Overview and Scope
Companion animal vaccines are substances that are used to stimulate the production of antibodies and provide immunity against one or several diseases in pets such as dogs, birds, and cats. They are also used to improve food digestion, enhance immunity, enable animals to gain fat and weight, and generate good quality meat that is harvested for commercial purposes.
Sizing and Forecast
The companion animal veterinary vaccines market size has grown strongly in recent years. It will grow from <b>$3.47 billion in 2023 to $3.7 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the historic period can be attributed to pet ownership growth, preventive healthcare, zoonotic diseases, advancements in vaccine technology.
The companion animal veterinary vaccines market size is expected to see strong growth in the next few years. It will grow to <b>$4.79 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. </b> The growth in the forecast period can be attributed to increasing pet population, preventive healthcare awareness, technology and vaccine development, customized vaccination plans. Major trends in the forecast period include comprehensive vaccination programs, advanced vaccine technologies, vector-borne disease control, vaccination clinics and mobile services.
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Segmentation & Regional Insights
The companion animal veterinary vaccines market covered in this report is segmented –
1) By Product: Inactivated, Live Attenuated, Recombinant, Other Products
2) By Route Of Administration: Oral, Parenteral, Other Routes Of Administration
3) By Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores, Other Distribution Channels
<b>North America</b> was the largest region in the companion animal veterinary vaccines market in 2023. <b>Asia-Pacific</b> was the second-largest region in the companion animal veterinary vaccines market. The regions covered in the companion animal veterinary vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased pet ownership by Gen X and Gen Y adults contributed to the growth of the companion animal veterinary vaccine market during the forecast period. According to the APPA, millennial, or Gen Y, represent the largest segment of pet owners for all types of pets. More than 80% of Gen Y and Gen Z own a dog, and 50% or less own a cat as a pet. Multiple pet ownership is also on the rise in some parts of the world. For instance, in February 2023, according to Chewy Inc., a US-based online retailer of pet food and other products, there were around 977,202 pets adopted in the US in 2021, which resulted in the highest adoption rate of 61% in the past six years. . Therefore, the rise in pet ownership aids in the growth of the companion animal veterinary vaccine market.
Key Industry Players
Major companies operating in the companion animal veterinary vaccines market include <b>C.H. Boehringer Sohn AG & Co. KG, Eli Lilly and Company, Heska Corp., Merck and Co. Inc., Elanco Animal Health Incorporated, Zoetis Inc., Ceva Sante Animale SA, Bayer AG, Neogen Corporation, ImmuCell Corporation, Intervet Inc., Vetoquinol SA, IDEXX Laboratories Inc., Merial Inc., Biogenesis Bago SA, Hipra India Pvt. Ltd., Bimeda Animal Health Limited, Phibro Animal Health Corporation, Nexvet Biopharma plc, Bioniche Animal Health Canada Inc., Bioiberica S.A., Laboratorios Hipra S.A., Norbrook Laboratories Ltd., Dechra Pharmaceuticals PLC, Kyoritsu Seiyaku Corporation, VDS Pharma Animal Health, Kepro Technologies Private Limited, ECO Animal Health Group plc, Biostadt India Limited, bio-pharmaceutical company, Choong Ang Vaccine Laboratories Co. Ltd., CZ Veterinaria S.A.</b>
The companion animal veterinary vaccines market report table of contents includes:
1. Executive Summary
2.Companion Animal Veterinary Vaccines Market Characteristics
3.Companion Animal Veterinary Vaccines Market Trends And Strategies
4. Companion Animal Veterinary Vaccines market analysis
5.Companion Animal Veterinary Vaccines Market Size And Growth
6.Companion Animal Veterinary Vaccines Segmentation
7. Companion Animal Veterinary Vaccines Regional And Country Analysis
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27.Companion Animal Veterinary Vaccines Competitive Landscape And Company Profiles
28.Companion Animal Veterinary Vaccines Key Mergers And Acquisitions
29.Companion Animal Veterinary Vaccines Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Boehringer Sohn AG & Co. KG
- Eli Lilly and Company
- Heska Corp.
- Merck and Co. Inc.
- Elanco Animal Health Incorporated
- Zoetis Inc
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