"Designing Growth Strategies is in our DNA"
The livestock vaccines market size was valued at USD 5.47 billion in 2022 and is projected to grow from USD 5.73 billion in 2023 to USD 8.53 billion by 2030, exhibiting a CAGR of 5.8% during 2023-2030. North America dominated the global market with a share of 46.80% in 2022.
Livestock vaccines play a crucial role in safeguarding the health and well-being of farm animals. These vaccines help prevent outbreaks and reduce the economic losses associated with livestock illnesses by providing immunization against various diseases, including foot and mouth diseases. The livestock vaccines are administered through various route of administration, such as intravascular, subcutaneous, spray, oral, and nasal. Furthermore, the veterinary vaccines for farm animals are of various types, such as live attenuated vaccine, inactivated vaccine, toxoid vaccine, and recombinant vaccine.
The rising prevalence of diseases related to farm animals will influence the global livestock vaccines market growth. Furthermore, the growing demand for advanced vaccines and the rising number of vaccines launched by the market players are expected to boost the market growth over 2023-2030.
COVID-19 Negatively Impacted Market Revenue Due to Lower Animal Volume in Clinics
The COVID-19 pandemic had a significant impact on the market, causing slower growth in the market in 2020. Lockdown restrictions and the widespread transmission of the virus led to a reduced demand for vaccines in the market. In the first half of 2020, the administration of these products was halted due to lockdown restrictions and disruptions in the supply chain created by the COVID-19 pandemic.
The decline in the number of animal visits to hospitals and clinics for vaccination and treatment played a role in this scenario of slower growth. However, the market managed to avoid negative growth due to several factors.
Despite the overall market slowdown, some major companies saw a slight increase in their sales for animal health products, including livestock vaccines, during the COVID-19 period. Furthermore, companies in the market continued to launch new vaccines during the COVID-19 pandemic, indicating potential growth in the global market in the coming years.
Overall, the market witnessed a slow but positive recovery, with a significant increase in vaccination programs and animal visits in 2020 and 2021. These developments played a crucial role in fully normalizing the market by 2022.
Technological Advancements Focused on Various Types of Vaccines
In recent years, some of the global livestock vaccines market trends include significant advancements in traditional vaccines, such as vector vaccines, recombinant vaccines, and irradiated vaccines. Vector vaccines have effectively prevented diseases, such as infectious bovine rhinotracheitis (IBR) in cattle, Newcastle disease in poultry, and porcine reproductive and respiratory syndrome (PRRS) in pigs. The ability of vector vaccines to offer more efficient disease control and prevention has driven their adoption as vital tools in livestock health management.
Furthermore, in 2020, Boehringer Ingelheim International GmbH received a marketing authorization in the U.S. for a second trivalent form, Vaxxitek HVT+IBD+ILT. In 2019, the company launched first trivalent form, Vaxxitek HVT+IBD+ND in the U.S. The second trivalent vaccine would protect against Marek's disease (M.D.), infectious bursal disease (IBD), and Infectious Laryngotracheitis (ILT). These are all highly infectious and commercially disruptive diseases that affect the poultry industry worldwide.
Moreover, there have been significant advancements in live attenuation based vaccines, specifically the modified live livestock vaccines. These vaccines offer distinct advantages over the other types, including long-lasting and rapid immunity, as well as the potential for broader and stronger immune responses to the presence of attenuated, live pathogens.
Request a Free sample to learn more about this report.
Increasing Cases of Zoonotic Diseases Coupled with Rising Awareness Associated with Livestock Healthcare to Propel Market Growth
The market for livestock vaccines is anticipated to experience significant growth over the forecast period. This is due to the increasing occurrence of zoonotic diseases and the growing awareness related to animal health. Zoonotic diseases, which can be transmitted from animals to humans, have become a major concern due to their potential to cause outbreaks and public health emergencies.
In addition, the rising awareness amongst livestock owners and farmers about the importance of healthcare for their animals is expected to contribute to the market growth. Moreover, governments are implementing supportive initiatives and regulations to control zoonotic diseases and promote vaccination in livestock populations. These factors are anticipated to boost the adoption of livestock vaccines.
