Published on : Aug 26, 2016
The increasing prevalence of zoonotic diseases, increased efforts by non-government and government organizations for education individuals about increasing diseases in animals have fuelled the overall market for global veterinary vaccines market. In addition, the growing effective treatments to cure the growing rate of zoonotic diseases will further augment the development of this market.
Live Attenuated Vaccines to Lead Market till 2024
In terms of technology type, the market is segmented into inactivated vaccines, live attenuated vaccines, conjugate vaccines, toxoid vaccines, and other vaccines. Amongst these varieties of vaccines, the live attenuated vaccines segment currently leads the market with a share of over 44% in 2015. This segment is predicted to exhibit a CAGR of 6.80% from 2016 to 2024. This segment is poised to maintain its superiority all through 2024. This is owing to the increasing safety, transport, affordability, ease of administration, and durability of these types of vaccines.
On the other hand, the market for attenuated vaccines can be manufactured at low costs as compared to inactivated vaccines and thus can be made in bulk, hence their demand is predicted to rise in the coming years.
Soaring Count of Companion Animals in Emerging Nations to Make them Dominant in Veterinary Vaccines Market
In terms of geography, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. Of these, North America held a dominant share of approximately 37% in the market in 2025. The increasing rise in the ownership of pets within this region, particularly in the U.S is the main factor fuelling the need for veterinary vaccines within this region.
The North America veterinary vaccines market will remain at the forefront in terms of revenue, still the emerging economies of Asia Pacific, Latin America, and the Middle East and Africa are predicted to emerge as promising markets in the coming years. The soaring count of farm and companion animals in all these regions and the growing occurrence of zoonotic diseases will fuel the growth of the market in these regions.
Ceva Santé Animale, Merck Animal Health, Bayer AG, Bimeda, Inc., Sanofi (Merial Animal Health), Eli Lilly and Company (Elanco Animal Health), Boehringer Ingelheim GmbH, Virbac, Zoetis, Inc., among others, are the chief players in the market for veterinary vaccines.