Companion Animal Vaccines Market to be Valued at Nearly US$ 4,500 Million by the End of 2026

Companion animal vaccines are used to stimulate an immune response in pets such as canine, avian and feline. These vaccine products are of various types such as Attenuated Live Vaccines, Conjugate Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, DNA Vaccines and Recombinant Vaccines. Attenuated live vaccines are derived from disease-causing pathogens such as virus or bacteria, which have been weakend under laboratory conditions. Conjugate vaccines are an antigen or toxoid-containing preparation that is linked to polysaccharides and stimulate the immature immune system to defend against the disease-causing organism. Inactivated vaccines are made from microorganisms such as viruses and bacteria that have been killed through physical or chemical processes. Subunit vaccines, like inactivated whole-cell vaccines, do not contain live components of the pathogen. Toxoid vaccines are based on the toxin produced by certain bacteria, which is rendered harmless and used as the antigen in the vaccine to elicit an immune response. DNA vaccines are manufactured by inserting DNA into a bacterial plasmid, which functions as the vector. Recombinant vaccines are produced by genetic engineering technology and use attenuated virus or bacterium as a vector to introduce microbial DNA to the cells of the body.

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According to Future Market Insights’ research, lack of information on emerging virulent veterinary diseases, and decline sales revenues through veterinarians can stifle demand for companion animal vaccines during the forecast period. The longstanding challenges with correctly identifying and understanding antigen/immunogenic structures can also negatively impact the growth of the market. 

Nearly US$ 764 Mn worth of attenuated live vaccines were sold globally in 2016. This segment is projected to grow at a CAGR of 7.3% during the forecast period 2016-2026.   

Veterinary clinics continue to be the preferred distribution channel for pharma companies, followed by veterinary hospitals. These two point of care centres witness substantial footfall of pet owners all year round, and drug companies continuously focus on increasing sales through these channels. In 2016, these two distribution channels collectively accounted for nearly 75% revenue share of the market. By the end of forecast period, the status quo is expected to remain unchanged. Retail pharmacies, which held 20% share of the market in 2016, will grow at the highest CAGR during the forecast period. 

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 The U.S. continues to be a leading market for companion animal vaccines. High level of awareness among pet owners, combined with easy availability of pet healthcare have resulted into the growth of the market in the U.S. On account of strong demand in the U.S., North America will continue to be the largest market globally. 

The North America companion animals market was valued at nearly US$ 676 in 2016. It is projected to increase at 6.9% CAGR through 2026, reaching over US$ 1.3 Bn in revenues. Western Europe, the second-largest market for companion animal vaccines is projected to grow at 7.1% CAGR through 2026. 

Overall, Future Market Insights maintains a positive outlook on the global companion animal vaccines market, projecting it to grow at 6.8% CAGR during the forecast period 2016-2026. 

Zoetis Inc. will continue to account for a leading share of the US$ 2.26 Bn (2016) global companion animal vaccine market. The pharmaceutical company accounted for over 46% share of the global market in 2015, and it is expected to maintain its numero uno position during the forecast period 2016-2026. Merck & Co., Inc. and Merial, will remain the other key players in this market. 

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Companion Animal Vaccines Market to Grow on Account of Burgeoning Number of Pet Owners Worldwide

Global Companion Animal Vaccines Market: Snapshot

Companion animals such as dogs, cats, and horses are growing as a part of the urban population. The demand in the global market for companion animal vaccines is primarily owing to the growing prevalence of various animal diseases, technological advancements regarding the diagnostic and therapeutic with efficient drugs, developments in the field of biotechnology, and growing awareness among the consumers as a result of social media government initiatives. In various countries, stringent rules have been applied to preserve and protect companion animals, which if followed by regular checks regarding the health of the animals. This is another factor reflecting positively on the global companion animal vaccines market. On the other hand, rising cost for the storage of vaccines and inadequate reporting systems are hindering the global companion animal vaccines market from attaining its true potential.

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This report is a summation of all important aspects of the global market for companion animal vaccines, prepared by a group of professional market research analysts, aspiring to serve as a reliable business document for the stockholders of this market, such as pharmaceutical companies, government agencies, traders and distributors of vaccines, and veterinary doctors. The report segments the market for companion animal vaccines into smaller aspects, catches the latest trends, analyzes the most prominent drivers and restraints, and profiles some of the key companies in order to represent the competitive landscape.

Companion Animal Vaccines Market: Overview

As sweeping societal changes occur worldwide, the trend of having animals as companions is on the rise. Many lonely aged people, nuclear families, and single persons are choosing to have an animal in their household. Estimates show that in the United States alone, about 62% of all households have a pet. Pet ownership numbers are also rising in other countries worldwide.

However, animals are also the carriers of various diseases and infections that could be contracted by humans around them. Likewise, companion animals also stand the risk of contracting infections or diseases from humans around them. Vaccination is thus an important aspect that pet owners are urged not to neglect – for the safety of both the pets and owners alike.

The companion animal vaccines market has seen an uptick in revenues in keeping with the growing popularity of keeping pets at home. Regular planned vaccinations are now regarded as being integral to the entire pet rearing and maintenance process. Consequently, the formulation of newer varieties of companion animal vaccines is helping this progress. Companion animal vaccines are administered not just to pets such as dogs, cats, pet reptiles, and the like, but also to livestock.

TMR projects a positive outlook for the global companion animal vaccines market in the near future. The market is expected to grow on account of the burgeoning number of pet owners in developing regions as well. The report is a comprehensive compilation of the emergent trends that are projected to palpably impact the future of this market and how companies are responding to this change.

Global Companion Animal Vaccines Market: Key Drivers and Restraints

Concerns associated with the rising prevalence of zoonotic diseases and the discovery of new diseases among animals are providing a push to the companion animal vaccines market. Besides this high-impact driver, the market is also gaining from the growing focus on implementing animal welfare initiatives and governments laying more emphasis on keeping animal-related diseases in check.

However, developing animal vaccines is a rather lengthy and expensive process – the impact of which can be seen in the form of the high prices that these vaccines command. That puts them beyond the reach of some consumer classes, especially if suitable reimbursement schemes are not available to them. The other factor that is negatively impacting the companion animal vaccines market for livestock is the growing number of vegetarians in the world who may consume dairy products but not meat.

Global Companion Animal Vaccines Market: Key Segments

The report classifies the global companion animal vaccines market basis the following criteria: diseases, product, and technology. Based on product type, the market is segmented into feline, canine, bovine, and others. Likewise, the diseases for which companion animal vaccines are available include: Rabies, hepatitis, leukemia, and others.

By technology used for the development and formulation of the vaccine, the global companion animal vaccines market has been segmented thus: DNA, recombinant, inactivated, toxoid, conjugate, and other vaccines. Considerable research is being undertaken to formulate more effective vaccines with lower price tags.

Global Companion Animal Vaccines Market: Regional Outlook

The global market for companion animal vaccines has been segmented as follows: Asia Pacific, North America, Europe, and Rest of the World. TMR projects the market to fare well in North America and Europe, where pet ownership numbers as well as meat consumption have been traditionally high. Europe currently accounts for a sizeable share in the global companion animal vaccines market.

In Latin American and Asian countries, a new class of affluent consumers is emerging. These consumers are keener on having a companion animal in their household and will thus fuel the global market for companion animal vaccines. The vast population here and the untapped opportunities mean that market players have considerable gains to make by targeting these regions.

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Top players in the global companion animals market are: Merial Inc. (Sanofi), Bayer Healthcare, Boehringer Ingelheim (Germany), Novartis Animal Health Inc., and Merck Animal Health (U.S).

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