Veterinary
Vaccine Market by Technology (Inactivated Vaccines, Toxoid Vaccines, Live
Attenuated Vaccines, and Subunit and DNA Vaccines), by Animal Type (Companion
(Equine, Canine, and Feline) and Livestock (Bovine, Ovine, Porcine, Poultry,
and Others)), and by Region (North America, Latin America, Europe, Asia
Pacific, Middle East, and Africa) was valued at US$ 6,766.5 million in 2018, and is expected to
exhibit a CAGR of 6.2% over the forecast period (2020-2027).
Various manufacturers such as
Zoetis, Inc., Regeneron Pharmaceuticals, Boehringer Ingelheim, and Merck are
focused on conducting research projects to understand the viral diseases, in
order to develop vaccination, for efficiently treating animals from various
diseases. For instance, Regeneron Pharmaceuticals, Inc. and Zoetis, Inc. in
June 2018, entered into a five-year collaboration to research and develop new
veterinary treatments by using Regeneron's monoclonal antibody therapeutics in
animals
Moreover, In January 2017,
Boehringer Ingelheim and Merial officially merged, and have been going through
integration since. With the inauguration of the new integrated R&D Center,
the teams from both companies have now joined their forces in the R&D
Center, which will leverage the broad R&D expertise to create powerful
collaboration in veterinary R&D capabilities.
Furthermore, Boehringer
Ingelheim, in May 2018 inaugurated its new integrated Asian Veterinary Research
& Development Centre in China to enhance its research and innovation
capacity.
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Moreover, Aratana Therapeutics,
Inc., AT-O14 Vaccine is under clinical trials for canine osteosarcoma, and
similar vaccines in pipeline are expected to drive growth of the veterinary
vaccine market over the forecast period.
Manufacturers are focused on adopting
inorganic growth strategies such as acquisition to strengthen their market
position is expected to drive growth of the market over the forecast period.
For instance, in 2017, Merck Animal Health acquired Prondil S.A. Dedicated to
the development of products for animal health care, particularly vaccines to
local and international markets. This acquisition helped Merck to add
comprehensive portfolio of vaccines for livestock into their existing product
portfolio.
In addition, in 2017, Elanco, a
subsidiary of Eli Lilly and Company, acquired Boehringer Ingelheim Vetmedica,
Inc.’s feline, canine, and rabies vaccines portfolio. This acquisition helped
Elanco to expand its companion animal portfolio by adding vaccines for
bordetella, Lyme disease, feline leukemia, rabies, and parvovirus.
Browse 25 Market Data Tables and
33 Figures spread through 220 Pages and in-depth TOC on "Veterinary
Vaccine Market, by Technology (Inactivated Vaccines, Toxoid Vaccines, Live
Attenuated Vaccines, and Subunit and DNA Vaccines), by Animal Type (Companion
(Equine, Canine, and Feline) and Livestock (Bovine, Ovine, Porcine, Poultry,
and Others)), and by Region (North America, Latin America, Europe, Asia
Pacific, Middle East, and Africa) - Global Forecast to 2027"
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https://www.coherentmarketinsights.com/market-insight/veterinary-vaccines-market-125
Rising number of research grants
to launch various anti-cancer therapies for veterinary cancer treatment is
expected to be a major factor that is expected to drive growth of the global
veterinary vaccine market over the forecast period. For instance, in 2017,
Animal Cancer Foundation (ACF) received US$ 1 million grant from the Blue
Buffalo Foundation to support comparative oncology research to study
similarities between naturally occurring cancers in people and pets, and find
effective treatment for both species. Moreover, in 2016, the Petco Foundation
and Blue Buffalo Foundation invested US$ 2.35 million to support pet cancer
research and treatment, as it represents a major cause of illness and premature
death in affected species, globally.
Key Takeaways of the Veterinary
Vaccine Market:
The global veterinary vaccine
market is expected to exhibit a CAGR of 6.2% over the forecast period
(2019-2027), owing to increasing number of R&D initiatives for veterinary
vaccine and acquisitions by key players.
Among technology, inactivated
vaccines segment is expected to account for a major revenue share by
Inactivated vaccines contains killed pathogens, which cannot replicate and
cause any disease.
Major players operating in the
global veterinary vaccine market include Aratana Therapeutics, Inc., Regeneus
Ltd., Morphogenesis, Inc., Karyopharm Therapeutics, Inc., Zoetis, Inc., Eli
Lilly and Company, Merck & Co., Inc. and Boehringer Ingelheim GmbH.
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