Veterinary vaccines play an important role in protecting animal, as well as public health, reducing animal suffering, enabling efficient production of food animals, and reducing the need for antibiotics to treat food and companion animals. Major examples include rinderpest vaccines and rabies vaccines. Rabies vaccines have almost eliminated human rabies in developed countries. The veterinary vaccines market is expected to experience continued expansion in the coming years as more people begin to realize the value of vaccination against different diseases in animals. Recent developments in the area of veterinary vaccines are anticipated to result in a rapid increase in the number of products available on the market.
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Veterinary vaccines are used to prevent and treat animal diseases. The increasing prevalence of animal diseases (such as rabies, FMD, and bluetongue virus) and increase in spending on companion animals are expected to drive growth of the veterinary vaccines market. Moreover, key players operating in the market are developing new vaccines with better efficacy. For instance, in Europe, Ceva launched Cevac IBron, a new vaccine that protects against infectious bronchitis virus (IBV). Such key developments are expected to augment the market in the near future. Moreover, in November 2018, Merck Animal Health launched the first live vaccine, INNOVAX-ND-IBD, in the United States that protects chickens from three highly infectious diseases, such as Infectious Bursal Disease (IBD), Newcastle Disease (ND), and Marek’s Disease (MD).
The veterinary vaccines market has emerged as one of the profitable investment option seeking attention and investments from both government and non-government players. For instance, in June 2019, Biovet planned to invest US$ 2 billion to expand its FMD and Brucellosis vaccine manufacturing facilities in Karnataka. With India having the largest cattle population in the world, it requires over 1,000 million doses of FMD (foot and mouth disease) vaccine. Moreover, the increasing number of pet owners worldwide and their shifting focus towards healthy animal practices are other factors that are driving the market growth. Several other factors such as concerns over vaccine safety, advancement in diagnostic services and vaccine technology, and rapid proliferation of companion animal vaccines are expected to propel the market growth. Moreover, the advancement in vaccine products and rising production of veterinary vaccines for hybrid animals is expected to drive growth of the veterinary vaccines market.
Veterinary vaccines help improve the health and well-being of companion animals, increase the production of livestock, and prevent animal-to-human transmission from both domestic and wildlife animals.
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