Animal Vaccines Market Expected to Generate $15.20 Billion by 2030 at a CAGR of 5.2%: Allied Market Research

Rising Demand for Pet Insurance, Rising Expenditure on Animal Health, and Rising Pet Ownership Propel Global Animal Vaccines Market Growth

PORTLAND, Oregon., January 21, 2022 /PRNewswire/ — Allied Market Research has released a report titled, Animal Vaccines Market by type (attenuated vaccines, inactivated vaccines, subunit vaccines, toxoid vaccines, conjugate vaccines, recombinant vaccines and DNA vaccines) and type of animal (companion animal, farm animal and aquaculture): analysis of global opportunities and industry forecast, 2021-2030. “ According to the report, the global animal vaccine industry collected $9.09 billion in 2020, and should generate $15.20 billion by 2030, with a CAGR of 5.2% from 2021 to 2030.

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Drivers, constraints and opportunities

Rising demand for pet insurance, rising prevalence of animal diseases, rising expenditure on animal health, and increasing number of pet owners are propelling the growth of the market world of animal vaccines. However, highly competitive meat and milk prices and deadly effects of veterinary vaccines on human and animal health are restraining the market growth. On the contrary, advances in vaccine products and increasing demand for hybrid animals present new opportunities in the coming years.

Covid-19 scenario

  • The Covid-19 pandemic has had a negative impact on the animal vaccines market. Veterinary organizations have recommended restrictions on animal care and postponed surgery for animals with mild illnesses. However, surgical interventions and vaccination procedures of seriously ill animals were carried out.

  • Containment measures have led to the postponement of annual examinations and elective vaccination processes. However, the supply of animal vaccines has led to disruptions due to difficulties in the supply chain.

The attenuated vaccines segment will continue its leading position during the forecast period

Based on product, the attenuated vaccines segment accounted for the largest market share in 2020, contributing nearly two-fifths of the global animal vaccines market, and is expected to maintain its leading position by 2030. This is due to the presence of advanced technologies for specific mutations/deletions in the genes of the virus. However, DNA vaccines segment is expected to register the fastest CAGR of 8.1% during the forecast period, due to increasing prevalence of animal diseases and ease of handling compared to vaccines. traditional.

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The livestock segment will continue its revenue leadership by 2030

Based on animal type, the food producing animal segment held almost two-thirds of the global animal vaccines market in 2020 and is expected to maintain its leading status in terms of revenue by 2030. This is attributed to increasing prevalence of infectious diseases. livestock diseases and vaccination awareness. However, the companion animal segment is expected to show the highest CAGR of 5.5% during the forecast period, owing to increased awareness of companion animal diseases and conditions and increased spending on animal health worldwide.

North America maintain its highest contribution throughout the forecast period

Based on the region, North America contributed the highest market share in 2020, accounting for almost two-fifths of the total market share of the global animal vaccines market, and is expected to maintain its dominance throughout the forecast period. This is attributed to already established veterinary organizational structures and animal health concerns among people. However, Asia Pacific is expected to witness the highest CAGR of 5.9% during the forecast period, owing to the increase in the need to protect livestock from mass wipeouts with the outbreak of epidemics.

Main market players

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“We have also published some syndicated market studies in the same field that you may be interested in. Below is the title of the report for your reference, considering the impact of Covid-19 on this market which will help you to assess the aftereffects of the pandemic on the short and long term growth trends of this market.”

Reports on trends in the healthcare industry (book now with 10% discount):

Small Animal (in-vivo) Imaging Market – Global Opportunity Analysis and Industry Forecast, 2020-2030

Veterinary Diagnostics Market – Global Opportunity Analysis and Industry Forecast, 2020-2030

Veterinary Medicine Market – Global Opportunity Analysis and Industry Forecast, 2020-2030

Veterinary Pain Management Market – Global Opportunity Analysis and Industry Forecast, 2020-2030

Veterinary Surveillance Equipment Market – Global Opportunity Analysis and Industry Forecast, 2020-2030

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SOURCE Allied Market Research