Companion Animal Vaccine Market to Surpass US$ 4,437.0 Million By 2027 at a 6.5% CAGR | Improving Overall Productivity and Generated Opportunities
Pet vaccines are classified into two categories: Core and Noncore vaccines. A Core vaccine, like Rabies, is a very effective shot that is used to immunize all dogs. For puppies and kittens, rabies is included in the core series. The other two types of pet vaccines are designed to prevent a specific disease that affects dogs. There are just two vaccines, Distemper and Rabies, which are included in the core series. The most common pet vaccines for distemper, rabies, and parainfluenza are available at local veterinarian’s clinic or through a private veterinarian. Some of these vaccines were created after the development of distemper, the most common viral disease affecting dogs.
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Major players operating in the global companion animal vaccines market include Ourofino Animal Health, Biogénesis Bagó, HIPRA, Zoetis Inc., Virbac, Merck & Co., Inc., Ceva, Boehringer Ingelheim GmbH, and Elanco Animal Health Incorporated.
Key Market Drivers:
The increasing number of companion animals in the world is the main factor that is expected to enhance the growth of the global companion animal vaccines market. For instance, according to People’s Dispensary for Sick Animals, 26% of the UK adults had a pet dog in 2020 and an expected population of around 9.6 million pet dogs in the region. Around 24% of the UK adults own cats with an expected population of 10.7 million pet cats in the UK, and around 2% of the people own rabbits and the estimated population of rabbits in the region is around 900,000. Moreover, increasing investments in the animal healthcare sector in the world are projected to create traction in the global companion animal vaccines market.
Covid-19 Impact Analysis:
With the rising cases during COVID-19, several sectors were shutting down and growth has also diminished. For instance, according to American Veterinary Medical Association, the impact of the COVID-19 pandemic on the veterinary sector has been varied, far-reaching, and sudden. Across U.S., practices related to veterinary procedures have made significant changes to ensure that animals continue to receive emergency and essential healthcare, and also new safety measures are being implemented to protect clients as well as the team members. This affected the growth of the global companion animal vaccines market.
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The size of the global companion animal vaccine market was estimated at around US$ 2768 million in the year 2020 and is projected to experience a revenue of around US$ 3851 million in 2026, with an approximate CAGR of 5.6% over the market forecast period, owing to the increase of mental health issues such as depression and loneliness, which is resulting in high inclination towards companion animals. For instance, according to the Centers for Disease Control and Prevention, around 33% of adults witness the feeling of loneliness in the world.
North America is expected to hold a major share of the global companion animal vaccine market, owing to the increasing adoption of pets, along with the increasing prevalence of diseases and the availability of the veterinary healthcare sector. For instance, according to the 2019-2020 National Pet Owners Survey that has been conducted by the American Pet Products Association (APPA), approximately 85 million homeowners or around 67% of US families owned a pet. APPA also stated that during 20192020, approximately 63.4 million homeowners had pet dogs. Moreover, the presence of key market players in the region is expected to boost the growth of the market.
Asia-Pacific region is estimated to witness high growth in the global companion animal vaccine market, owing to the increasing prevalence of pet adoption in the region. For instance, according to People for the Ethical Treatment of Animals, in 2019, the population of pet dogs in the region amounted to around 21.42 in 2019 and is projected to reach more than 31 million by the end of 2023. Moreover, increasing spending on pet care is expected to fuel the growth of the market.
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Reasons to Purchase this Report
• Current and future of global Companion Animal Vaccines market outlook in the developed and emerging markets
• The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period.
• Regions/countries that are expected to witness the fastest growth rates during the forecast period
• The latest developments, market shares, and strategies that are employed by the major market players
Table Of Content
Chapter No. 1 Introduction
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. USP & Key Offerings
1.2. Key Benefits for Stakehulders
1.3. Target Audience
1.4. Report Scope
Chapter No. 2 Executive Summary
2.1. Key Findings
2.1.1. Top Investment Pockets
184.108.40.206. Market Attractiveness Analysis, By Type
220.127.116.11. Market Attractiveness Analysis, By End Use
18.104.22.168. Market Attractiveness Analysis, By Region
2.2. Market Snapshot
2.3. Global Companion Animal Vaccines Market, 2016 – 2021 (USD Million)
2.4. Insights from Primary Respondents
Chapter No. 3 COVID 19 Impact Analysis
3.1. Impact Assessment of COVID-19 Pandemic, By Region
3.1.1. North America
3.1.3. Asia Pacific
3.1.4. Latin America
3.1.5. The Middle-East and Africa
Key Questions Answered in This Report on Companion Animal Vaccines Market
• How much revenue will the global Companion Animal Vaccines Market generate by the end of the forecast period?
• What regions currently contribute the maximum share to the overall Companion Animal Vaccines Market?
• What are the indicators expected to drive the global Companion Animal Vaccines Market?
• Which region is likely to be a lucrative market during the forecast period?
• What are the essential strategies incorporated by key stakeholders in the global Companion Animal Vaccines Market to expand their geographical presence?
• What are the major advancements witnessed in the global Companion Animal Vaccines Market?
• This report answers these questions and more about the global Companion Animal Vaccines Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.
Customization of the Report
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• Competitive companies and manufacturers in global market
• By Product Type, Applications & Growth Factors
• Industry Status and Outlook for Major Applications / End Users / Usage Area
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