The best method for preventing disease transmission is through animal vaccines, which also safeguard human health—a significant consideration given how heavily society depends on animals. Animal welfare is crucial to the economy because they are the primary source of meat, food, protein, milk, and several other industrial goods like wool and leather. The most widely used veterinary vaccinations include for rabies, equine influenza, and foot-and-mouth disease. These vaccines are known for limiting the spread of infectious diseases since they are comparable to naturally acquired immunity.
As a result of the rise in pet ownership in emerging nations and the rising number of cattle and poultry in these economies worldwide, the veterinary vaccines industry is anticipated to grow steadily in the following years. Additionally, the market for animal vaccines is expected to benefit from rising investments in research and development (R&D) of vaccinations that prevent the spread of antibiotic-resistant pathogens.
- Rising zoonotic disease prevalence
- Rising pet adoption rates and rising veterinary care costs
- Increasing meat consumption
A restraining factor is inadequate knowledge about veterinary vaccines causes a lot of havoc in the farming industry
The world's expanding middle classes have led to a sharp increase in the demand for meat eating. The requirement for vaccination before farm animals are killed for human consumption emphasizes the significance of veterinary vaccinations. This helps the meat stay fresher and last longer. Furthermore, it prevents animals from producing harmful bacteria, parasites, and viruses that can infect or even kill people. The International Veterinary Vaccines And Diagnostics Conference of 2006 predicted that the need for various animal vaccinations would soar in the following years.
The veterinary vaccines market is expected to reach USD 11.1 billion by 2030, growing at a 9.20% CAGR between 2022 and 2030.
The veterinary vaccinations market has been divided into type and technology.
Based on type, the veterinary vaccines market has been divided into vaccinations for companion animals, poultry, aquaculture, and livestock.
Based on technology, the global market for veterinary vaccinations has been divided into four technology: live attenuated vaccines, inactivated vaccines, recombinant vaccines, and toxoid vaccines.
Impact of Covid-19
An unprecedented global public health emergency, COVID-19, has influenced practically every industry, and its long-term repercussions are expected to impact industry growth throughout the forecast period. COVID-19 is to the 21st century what the Black Death and Bubonic Plague were to the 14th and 5th centuries—a true game-changer. In China, bats were the first source of human infection with COVID-19. It spread fast around the world. The fact that some of the victims of this virus died led governments to understand how dangerous and problematic it was. Most people who recovered either relapsed or experienced lasting health problems.
The veterinary vaccines industry suffered greatly as farmers and pet owners were encouraged to keep their animals at home. They were cautioned against bringing their animals to the doctor so they might receive potent and efficient immunizations like the veterinary vaccines made by Pfizer. Now that vaccination for COVID-19 is being widely used, the market for veterinary and animal vaccines is beginning to grow significantly. Animal vaccines are in high demand since they are necessary for the continued health of cattle on farms worldwide.