Report : North America Veterinary Vaccines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Vaccine Type (Livestock Vaccines [Bovine Vaccines and Small Ruminant Vaccines], Companion Animal Vaccines [Feline Vaccines, Canine Vaccines, and Others], and Others) and Technology (Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines, and Others)
Livestock Vaccines Segment to Dominate North America Veterinary Vaccines Market During 2021–2028
According to a new market research study on “North America Veterinary Vaccines Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Vaccine Type and Technology” is expected to reach US$ 5,884.41 million by 2028 from US$ 3,721.85 million in 2021. The market is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report provides trends prevailing in the North America veterinary vaccines market along with the drivers and restraints pertaining to the market growth. Growing incidences of zoonotic diseases and accelerating prevalence of foodborne diseases and infections are the major factor driving the growth of the North America veterinary vaccines market. However, stringent government rules related to usage of veterinary vaccines hinders the growth of North America veterinary vaccines market.
In case of COVID-19, North America, especially the US, is highly affected. The incidence of COVID-19 has been registered in the animals. Also, there has been an instance where companion animals are infected through their human counterparts. As per the CDC, animals have been infected with SARS-CoV-2, which has been documented in different locations worldwide. The majority of these animals are infected after coming in contact with COVID-19 infected owners, caretakers, and others in close contact with the animals. The infected animals include companion animals (including pet cats, dogs, ferrets), animals at zoos and sanctuaries (different types of big cats, otters, non-human primates, a binturong, a coatimundi, a fishing cat, and hyenas), and minks on mink farms. As a preventive measure, various organizations vaccinate the animals for COVID-19 infection. For instance, in October 2021, Cincinnati Zoo vaccinated about 80 animals against COVID-19 with two doses of a COVID-19 vaccine designed for veterinary use. The COVID-19 pandemic has considerably impacted animal health in the region. The regional players operating in the veterinary vaccines market are actively involved in the production and product innovations. Moreover, it positively impacts the veterinary vaccine market by offering potential business opportunities to the market players. Regional governments are offering support to enhance the animal health-related businesses in the region.
The North America 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 US, Canada, and Mexico.
BIOVAC; Boehringer Ingelheim International GmbH; Ceva; Elanco; HIPRA; Merck & Co., Inc.; NEOGEN Corporation; Virbac; and Zoetis Inc. are among the leading companies in the North America 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, Boehringer Ingelheim launched FreVAX smartphone app – the 2.0 version for management of its FreVAX intramuscular needle-free device.
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