Who are the key players in Veterinary Vaccines Market?

Zoetis Inc., Merck & Co. Inc., Virbac, Boehringer Ingelheim International GmbH and Elanco Animal Health are the major companies operating in the Veterinary Vaccines Market. Read More

Which is the fastest growing region in Veterinary Vaccines Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Veterinary Vaccines Market?

In 2024, the North America accounts for the largest market share in Veterinary Vaccines Market. Read More

What years does this Veterinary Vaccines Market cover, and what was the market size in 2023?

In 2023, the Veterinary Vaccines Market size was estimated at USD 16.70 billion. The report covers the Veterinary Vaccines Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Veterinary Vaccines Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Veterinary Vaccines Market Size

Market Size of Veterinary Vaccines Industry

Study Period	2019 - 2029
Market Size (2024)	USD 18.18 Billion
Market Size (2029)	USD 26.87 Billion
CAGR (2024 - 2029)	8.13 %
Fastest Growing Market	Asia Pacific
Largest Market	North America
Major Players *Disclaimer: Major Players sorted in no particular order

Veterinary Vaccines Market Analysis

The Veterinary Vaccines Market size is estimated at USD 18.18 billion in 2024, and is expected to reach USD 26.87 billion by 2029, growing at a CAGR of 8.13% during the forecast period (2024-2029).

An increase in pet adoption in recent years worldwide is expected to boost the demand for companion animal vaccines during the forecast period. For instance, according to data updated by the European Pet Food Industry Federation (FEDIAF), in July 2023, the dog population in the region was over 66.8 million, while the cat population was over 77.9 million. Moreover, according to the same source, in Poland, over 49% of the households owned at least one dog, and over 40% owned a cat in 2023. Such a high rate of pet adoption in the country has increased the focus on the healthcare of animals, thus increasing the demand for appropriate pet vaccines, which is expected to boost market growth.

Additionally, the rising burden of zoonotic diseases is expected to propel the demand for animal vaccines, thereby boosting market growth during the forecast period. For instance, the increasing number of cases of rabies is one of the major factors expected to drive the market's growth over the forecast period. For instance, as per the April 2024 update by the World Health Organization, Oecusse Municipality reported 95 dog exposures, with 10 dogs testing positive for rabies through rapid diagnostic tests in April 2024; among the 95 exposures, seven individuals were bitten by dogs confirmed to have rabies.

The strategic initiatives by governments worldwide for the vaccination of animals are expected to propel market growth. For instance, in June 2022, Indonesia launched a nationwide livestock vaccination program as the number of cattle infected with foot and mouth disease surged to more than 151 thousand. These initiatives create opportunities for market players to develop innovative and effective veterinary vaccines, which is expected to propel market growth.

Therefore, owing to factors such as the high burden of zoonotic diseases, rising pet adoption and vaccination programs, and launches by market players, the market studied is anticipated to witness growth during the forecast period. However, the high storage costs for vaccines and the shortage of veterinarians and skilled farm workers are estimated to restrain market growth.

Veterinary Vaccines Industry Segmentation

As per the scope of the report, veterinary vaccines are used to immunize domestic, livestock, or wild animals. The veterinary vaccines market is segmented by vaccine type, technology, and geography. By vaccine type, the market is divided into livestock vaccines and companion animal vaccines. By technology, the market is divided into live-attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, and other technologies. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (USD) for the above segments.

By Vaccine Type

Livestock Vaccines
	Bovine Vaccines
	Poultry Vaccines
	Porcine Vaccines
	Other Livestock Vaccines

By Companion Animal Vaccines
	Canine Vaccines
	Feline Vaccines
	Equine Vaccines

By Technology
		Live Attenuated Vaccines
		Inactivated Vaccines
		Toxoid Vaccines
		Recombinant Vaccines
		Other Technologies

By 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 and Africa
	GCC
	South Africa
	Rest of Middle East and Africa

South America
	Brazil
	Argentina
	Rest of South America

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Veterinary Vaccines Market Size Summary

The veterinary vaccines market is poised for significant growth, driven by an increase in pet adoption and the rising prevalence of zoonotic diseases. The demand for companion animal vaccines is expected to surge as more households worldwide welcome pets, necessitating enhanced healthcare solutions for these animals. This trend is particularly evident in regions like Europe and India, where pet populations are substantial. Additionally, the growing incidence of zoonotic diseases, such as rabies, is prompting a heightened focus on animal vaccination to curb these health threats. Government initiatives, such as nationwide vaccination programs, further support market expansion by creating opportunities for innovative vaccine development. However, challenges such as high storage costs and a shortage of skilled veterinarians may impede growth.

The market is characterized by a semi-consolidated landscape with major players like Zoetis Inc., Merck & Co. Inc., and Boehringer Ingelheim International GmbH, who are actively engaged in product launches and strategic partnerships to enhance their market presence. The increasing pet population and rising expenditure on pet care, particularly in North America, are fueling demand for advanced veterinary vaccines. Market players are also expanding their reach through acquisitions and donations, as seen with Ceva Sant√© Animale's acquisition of Artemis Technologies Inc. and Merck Animal Health's donation of rabies vaccines. These strategic moves, coupled with the growing awareness of animal health, are expected to drive the market's growth trajectory over the forecast period.

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Veterinary Vaccines Market Size - Table of Contents

1. MARKET DYNAMICS
1. 1.1 Market Overview
2. 1.2 Market Drivers
  1. 1.2.1 Increasing Incidence of Livestock Diseases
  2. 1.2.2 Increasing Pet Adoption Globally
  3. 1.2.3 Initiatives by Government Agencies, Animal Associations, and Leading Players
3. 1.3 Market Restraints
  1. 1.3.1 High Storage Costs for Vaccines
  2. 1.3.2 Shortage of Veterinarians and Skilled Farm Workers
4. 1.4 Porter's Five Forces Analysis
  1. 1.4.1 Threat of New Entrants
  2. 1.4.2 Bargaining Power of Buyers/Consumers
  3. 1.4.3 Bargaining Power of Suppliers
  4. 1.4.4 Threat of Substitute Products
  5. 1.4.5 Intensity of Competitive Rivalry
2. MARKET SEGMENTATION (Market Size by Value - USD)
1. 2.1 By Vaccine Type
  1. 2.1.1 Livestock Vaccines
    1. 2.1.1.1 Bovine Vaccines
    2. 2.1.1.2 Poultry Vaccines
    3. 2.1.1.3 Porcine Vaccines
    4. 2.1.1.4 Other Livestock Vaccines
  2. 2.1.2 By Companion Animal Vaccines
    1. 2.1.2.1 Canine Vaccines
    2. 2.1.2.2 Feline Vaccines
    3. 2.1.2.3 Equine Vaccines
2. 2.2 By Technology
  1. 2.2.1 Live Attenuated Vaccines
  2. 2.2.2 Inactivated Vaccines
  3. 2.2.3 Toxoid Vaccines
  4. 2.2.4 Recombinant Vaccines
  5. 2.2.5 Other Technologies
3. 2.3 By 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 and Africa
    1. 2.3.4.1 GCC
    2. 2.3.4.2 South Africa
    3. 2.3.4.3 Rest of Middle East and 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