Companion Animal Vaccine Market Size (2024 - 2029)

The companion animal vaccines market is projected to experience significant growth, driven by factors such as increased pet adoption, heightened awareness of animal health, and the rising prevalence of zoonotic diseases. The market's expansion is further supported by technological advancements in biotechnology and favorable government initiatives. Despite challenges like high vaccine development costs and regulatory concerns, the market is recovering well post-pandemic, with a surge in veterinary visits and the reopening of clinics. Product innovations by key players also contribute to the market's growth trajectory.

Market Size of Companion Animal Vaccine Industry

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Companion Animal Vaccine Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 3.58 Billion
Market Size (2029) USD 4.80 Billion
CAGR (2024 - 2029) 6.02 %
Fastest Growing Market North America
Largest Market Asia-Pacific

Major Players

Companion Animal Vaccine Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Companion Animal Vaccines Market Analysis

The Companion Animal Vaccine Market size is estimated at USD 3.58 billion in 2024, and is expected to reach USD 4.80 billion by 2029, growing at a CAGR of 6.02% during the forecast period (2024-2029).

The impact of the COVID-19 pandemic on the market is expected to be significant. Pet adoption has increased tremendously during the pandemic, which has resulted in increased animal health care and thus drives the growth of veterinary vaccines. For instance, according to the People's Dispensary for Sick Animals (PDSA) PDSA Animal Wellbeing (PAW) report published in June 2021, 2 million people in the United Kingdom has acquired a pet between March 2020 to May 2021. Out of these pets, 10% are dogs, 8% are cats and 13% are rabbits. Such a high rate of pet adoption in different regions around the world has increased focus on the healthcare of animals and thus drives the growth of the studied market. Additionally, the coronavirus spreads from animal to animal with contact or aerosol transmission, thus infecting other animals. As a result, the market players are getting involved in manufacturing companion animal vaccines against COVID-19. For instance, in July 2021, Zoetis donated over 11,000 doses of its experimental COVID-19 vaccine to help protect the health and well-being of animals. On the other hand, in April 2021, Russia registered the first global COVID-19 vaccine called Carnivac-Cov for animals. Thus, the growing cases of COVID-19 infections in domestic and wild animals promoted the acceptance of animal vaccines for safeguarding preventive animal health, thus soaring industry growth. However, the sector has been recovering well since restrictions were lifted. An increase in veterinary visits, and reopening of veterinary clinics have been leading the market recovery over the last two years.

The market is driven by the rising prevalence of animal diseases, technological advancements in biotechnology, and increasing awareness of animal diseases. Rising incidents of animal bites, animal welfare campaigns, and favourable government initiatives are expected to boost the size of the companion animal vaccines market.

A high degree of public awareness about companion animals among the population has led to an increase in the adoption of these animals for social well-being and a healthy lifestyle, which in turn, led to an increase in pet ownership. For instance, the 2022 data published by the Der Deutsche Heimtiermarkt stated that 47% of the households in Germany had pets in 2021. Additionally, the data published by the European Pet Food Industry: Facts and Figures 2022 report showed that the estimated percentage of Spain households owing at least one cat was 27%, and one dog was 16% in 2021. Thus, the rising adoption of pets increases the vaccination programs for companion animals, which is expected to fuel the market growth over the forecast period.

Furthermore, the number of zoonotic disease cases in companion animals has risen significantly in recent years, contributing to market growth. For instance, as per the data published by USDA in May 2022, around 37.96 million birds were affected by the highly pathogenic avian influenza virus 2022. The large bird population affected by the disease requiring efficient therapeutic measures is adding to the growth of the companion animal vaccine market in the region. Additionally, from the data published by the Government of Canada in January 2022, it has been observed that 709 cases of Lyme disease were reported in Quebec in 2021 compared to 274 cases in 2020. Thus, with the rise in the number of cases, the necessity to treat and prevent the disease from spreading has increased, which is anticipated to boost the demand for companion animal vaccines over the forecast period.

Product launches by the key market players are expected to boost market growth. For instance, in October 2021, Boehringer Ingelheim, a global leader in animal health, has introduced the Purevax vaccination series for cats in 0.5 ml packaging. Purevax's innovative packaging makes cat vaccination more convenient, providing for a more comfortable immunization experience for feline patients.

However, the high vaccine development cost and regulatory concerns are expected to restrain the market growth over the forecast period.

Companion Animal Vaccines Industry Segmentation

As per the report's scope of the report, companion animal vaccines are used to prevent infectious diseases caused by various disease-causing agents and protect animals from various life-threatening disorders. The companion animal vaccine market is segmented by technology (live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and other technologies), animal type (dogs, cats, and other animal types), and geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (USD million) for the above segments.

By Technology
Live Attenuated Vaccines
Inactivated Vaccines
Toxoid Vaccines
Recombinant Vaccines
Other Technologies
By Animal Type
Dogs
Cats
Other Animal Types
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
South America
Brazil
Argentina
Rest of South America
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Companion Animal Vaccine Market Size Summary

The companion animal vaccine market is poised for significant growth, driven by increased pet adoption and heightened focus on animal healthcare. The COVID-19 pandemic has notably accelerated pet ownership, leading to a surge in demand for veterinary vaccines. This trend is further bolstered by the rising prevalence of zoonotic diseases and the need for preventive measures to safeguard animal health. Technological advancements in biotechnology and increased awareness of animal diseases are also contributing to market expansion. The market is characterized by strategic activities from key players, including product launches and collaborations, which are enhancing their global presence and product offerings.

North America is expected to witness substantial growth in the companion animal vaccine market, supported by advanced veterinary healthcare infrastructure and a growing number of insured pets. The region's high spending on pet health is creating opportunities for the development of innovative vaccines. The market is moderately competitive, with major players like Elanco Animal Health, Boehringer Ingelheim, Merck & Co., Zoetis, and Bioveta holding significant shares. These companies are actively engaging in strategic alliances to strengthen their market positions. Despite challenges such as high vaccine development costs and regulatory concerns, the market is anticipated to grow steadily, driven by the increasing adoption of companion animals and the ongoing demand for effective vaccination programs.

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Companion Animal Vaccine Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Adoption of Companion Animals, such as Dogs and Cats

      2. 1.2.2 Increasing Cases of Zoonotic Diseases

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of Vaccine Development and Regulatory Concern

    4. 1.4 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - in USD Millions)

    1. 2.1 By Technology

      1. 2.1.1 Live Attenuated Vaccines

      2. 2.1.2 Inactivated Vaccines

      3. 2.1.3 Toxoid Vaccines

      4. 2.1.4 Recombinant Vaccines

      5. 2.1.5 Other Technologies

    2. 2.2 By Animal Type

      1. 2.2.1 Dogs

      2. 2.2.2 Cats

      3. 2.2.3 Other Animal Types

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East & Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East & Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Companion Animal Vaccine Market Size FAQs

The Companion Animal Vaccine Market size is expected to reach USD 3.58 billion in 2024 and grow at a CAGR of 6.02% to reach USD 4.80 billion by 2029.

In 2024, the Companion Animal Vaccine Market size is expected to reach USD 3.58 billion.

Companion Animal Vaccines Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)