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Global Companion Animal Vaccine Market to Grow at a CAGR of 6.2% During the Period 2022-2027, Driven by Increasing Pet Ownership

According to a new report by EMR titled, ‘Global Companion Animal Vaccine Market Report and Forecast 2022-2027’, the global companion animal vaccine market is expected to grow at a CAGR of 6.2% during the period 2022-2027, led by innovations in vaccines.

The global companion animal vaccine market is expected to be driven by the growing rate of adoption of companion animals, including rabbits, dogs, cats, etc. Growth in the companion animal vaccines sector is propelled by economic development, associated increase in disposable income, and rise in pet ownership and expenditure on pet care. In recent years, some European countries have witnessed a significant increase in pet adoption. Pets or companion animals offer humans much needed interaction that offers social, medical, emotional and physical benefits. North America, Europe and Asia are expected to be key markets.

Continual research, innovations and development of safe, effective and quality vaccines have enhanced protection for pets and farm animals. These developments are expected to stimulate the global companion animal vaccine market. For example, in 2020, Boehringer Ingelheim announced the upcoming release of its Purevax® vaccine range for cats in 0.5 ml presentation. Due to the small volume, the new presentation of Purevax® would make cat vaccination more convenient, enabling a gentler immunization experience for feline patients. The Purevax® range sough to protect cats from contracting important infectious feline diseases including feline herpesvirus (FHV) and feline calicivirus (FCV), feline panleukopenia virus (FPV), chlamydia felis, feline leukemia virus (FeLV), and rabies.

In 2020, Boehringer Ingelheim introduced DiaTEC, a novel, proprietary purification technology for Ingelvac CircoFLEX®; Ingelvac CircoFLEX® was the first PCV2 vaccine capable of being freshly mixed with an M hyo vaccine to address two critical swine pathogens in one injection. With DiaTEC, Ingelvac CircoFLEX® became the first and only non-virucidal PCV2 vaccine for improved capabilities to be freshly mixed on farm. Since its launch, Ingelvac CircoFLEX® had been employed to protect 3 billion pigs in over 68 countries across the globe, based on vaccine sales. In 2021, Boehringer Ingelheim announced a multi-year partnership with PetMedix to develop novel and transformative companion animal antibody therapeutics using PetMedix’s proprietary Ky9™ platform.

In 2021, Merck Animal Health announced its intent to acquire the assets of LIC Automation Ltd. (“LICA”). LICA was a leader in automation and technology for the dairy industry. The move would complement Broad Merck Animal Health portfolio of medicines, vaccines and technology solutions.

In 2020, Merck Animal Health completed the acquisition of U.S. Rights to SENTINEL® brand of combination parasiticides for companion animals. The move would solidify Merck Animal Health’s position in the U.S. companion animal category with comprehensive and continuous parasite protection, and complements the company’s broad portfolio of vaccines and pharmaceuticals.

Key Findings of the Report:

  • Rising pet ownership, increasing disposable income, and continual research and innovations in vaccines are expected to drive the market. 
  • Regulatory requirements and the vital role of vaccines in preventative health and disease control in animals are likely to stimulate the market. 
  • North America, Europe and Asia are projected to be key markets. 

Market Analysis by Technology, Animal Type, Disease, Distribution Channel and Region:

  • By vaccines, the market is segmented into Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Subunit Vaccine, Conjugate Vaccine, DNA Vaccine, and Others. 
  • By animal type, the market is divided into Feline, Canine, Bovine, and Others.
  • By disease, the market is classified into Rabies, Hepatitis, Leukemia, and Others.
  • By distribution channel, the market is segmented into Veterinary Clinics, Veterinary Hospitals, Veterinary Research Institutes, Retail Pharmacies, and Others.
  • By region, the market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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