Global Companion Animal Vaccine Market Size, Segmentation, Trends and Growth Analysis Forecast by 2030

Companion Animal Vaccine Market Overview and Analysis:

The Companion Animal Vaccine is currently valued at USD 4.2 billion in the year 2022 and is expected to register a CAGR of 7.6% over the forecast period, 2022-2030.

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Companion animal vaccines are used to prevent infectious diseases caused by various disease-causing agents and protect animals from various life-threatening disorders. 

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 favorable government initiatives are expected to boost the size of the companion animal vaccines market.

Companion Animal Vaccine Market Latest Trends:

The strategic initiatives adopted by government bodies, non-profit organizations, and key market players associated with cancer therapeutics in companion animals are expected to boost the studied market growth over the study period. For instance, in December 2020, the UC Davis Comprehensive Cancer Center within the UC Davis School of Veterinary Medicine received a National Cancer Institute (NCI) grant to fund a comparative oncology training program, which was launched on August 1, 2020. This grant supports institutions developing or enhancing research career development opportunities for pre- and post-doctoral research fellows. Such grants will boost the research activities in cancer vaccine development in companion animals, thereby positively impacting the market growth.

Segmentation:  

The Companion Animal Vaccine Market is Segmented

By Technology

• Live Attenuated Vaccines
• Inactivated Vaccines
• Toxoid Vaccines
• Recombinant Vaccines
• Other

By Animal Type

• Dogs
• Cats,
• Other

Geography

• North America
• Europe
• Asia-Pacific
• Middle East
• Africa
• South America 

The report offers the value (in USD million) for the above segments.

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Drivers:

RISING ADOPTION OF COMPANION ANIMALS SUCH AS DOGS AND CATS

A significant rise in the adoption of pet animals, the growing prevalence of various diseases in animals, coupled with the advancements in companion animal vaccines, are the major factors driving the market’s growth. For instance, in a survey published by the American Veterinary Medical Association (AVMA) in November 2021, both dog and cat populations have increased in recent years, as well as the percentages of households owning dogs or cats. There were approximately 83.7 million dogs, 1.46 dogs per household, from 76.8 million in 2016. According to the Pet Food Manufacturers Association, as of 2021, 3.2 million households in the UK had acquired a pet since the start of the pandemic. There are now 34 million pets in the UK, including 12 million cats, 12 million dogs, 3.2 million small mammals like guinea pigs and hamsters, 3 million birds, and 1.5 million reptiles. Furthermore, according to the data published by the American Veterinary Medical Association in December 2021, animal shelters are a key source of new pet acquisition accounting for 40% of cats and 38% of dogs in 2020. The above-mentioned factors indicate that the rising adoption of companion animals such as cats, dogs, and other pets, is ultimately making owners more aware of the diseases, such as cancer. This is driving the market.

 INCREASING CASES OF ZOONOTIC DISEASES

The increasing number of cases of rabies across the globe is one of the major factors driving the market's growth over the forecast period. Dogs are the leading cause of human rabies mortality and account for up to 99.0% of all human rabies transmissions as of May 2021, according to the World Health Organization (WHO). Similarly, according to the same source, more than 29.0 million people worldwide seek vaccine bites each year, while 40.0% of individuals infected with suspected rabies are infants under 15 years of age. Rabies occurs on all continents except Antarctica, with over 95.0% of human mortality reported in the Asian and African regions. According to the WHO, rabies kills nearly 59,000 people worldwide each year. The prevention of canine rabies through animal vaccination programs and the elimination of stray dogs is likely to reduce rabies infection, however, canine rabies persists in several countries and exposure to rabies still accounts for more than 90.0% of human rabies infections and 99% of human deaths due to rabies worldwide. Thus, due to the rising incidences of various zoonotic among companion animals such as dogs and cats among others, the demand for its vaccines is also expected to boost, thus fuelling the market.

Restraints:

HIGH COST OF VACCINE DEVELOPMENT AND REGULATORY CONCERN

Costs associated with vaccinations have gone up, as numerous indirect costs are associated with the production of vaccines, which include personnel costs for ordering, inventory, insurance against the loss of the vaccines, recovery of costs attributable to inventory shrinkage, wastage, non-payment, and lost opportunity costs. Apart from these factors, the high storage cost is acting as a major restraint, by further limiting the growth of the companion animal vaccines market.​ an article titled” National Veterinary Vaccines Company” updated in August 2022 the total investment cost for manufacturing veterinary vaccines was estimated at USD 55.4 million representing the cost of USD 17.36 million at phase 1 and USD 38.04 million at phase 2 in addition to initial working capital estimated at USD 2.55 million. Such a high cost of vaccine development investment is expected to restrain the growth of the market over the forecast period.

