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Companion Animal Vaccines Market Analysis (2020-2027)

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Companion Animal Vaccines Market Analysis (2020-2027)

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. COMPANION ANIMAL VACCINES MARKET ANALYSIS (2020 – 2027) • Companion Animal Vaccine Market, by Product Type (Live Attenuated Vaccine, Conjugated Vaccine, Inactivated Vaccine, Subunit Vaccine, Toxoid Vaccine, DNA Vaccine, and Recombinant Vaccine), by Animal Type (Canine, Feline, Equine, and Others), by Distribution Channel (Veterinary Clinics, Veterinary Hospitals, and Veterinary Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  3. Veterinary vaccines play a crucial role in ensuring longevity, good health and improving overall productivity of pets, in a cost-effective manner. Veterinary vaccines also play an important role in reducing transmission of various diseases from animals to humans. Companion animal vaccines are parenteral products that are used in prophylactic treatment of various diseases transmitted by animals as well as for treatment of various veterinary diseases.

  4. The companion animal vaccines market is expected to witness significant growth during the forecast period due to increasing pet ownership. For instance, according to the American Pet Products Association's 2017-2018 National Pet Owners Survey, around 89.7 million pets are owned in the U.S. According to the same source, around 63.4 million households own pet dogs and around 42.7 million households own pet cats. • The global companion animal vaccines market value is estimated to be valued at US$ 2,847.7 Mn in 2020 and is expected to increase to US$ 4,437.0 Mn by 2027, witnessing a CAGR of 6.5% during the forecast period.

  5. Figure 1. Global Companion Animal Vaccine Market Value (%) by 2020

  6. Various manufacturers are focusing on mergers and acquisitions, in order to increase their product portfolio and geographical presence in the global companion animal vaccines market. For instance, in 2017, Boehringer Ingelheim acquired Merial, animal health business division of Sanofi. The acquisition helped Boehringer Ingelheim to strengthen its position in the animal healthcare sector. • The rising number of grants for the launch of various anti-cancer therapies for veterinary cancer treatment is expected to be a major factor driving growth of the global companion animal vaccines market during the forecast period. For instance, in 2017, Animal Cancer Foundation (ACF) received a grant of US$ 1 million from the Blue Buffalo Foundation to support an oncology research which would study similarities between naturally occurring cancers in people and pets, and find effective treatment in both species.

  7. The global companion animal vaccines market is expected to witness considerable growth owing to increasing epidemiology of diseases such as melanoma and carcinoma. For instance, According to the study by Cancer News, 2016, grey horses over 15 years of age are more prone to develop melanoma, with an estimated prevalence of 80%. The study also states that squamous cell carcinoma is the second-most common cancer in horses, accounting for 20% of all diagnosed cancer. Moreover, incidence of ovarian cancer is 2.5% to 6% of all equine cancers.

  8. Furthermore increasing pet ownership during the forecast period is also expected to drive the market growth .For instance, according to the American Pet Products Association's 2017-2018 National Pet Owners Survey, there are approximately 89.7 million pets owned in the U.S. According to the same source, around 63.4 million households own pet dogs and around 42.7 million households own pet cats.

  9. GlobalCompanion Animal Vaccine Market – Impact of Coronavirus (COVID-19) Pandemic • Supply chain and manufacturing activities in India, Italy, Spain, U.K. and the U.S. have been disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of vaccines. Vaccination is a major requirement to protect companion animals from bacterial or viral infections, which might be delayed due to pandemic. • For instance, CZ Vaccines, a leading biotechnological company and animal vaccine manufacturing, headquartered in Spain, experienced a slow-down in supply chain and manufacturing activities due to COVID19 lockdown

  10. However, some players in the global companion animal vaccines market reported that their manufacturing and supply processes were operational despite the pandemic. For instance, Elanco Animal Health reported that its manufacturing network remained fully operational. The company is taking extra precautions to protect its team and ensure continuity of supply.

  11. Figure 2. Global Companion Animal Vaccine Market Share (US$ Mn), by Region, 2020

  12. Launch of vaccines for pet animals is a major factor that is driving growth of the North America companion animal vaccines market. For instance, in February 2018, Boehringer Ingelheim and Merial launched the oral vaccine against canine infectious tracheobronchitis caused by Bordetella bronchiseptica in the U.S. • In Europe, manufacturers are focused on development of vaccines for companion animals which is expected to favor growth of the market in this region. Manufacturers are adopting inorganic growth strategies such as acquisitions to increase their presence in the global market. For instance, in 2016, Ceva Sante Animale (Ceva) acquired Hertape Saude Animale Ltd. and Inova Biotecnologia Saude Animale Ltd., the acquisition helpded the company to expand research and development of vaccines and enter the companion animal vaccines market.

  13. Key Players • Major players operating in the global companion animal vaccine market are Elanco Animal Health Incorporated, Boehringer Ingelheim GmbH, Ceva, Merck & Co., Inc., Virbac, Zoetis Inc, HIPRA, Biogénesis Bagó, and Ourofino Animal Health.

  14. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now Reference: https://www.coherentmarketinsights.com/market-insight/companion-animal-vaccines-market-3387

  15. AboutUs Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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