The German veterinary vaccines market is poised for significant growth, projected to achieve a compound annual growth rate (CAGR) of 5.0% from 2024 to 2034. As part of the global veterinary vaccines market, which is estimated to reach USD 9,433.9 million in 2024, the sector is expected to witness substantial advancements and innovations in vaccine development and distribution.
According to recent market analysis, the global veterinary vaccines industry is forecasted to grow at a CAGR of 5.2% during the same period, with revenue anticipated to soar to USD 15,632.4 million by 2034. This growth is driven by an increasing awareness of animal health, rising pet ownership, and advancements in vaccine technology.
The German market’s growth can be attributed to several factors, including:
- Rising Demand for Animal Health Products: A growing awareness of zoonotic diseases and the importance of animal health in public health initiatives is driving demand for effective vaccines in both companion and livestock animals.
- Innovations in Vaccine Technology: Advances in biotechnology and research are leading to the development of more effective and safe vaccines, fostering a more robust veterinary healthcare landscape.
- Supportive Regulatory Environment: Germany’s regulatory framework supports innovation while ensuring the safety and efficacy of veterinary vaccines, encouraging investment and development in the sector.
- Increased Investment in Veterinary Healthcare: The rise in disposable incomes and spending on pets has led to increased investment in veterinary healthcare services, including vaccinations.
As the market evolves, stakeholders, including pharmaceutical companies, veterinarians, and animal health organizations, are encouraged to align their strategies with the growing demand for veterinary vaccines. The focus on preventive healthcare through vaccination not only enhances animal welfare but also safeguards public health by controlling zoonotic diseases.
Key Takeaways:
- The global veterinary vaccines market is projected to grow from USD 9,433.9 million in 2024 to USD 15,632.4 million by 2034, at a CAGR of 5.2%.
Regional Growth:
- The USA is expected to experience the fastest growth, with a CAGR of 6.1% during the forecast period (2024-2034).
- China and India are also anticipated to witness significant growth, with CAGRs of 7.9% and 7.5%, respectively.
- Other key regions, including Germany, the UK, and Japan, are projected to grow at CAGRs ranging from 4.5% to 5.7%.
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Competitive Landscape of the Veterinary Vaccines Industry:
The veterinary vaccines industry is characterized by a consolidation of leading manufacturers. Key players in the livestock vaccination sector are increasingly prioritizing product development, focusing on obtaining regulatory approvals and launching innovative new products.
These new vaccine introductions, following the necessary regulatory approvals, not only tackle emerging disease threats but also cater to the rising demand for advanced veterinary solutions, thereby enhancing the market presence of these companies.
Recent Developments in the Veterinary Vaccines Market
- In May 2024, MSD Animal Health, a division of Merck & Co., Inc. (Rahway, N.J., USA), announced that the European Commission granted marketing authorization for the INNOVAX®-ND-H5 vaccine for chickens.
- In July 2020, Elanco Animal Health launched the first oral flea and tick treatment for cats, Credelio® CAT (lotilaner).
- In June 2024, during the World Buiatrics Congress in Mexico, HIPRA introduced the new DIVENCE® range, featuring advanced vaccines aimed at significantly improving the prevention of major viral diseases in cattle.
Key Players of the Veterinary Vaccines Industry:
- Bioveta, Inc.
- Merck & Co., Inc. (MSD Animal Health)
- Zoetis Services LLC.
- Elanco (Eli Lilly)
- Ceva
- Boehringer Ingelheim International GmbH
- Kemin Industries, Inc.
- HESTER BIOSCIENCES LIMITED
- Phibro Animal Health Corporation
- Virbac
- LETI Pharma
- Ourofino
- HIPRA
Veterinary Vaccines Market Segmentation:
By Technology:
In terms of technology, the industry is segregated into attenuated live vaccines technology, inactivated vaccines technology, subunit vaccines technology, toxoid vaccines technology, and DNA vaccines technology
By Animal:
In terms of animal, the industry is segregated into companion animals (canine, avian, and feline), livestock animals [ruminants, camels, sheep, goats, poultry (breeders, broilers, and layers), equine, bovine, porcine], and aquaculture.
By Disease Indication:
In terms of disease indication, the industry is segregated into Foot & Mouth Disease (FMD), Newcastle Disease, Porcine Reproductive & Respiratory Syndrome (PRRS), Canine Parvovirus, Brucellosis, Avian Influenza, and others
By Distribution Channel:
In terms of distribution channel, the industry is segmented into veterinary hospital pharmacies, veterinary clinics, retail pharmacies, and online pharmacies.
By Region:
Key countries of North America, Latin America, East Asia, South Asia & Pacific, Western Europe, Eastern Europe, Central Asia, Russia & Belarus, Balkan & Baltic Countries, and Middle East & Africa have been covered in the report.
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