Region:

Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, Central Asia, Russia & Belarus, Balkan & Baltic Countries, and Middle East & Africa have been covered in the report.

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube