Market Outlook:

The veterinary vaccines market size is poised to reach USD 9.39 billion by 2024, with a projected escalation to USD 14.12 billion by 2032, reflecting a compound annual growth rate (CAGR) of 6.1% during the forecast period (2025-2032). 

Both humans and animals maintain an essential relationship because of multiple key factors. The survival of all life depends on animals yet animals face numerous disease-causing risks from internal and external factors which include disease-causing agents. The preventive measure that works most effectively against animal diseases involves veterinary vaccine administration. The designed vaccine products work through immune response activation to build animal defense against different pathogens that could cause future infections. Veterinary medicines function essentially for protecting animal health through both disease control and epidemic prevention measures.

People today show enhanced concern about animal healthcare together with knowledge of the devastating effects which can result from neglect. A variety of positive factors within the global animal vaccines market drive substantial growth for animal immunization. The market displays significant expansion primarily because animal adoption rates remain high worldwide and efficient vaccines keep increasing while pet owners spend more on their animal care. According to Forbes Media LLC. Americans spent USD 136.8 billion on their pets during 2022 according to 2023 statistics which demonstrated a 10.68% increase from the 2021 spending level of USD 123.6 billion.

The outbreak of COVID-19 affected market growth rate. The market experienced slower growth because patients limited their visits to veterinary clinics at pandemic peak times. The market participants invested in research and development to develop new vaccines while pursuing global regulatory acceptances. Market growth since its inception benefits from these factors which will sustain the steady expansion for the upcoming forecast period.

Market Dynamics:

Driver:

Cats along with dogs have experienced remarkable changes in their upbringing and development throughout multiple years. Households in North America alongside the Western part of the world maintain companion animals within their homes. Since India and China progressed as developing nations the number of companion animals has grown consistently during the recent years. The growing pet market will drive product and service requirements in pet care thus fueling the expansion of dependent industries including veterinary vaccines. The survey conducted by the American Pet Products Association for the National Pet Owners Survey (2023-2024) demonstrates that pets are kept by 66% of U.S. families who number 86.9 million households. The American Veterinary Medical Association reports that the number of households with pets keeps rising as evidence shows the increase from 31.3 million in 1996 to 59.8 million in 2024.

The Global State of Pet Care 2022 shows that pet ownership continues its worldwide growth because more than half the global population currently owns pets and there are over a billion pets worldwide. The U.S., Brazil, the EU, and China alone account for over half a billion dogs and cats. Pet ownership shows an upward trend globally including developing economies because people have updated social viewpoints and learned about how pets improve human wellness. The rising global pet population leads experts to forecast development within the animal health sector which in turn creates many dependent markets including veterinary vaccines.

Restraint:

A very heavy investment in research, development, and manufacture is required in the development and manufacturing of veterinary vaccines, especially on complicated diseases. These costs often create a high barrier in the development of vaccines for rare diseases or those emerging. High production costs may also restrict the affordability and availability of vaccines, most particularly in poorer regions or small farmers and pet owners. The outcome is frequently an enhanced lack of availability of critical vaccines that can make efforts to prevent the disease futile in such areas. Generally, the R&D cost varies widely for vaccine development because it is calculated that the whole cost could be between USD 200 million to USD 500 million. The entire process is involved from initial research to the market launch. In addition, Manufacturing facilities also demand a huge investment. The costs of setting up compliant facilities for manufacture range from USD 50 million to USD 500 million' for each antigen. Facility costs go as high as USD 700 million for multi-vaccine facilities. Source: National Center for Biotechnology Information.

Opportunity:

Companion animal ownership has grown significantly worldwide. It is most evidenced in developing markets of Asia and Latin America, where urbanization as well as increased disposable incomes have improved access to animal health and allowed pet owners higher spending on care. Large livestock markets exist in emerging countries, such as India and China. According to the report of Basic Animal Husbandry Statistics, 2024, the milk production estimate for India during 2023-24 is estimated to be 239.30 million tonnes. This has also risen by 5.62% in comparison with the previous decade and was 146.3 million tonnes in 2014-15. Along with the previous trend, there has been an increment in milk production of 3.78% in 2023-24 compared with the previous year.

On the contrary, China is the world's largest producer of meat: all in one year, in 2023, the total meat production was 97 million tons in China, with an increase of 4.5%. While meat consumption increased to 102 million tons, marking an increase of 4.1%. Emerging economies are going to be the focus areas for growth. Asia Pacific, Middle East, and Latin America are still relatively untapped markets for companies when compared to Europe and North America. Large poultry and dairy animal populations are present in emerging countries, and so an increase in the veterinary health market is expected.

Key Players:

• Zoetis(US)
• Merck & Co, Inc. (US)
• Boehringer Ingelheim International GmbH (Germany)
• Elanco (US)
• Virbac (France)
• Ceva (France)
• Phibro Animal Health Corporation (US)
• Hester Biosciences Limited (India)
• Neogen Corporation (US)
• HIPRA (Spain)
• Biogénesis Bagó (Argentina)
• Tianjin Ringpu Biotechnology Co., Ltd. (China)
• China Animal Husbandry Industry Co., LTD. (China)
• Jinyu Bio-technology Co., Ltd. (China)
• Vaxxinova International B.V. (Netherlands)

Recent Development:

• In November 2024, Ceva invested in New Vaccine Manufacturing Plant in Monor, Hungary. This new setup will install a 7,000 m2 plant in Monor that will be equipped with the most advanced technologies and, using fermentation-based multicomponent inactivated vaccines to treat animals, help broaden Ceva's production capacity globally.

• In November 2024, Boehringer Ingelheim International GmbH of Germany launched EURICAN L4 vaccine against the growing threat of leptospirosis in dogs, an infectious disease considered severe and reemerging.

• Merck & Co., Inc. announced in September 2024 expansion of its NOBIVAC NXT platform with the introduction of a revolutionary new vaccine for Feline Leukemia Virus or FeLV. It is the first and only vaccine to employ RNA-Particle Technology, representing a new approach to prevention of FeLV infection in cats. 

• In March 2024, Zoetis announced that it had purchased a manufacturing site in Melbourne, Australia to expand the company's existing operations at the site considerably and enhance future capacities to develop and manufacture vaccines for sheep, cattle, dogs, cats and horses.

Segment Insights:

By Type

During 2024, the livestock vaccines segment held the largest share of the veterinary vaccines market. As livestock animals are owned for the production of food, such as meat and dairy products. As global demand for animal derived food increases and livestock farming intensifies to meet the nutritional needs of an expanding population, there is a greater emphasis on maintaining animal health, preventing disease outbreaks, and improving overall productivity. The meat industry is growing significantly with increased production capacity and domestic and global demand for meat products. In 2023, the United States has taken the title of the world's largest beef producer, with more than 30% of its farms involved in beef production. With livestock farming becoming more industrialized and regulated, there will be greater needs for disease preventive vaccines.

By End-user

In 2024, by end-user segment was dominated by veterinary hospitals. Therefore, increasing ownership of companion animals, growing livestock animals population, and increasing demand for animal-derived food in emerging economies would further emphasize on animal health and vaccination. The animal care is greatly improved for the interiors of veterinary hospitals since they serve as the first source of care to diagnose and treat any health condition.

Most veterinary vaccine manufacturers prefer selling their vaccines directly to licensed veterinarians or proprietary distributors who only sell to veterinarians rather than third-party pharmacies. Other contributory factors are the availability of many veterinary professionals in veterinary hospitals, increasing veterinary visits, and increasing awareness about animal health in developing emerging countries.

Besides this, enhanced pet care expenses are another reason contributing to the high vaccination rate for pets in hospitals. The above trend is usually seen in developed regions such as the US, Germany, and the UK. Pet owners residing in these areas are ready to spend money for their pet's routine check-up and treatment. For instance, the American Pet Products Association claims that the U.S. market spent USD 147 billion on pets in 2023, of which USD 64.4 billion was spent on food and treats. Vet care and product sales amount to around USD 38.3 billion while other services, such as grooming, amount to USD 12.3 billion.

Regional Insights:

Among all regions across the world, the Asia Pacific is the fastest-growing in the veterinary vaccines market. A key driver behind this increase is pet ownership in countries like China, India, through which pet owners increasingly demand veterinary care services, including vaccinations. Animal health, for both pets and production animals, contributes to ever-increasing demand for preventive healthcare-vaccinations. Some other causes of demand for veterinary services and products include increasing economic growth and rising disposable income in the region. For example, consumption of different kinds of meat products, such as beef, pork, poultry, and mutton, is significantly higher in China than in any other APAC country. According to the Food and Agriculture Organization, total pork consumption in China was 40,698.6 metric tons in 2000; this figure is estimated to increase to 62,748.6 metric tons by 2030. The growth in pork & beef consumption and exports is going to fuel the use of animal healthcare products by livestock producers and thus contribute directly to market growth.

Segmentation:

By Type

• Porcine
• Poultry
• Livestock
• Companion Animals

By Technology

• Live Attenuated
• Inactivated
• Toxoid

By Route of Administration

• Intramuscular
• Subcutaneous
• Oral

By End-user

• Hospitals
• Clinics

By Region

North America

• USA

• Canada

• Mexico

Europe

• France

• UK

• Spain

• Germany

• Italy

• Rest of Europe

Asia Pacific

• China

• Japan

• India

• South Korea

• Rest of Asia Pacific

Middle East & Africa

• GCC

• South Africa

• Rest of the Middle East & Africa

South America

• Brazil

• Argentina

• Rest of South America

What to Expect from Industry Profile?

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the Veterinary Vaccines market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global Veterinary Vaccines market.

3. Leading company profiles reveal details of key Veterinary Vaccines market players’ global operations, strategies, financial performance & recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global Veterinary Vaccines market with forecast for the decade by both market share (%) & revenue (USD Million).

FAQ’s

1) What are the major factors driving the growth of the Global Veterinary Vaccines Market?

• Increased Awareness and Innovation in New Inoculation Products to Propel the Market Growth.

2) What would be the CAGR of the Global Veterinary Vaccines Market over the forecast period?

• The Global Veterinary Vaccines Market is poised to grow at a CAGR of 6.1% from 2025 to 2032.

3) Which region will provide more business opportunities for the growth of the Global Veterinary Vaccines Market in the future?

• The Asia Pacific region is expected to create more opportunities in the market.

4) Who are the major players dominating the Global Veterinary Vaccines Market?

• Zoetis(US), Merck & Co, Inc. (US), Boehringer Ingelheim International GmbH (Germany), Elanco (US), Virbac (France), Ceva (France), Phibro Animal Health Corporation (US), Hester Biosciences Limited (India), Neogen Corporation (US), HIPRA (Spain), Biogénesis Bagó (Argentina), Tianjin Ringpu Biotechnology Co., Ltd. (China), China Animal Husbandry Industry Co., LTD. (China), Jinyu Bio-technology Co., Ltd. (China), Vaxxinova International B.V. (Netherlands), Others.

5) What are the segments in the Global Veterinary Vaccines Market?

• By Route of Administration, By Technology, By Type, By End-user are the industry key segments considered for research study.

6) What is the estimated market revenue for the Global Veterinary Vaccines Market in 2032?

• The estimated revenue for the Global Veterinary Vaccines Market in 2031 is USD 14.12 million.