Live Attenuated Vaccines Segment to Dominate Europe Veterinary Vaccines Market During 2021–2028

According to a new market research study on “Europe Veterinary Vaccines Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Vaccine Type and Technology” is expected to reach US$ 4,377.33 million by 2028 from US$ 2,908.92 million in 2021. The market is estimated to grow at a CAGR of 6.0% from 2021 to 2028. The report provides trends prevailing in the Europe veterinary vaccines market along with the drivers and restraints pertaining to the market growth. Rising incidences of zoonotic diseases and increasing prevalence of foodborne diseases and infections are the major factor driving the growth of the Europe veterinary vaccines market. However, strict government rules related to usage of veterinary vaccines hinders the growth of Europe veterinary vaccines market.

In case of COVID-19, Europe is highly affected specially the UK. The infection curve has been fluctuating and going from bad to worse. It hits a plateau for quite some time and then again shows fluctuations, with infection levels going up and down. This is irrespective of the fact that the countries that make up Europe vary significantly in size, population, available natural resources, economy as well as political stability. The countries in Europe are highly affected due to the COVID-19 pandemic. To control the outbreak of virus various restrictions were imposed by the government. This led to disruption, limitation, challenges, and changes in each sector of every industry. Likewise, animal vaccines industry was also impacted by the pandemic. For instance, veterinary organizations overseas have recommended limiting animal patient care to acutely ill animals and emergencies. Furthermore, the lockdowns have led to rescheduling of annual checkup exams and elective vaccination procedures.  However, various key players have ensured the supply of animal vaccines as the governmental institutions across the globe are taking strict measures to maintain the supply to avoid zoonotic viruses from spreading into communities. However, the overall impact of COVID-19 on the animal vaccines market remains fairly negative, owing to fall in demand as veterinary visits are limited, and animal healthcare approach is changed to providing care to emergency cases and critically ill animals.

The Europe veterinary vaccines market is segmented based on vaccine type, technology, and country. Based on vaccine type, the market is segmented into livestock vaccines, companion animal vaccines, and others. The livestock vaccines segment dominated the market in 2020 and companion animal vaccines segment is expected to be fastest growing during forecast period. The livestock vaccines segment is further bifurcated into bovine vaccines and small ruminant vaccines. Similarly, the companion animal vaccines segment is divided into feline vaccines, canine vaccines, and others. Based on technology, the market is segmented into live attenuated vaccines, inactivated vaccines, toxoid vaccines, recombinant vaccines, conjugate vaccines, and others. The live attenuated vaccines segment dominated the market in 2020 and toxoid vaccines segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the UK, Germany, France, Italy, Spain, and rest of Europe. 

BIOVAC; Boehringer Ingelheim International GmbH; Ceva; Elanco; Hester Biosciences Limited; HIPRA; Merck & Co., Inc.; NEOGEN Corporation; Virbac; and Zoetis Inc. are among the leading companies in the Europe veterinary vaccines market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Virbac entered into a collaborative agreement for the development of an animal health vaccine.          

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