COVID-19 Impact on Companion Animal Vaccine Market

The companion animal vaccine market has been impacted majorly by the COVID-19 pandemic. There are a few known COVID-19 infections among pets globally. According to the American Veterinary Medical Association (AVMA), one cat in Belgium tested positive and recovered after nine days. The AVMA conducted two large surveys of practice owners in April and July 2020 to better understand how COVID-19 has affected veterinary practices. They collected over 3,500 responses representing different practice sizes, types, and species. For example, 84% asked clients to wait in vehicles during treatment in April, which impacted the animal vaccines market. All the research and breeding programs have also been put on hold.​ Similarly, in addition, many government authorities, such as the Centers for Disease Control and Prevention, recommended veterinary hospitals and clinics prioritize urgent and emergency visits and procedures. This may reduce the adoption and usage of diagnostic equipment used in veterinary healthcare management. As per OIE: World Organization for Animal Health, many veterinary laboratories, and other healthcare facilities support the testing of COVID-19 in humans. Thus, due to the factors mentioned above, COVID-19 has initially impacted the growth of the market due to the lockdown and impact on the supply chains. However, later on, companion animal health was declared an ‘essential service’’ in various nations coupled with a high rate of pet adoptions. COVID-19 has positively impacted the growth of the market although it has slightly slowed down the pace of growth of the global companion animal vaccine market over the forecast period.

Segmental Analysis

Live Attenuated Vaccine is Expected to Witness Significant Growth Over the Forecast Period

Live/attenuated vaccines contain a weakened version of the living microbe, making it ineffective in causing diseases. The live attenuated vaccines produce a similar, yet weakened reaction, as compared to that by natural infections. The immune system generates strong cellular and antibody responses that often confer lifelong immunity, with only one or two doses. Development and launch of new vaccines and a robust pipeline are expected to boost the segment growth. For instance, in December 2019, Merck Animal Health launched two new vaccines, namely, the Nobivac EDGE DAPPV + L4, a combo vaccine to include parainfluenza protection, and the Nobivac EDGE dappv combo vaccine to include parainfluenza protection in dogs.

Dogs Vaccination segment is Expected to Witness Significant growth Over the Forecast Period

Dog vaccination plays a significant role in protecting the dog from many fatal diseases. Growing spending on dog healthcare and awareness of vaccination procedures is expected to boost the market over the forecast period. Moreover, core puppy vaccinations and dog vaccinations are being considered and widely adopted to reduce the risk of exposure, the severity of diseases, and the risk of transmission to other dogs, as well as other animal species. In September 2022, the Minister for Animal Husbandry and Dairy Development announced all stray dogs will be vaccinated and steps have been initiated to identify hotspots of dog bites. Thus, the above-mentioned factors are expected to boost the segment's growth.

North America is Expected to Witness Significant growth Over the Forecast Period

The North American region is expected to dominate the companion animal vaccine market throughout the forecast period, due to the high healthcare expenditures, and rising adoption of companion animals such as dogs, cats, and other animals. The market players are adopting various strategies, such as product launches, product developments, collaborations, mergers, acquisitions, and expansions to increase their market positions which is also contributing to the market growth.For instance, in July 2022, The University of Saskatchewan's Vaccine and Infectious Disease Organization completed the construction of its Vaccine Development Centre, strengthening and expanding Canada's domestic biomanufacturing capacity.

Mexico has one of the best rabies prevention programs in the world. The International Fund for Animal Welfare in Mexico made efforts to eradicate rabies from the country with the help of vaccination. According to the data published by the World Health Organization (WHO), in January 2022, Mexico became the first country in the world to receive validation from the WHO for eliminating dog-transmitted rabies as a public health problem with a vaccination program conducted by the Mexican government. Therefore, owing to the aforementioned factors, the studied market is expected to grow over the forecast period.

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Competitive Landscape:

The companion animal vaccine market is moderately competitive. Regarding market share, major players,

• Elanco Animal Health Incorporated
• Boehringer Ingelheim GmbH
• Merck & Co. Inc.
• Zoetis Inc.,
• Bioveta AS,
• Among others

hold the largest market shares. Key players are evolving through various strategic alliances, such as acquisitions, collaborations, and new product launches, to expand their global product portfolios and secure their positions in the global market.

Recent Developments:

1) In May 2022, Ceva Santé Animale (Ceva) acquired the Canadian oral rabies vaccine manufacturer Artemis Technologies, Inc. With this acquisition, Ceva will expand its presence in the segment to North America.

2) In September 2022, Merck Animal Health donated more than five million doses of its NOBIVAC rabies vaccine to help eliminate canine-mediated rabies.                                                                                                         

Frequently Asked Questions (FAQ) :

Q1. How big is the Companion Animal Vaccine Market ?

Q2. What is the Growth Rate of the Companion Animal Vaccine Market ?

Q3. Which Region is expected to hold the highest Market share?

Q4. What segments are covered in the Companion Animal Vaccine Market Report ?