Major players in the veterinary vaccines market are Boehringer Ingelheim GmbH, Merck Animal Health, Zoetis Inc. , Eli Lilly and Company, and Bayer AG (Bayer Animal Health). The global veterinary vaccines market is expected to grow from $7 billion in 2020 to $7.
New York, May 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Veterinary Vaccines Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067877/?utm_source=GNW
73 billion in 2021 at a compound annual growth rate (CAGR) of 10.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.18 billion in 2025 at a CAGR of 7.1%.
The veterinary vaccines market consists of sales of vaccines and related services which are used for the treatment and prevention of diseases in animals.These veterinary vaccines reduce animal suffering and transmission of microorganisms in the animal population.
Veterinary vaccines are used to enhance the immunity power of animals by improving the animal health, which also prevents transmission of diseases from animals to humans. Veterinary vaccines industry includes entities that produce veterinary vaccines like livestock vaccines and companion animal vaccines.
Companies in the veterinary vaccines market are increasingly looking for strategic partnerships and collaborations to enter into new geographies and to share the Research & Development projects.For example, in 2020, the Pirbright Institute, a UK based animal disease research institute, partnered with ECO Animal Health, a UK based Pharmaceutical company, and the Vaccine Group (TVG) to develop porcine respiratory and reproductive syndrome virus (PRRSV) vaccines.
The vaccine group is a biotechnology company that develops animal vaccines and is based in Plymouth, UK Similarly, MSD Animal Health, a division of Merck & Co with headquarters in the US, made a strategic partnership with Vinovo.This partnership will help MSD Animal Health to combine its unique broad vaccine product line and Vinovo’s vaccine delivery system to vaccination process, thus improving bird welfare, and reducing vaccine reactions.
Also,Wageningen bio veterinary research made a strategic alliance Ceva with headquarters in Switzerland, to improve their Research on the global threat of emerging and reemerging diseases for animals.
High storage costs are acting as a major restraint for the growth of the veterinary vaccine market.Improper storage conditions and delay in the shipping can cause vaccines to lose their desired immune properties.
For example, during transportation, vaccines can undergo biodegradation, if they are not transported within the required temperature limits.Thus, special care is required for the transportation of the vaccines in order to maintain the efficiency of the vaccines, which increases the storage and transportation cost for the vaccines.
According to report published by National Institute of Standards and Technology (NIST), approximately 35% of vaccines lost their potencies during the shipment, as they were stored at abnormal temperatures. Thus, high storage costs for vaccines are expected to result in additional costs for manufacturing companies and limit the growth of the market.
The veterinary vaccines market is regulated by authorities such as European Medical Agency and the US Center for Veterinary Biologics.For instance, veterinary vaccine companies in Europe are required to adhere to European technical requirements mentioned in Annex 1, Title II, to Directive 2001/82/EC, as amended by Directive 2009/9/EC, and the European Pharmacopoeia (Ph.
Eur.). According to these regulations, veterinary vaccines are required to undergo safety test before getting the approval, where vaccines are classified into activated vaccines and inactivated Vaccines. In activated vaccines, each batch of vaccines should have a dose that is double the standard dose. In inactivated vaccines, each batch of vaccines should be ten times the standard dose for the active vaccines. Activated vaccines are usually tested by in vitro titration, while serological tests are commonly used for inactivated vaccines.
The increase in the number of animals suffering from range of diseases is increasing the demand for vaccines to prevent and treat such diseases, thus driving the veterinary vaccines market According to the estimates from report by Animal and Plant Health Agency, a total of 3289 number of new TB herd incidents were detected in England Bovine tuberculosis is a chronic disease that usually affects animals such as cattle, but it can affect all mammals causing a general state of illness, coughing and eventually lead to death.However, the disease can be treated with specific antibiotics that kills the TB bacteria.
This rising prevalence of diseases in animals is expected to drive the veterinary vaccines market during the forecast period.
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