Animal Vaccines Market Size will Grow Profitably By 2030

Posted on 2022-12-27 by researchinsights in Internet & Online // 0 Comments

Animal Vaccines Industry Overview

The global animal vaccines market size was valued at USD 11.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2022 to 2030. The increasing outbreaks of cattle disease and the ever-expanding livestock population are the prime factors for the wide acceptance of the ruminants especially cattle vaccines globally. Animals serve as a vital source of meat, protein, food, milk, and other commercial products such as wool and leather. Most used animal vaccines comprise rabies vaccines, equine influenza virus vaccines, and foot and mouth diseases vaccines, which prevent the transmission of infectious agents by mimicking the naturally acquired immunity.

Rising concerns over food security and increasing animal husbandry are boosting the demand for animal vaccines for the livestock population. Increasing demand for animal products has led to growth in livestock production globally. Furthermore, various factors such as variation in food preferences due to changing lifestyles and population growth are increasing the demand for livestock products. These factors are aiding in the growth of the market. Furthermore, the perpetual introduction of technologically advanced vaccines and the outbreak of livestock diseases have contributed to the shifting market dynamics.

Gather more insights about the market drivers, restrains and growth of the Global Animal Vaccines Market

The market saw moderate growth in 2020. The COVID-19 pandemic has impacted all industries, including animal vaccines. During the initial time of the pandemic, OIE has confirmed that no animals can spread this virus. However, human-to-animal transmission has been reported in a few countries. IDEXX Laboratories and other companies have tested many dogs and cats for the virus, with test results being negative. In the initial months of the pandemic, there was speculation that it may spread through birds, which negatively impacted the livestock industry. In the U.S., several pig and poultry processing plants shut down after the major outbreak. The poultry sector of India has already lost around USD 1 billion due to fears and concerns about the novel coronavirus.

In December 2020, a bird flu outbreak was reported in 9 Indian states. Due to this, the price of poultry products has gone down, severely affecting the overall livestock industry. According to the Poultry Federation of India, chicken consumption has reduced to 50%, with a drop of 30% in the prices, as of December 2020. While most of the Asian countries have adopted vaccination policies, India has primarily resorted to the culling of birds. Punjab and Haryana state governments are close to legalizing vaccinations, which can positively impact the market growth.

The coronavirus spreads from animal to animal with contact or aerosol transmission, thus infecting other animals. Incidents such as COVID-19 infected farmed minks were reported in numerous nations such as the U.S. and Denmark during late 2020. Thereby, such incidents have triggered the need for the COVID-19 animal vaccine. As a result, the market players are getting involved to manufacture veterinary vaccines against COVID-19. For instance, Zoetis is in process of donating over 11,000 doses of its experimental COVID-19 vaccine to help protect the health and well-being of Zoo animals. On the other hand, in April 2021, Russia has registered the world’s first Covid-19 vaccine called Carnivac-Cov for animals. Thus, the growing cases of COVID-19 infections in domestic and wild animals will promote the acceptance of animal vaccines for safeguarding preventive animal health, thus soaring the industry growth.

In June 2021, the U.K. announced the establishment of a U.K. Animal Vaccine Manufacturing and Innovation Centre in Surrey, intending to accelerate the vaccine development for livestock and to control the spread of viral diseases including coronavirus. The U.K. government will contribute USD 24.79 million while the Bill & Melinda Gates Foundation will contribute USD 19.43 million to establish this center. Thereby, the research initiatives adopted by the market players, growing COVID-19 infection cases in animals, and government support will enable the significant expansion of the animal vaccines industry.

The increasing prevalence of zoonotic diseases can negatively impact human lives, which is likely to boost the demand for animal vaccines. Emerging and exotic animal diseases are a growing threat to human and animal health and jeopardize food security. The rise in the population of both humans and animals along with environmental degradation and globalized trade and travel improves opportunities for the transmission of pathogens within and between species. The resulting ailments pose massive challenges currently and in the future. In most of the world, improved demand for animal protein has resulted in increased commercial food animal production. Emerging zoonotic diseases of both companion and livestock animals are a major threat to public health. The world will inevitably continue to experience emerging disease outbreaks in the coming decades. Therefore, animal vaccines can play a crucial role in controlling emerging diseases.

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