Veterinary Vaccines Market | 2021 Size, Growth, Insights, Share, Emerging Trends Forecast to 2027

[Nita Sonwane]

The global veterinary/animal vaccines market size is projected to hit USD 16.01 billion by the end of 2026 attributed to the increasing awareness about animal diseases and the increasing importance of animal health and welfare. Animals are exposed to various internal and external factors that act as disease-causing agents, thereby leading to communicable or fatal animal diseases.

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Therefor animal vaccination is a significant factor that allows humans and animals to share the same environment, especially for pet owners. As per a recent report by Fortune Business Insights titled, “Veterinary/Animal Vaccines Market Size, Share & Industry Analysis, By Product (Inactivated, Live Attenuated, Recombinant, Others), By Animal (Companion, Livestock), By Route of Administration (Oral, Parenteral, Others), By Distribution Channel (Veterinary Hospitals, Veterinary Clinics, Pharmacies & Drug Stores, Others) and Regional Forecast, 2019-2026,” the market value was USD 9.75 billion in 2018 and is expected to exhibit a CAGR of 6.4% between 2019 to 2026, set as the forecast duration.

The current pandemic of COVID-19 has propelled many industries to come to a halt. Most of the import-export businesses worldwide are facing huge losses both in terms of revenue generation as well as market position in the country. However, this too shall pass. Various government initiatives are expected to bode well for companies. We are offering an impact analysis of the covid-19 pandemic and its effect on various industries to help you prepare for the future.

Rise in Number of Zootonic Diseases Worldwide to Propel Demand

The increasing number of farm animals and pet owners worldwide and the importance given to the health and well-being of their pets are major factors boosting the veterinary vaccines market growth. Additionally, the increasing number of animal cultivation practices for benefits such as milk, meat, eggs, wool, and others is also adding impetus to the market. Besides this, the rise in the number of zoonotic diseases and the increasing number of veterinary health care centers is expected to aid in the expansion of the market in the coming years.

Inactivated and Live Attenuated Vaccines Segment to Emerge Dominant Owing to High Preference

Based on segmentation by product, the inactivated and live attenuated segment earned the highest animal vaccine market share in 2018. Among these, the inactivated segment earned a 33.9% share in 2018. Even though these two vaccines have associated limitations and are conventional vaccines, they collectively earned the highest share.