Such awareness initiatives related to diseases create a favorable environment for increased vaccine demand in the foreseeable future. Hence, rising animal population and government initiatives to control the spread of zoonotic diseases are expected to propel the market growth during the forecast period.
R&D Initiatives by Major Market Players to Boost Industry Growth
The growing size of livestock vaccines industry can be attributed to the extensive research and development (R&D) initiatives by key market players. These companies are investing in R&D to develop vaccines that effectively cater the evolving demand from livestock owners and farmers by providing enhanced solutions for disease prevention and control.
Furthermore, major players are continuously expanding their vaccine portfolios by introducing new vaccines catering to various livestock species. They are also addressing the requirements of these products for the emerging diseases in livestock animals. This expansion allows them to meet the diverse needs of livestock owners and farmers, which is expected to contribute to the growth of the market during the forecast period.
Such increasing initiatives by market players focused on product development are expected to boost the market growth in the coming years.
Adverse Effects Assocaited with Vaccines Might Hamper the Market Growth
The rising prevalence of zoonotic diseases in livestock animals, including blastomycosis, rabies trichinosis, histoplasmosis, and coccidiomycosis, has led market players to develop innovative vaccines for disease prevention and treatment.
However, vaccine failures and adverse effects, can hamper the trust of animal owners to use the vaccination for their livestock animals. This may hamper the market growth during the forecast period.
Various articles and studies have demonstrated the adverse reactions of vaccination in livestock animals, such as cattle, poultry, and porcine. For instance, according to various articles, live-attenuated LSD vaccines may cause mild adverse reactions in cattle. Furthermore, according to an article published by NCBI in October 2021, the side effects caused by the Sheep Pox Virus (SPPV) vaccine in naïve cattle are more rarely detected than side effects caused by attenuated LSD vaccines. Such events of vaccine failures are expected to lead to a lower adoption of vaccines amongst the animal-owners during the forecast period.
Live Attenuated Segment Held the Largest Share in 2022 Due to Rising Disease Outbreak in Farm Animals
Based on type, the market is divided into inactivated, live attenuated, recombinant, and others.
The live attenuated segment captured the highest global livestock vaccines market share in 2022 and is estimated to record a moderate CAGR over 2023-2030. The large share of the segment is attributed to the growing outbreak of diseases in farm animals coupled with the high demand for this product, especially among developing countries. Furthermore, live attenuated vaccines exhibit more effectiveness in triggering cell-mediated immune responses, and can create a strong and long-lasting immune response among animals. This is achieved by the research and development of advanced live attenuated vaccines. Some of these R&D initiatives comprise the development of protein subunit vaccines for swine. These vaccines are administered intramuscularly. These factors are instrumental in the higher demand and preference toward this vaccine type.
The recombinant segment is anticipated to expand at the highest CAGR over the study period. This segmental growth is due to the increase in the introduction and development of advanced recombinant vaccines by industry players for the treatment of livestock population. For instance, in October 2020, the U.S. animal health business of Boehringer Ingelheim International GmbH introduced VAXXITEK HVT+IBD+ILT, a recombinant vaccine for the protection of poultry from three diseases.
To know how our report can help streamline your business, Speak to Analyst
Bovine Segment Accounted for Major Share in 2022 Due to Rising Vaccine Demand
In terms of animal type, the market is segregated into bovine, porcine/swine, poultry, and others.
In 2022, the bovine segment dominated the market share and it is projected to register a substantial CAGR during 2023-2030. The segment share is attributed to the growing number of bovines across the globe, which is expected to stimulate the demand for bovine vaccines, boosting the segmental growth during the forecast period.
The poultry segment is expected to grow at the highest CAGR over 2023-2030. The segmental growth is attributed to the rising population pool of diseased poultry coupled with growing adoption of poultry vaccines by healthcare facilities to prevent poultry linked disease outbreaks. These factors are expected to surge the segmental growth during the forecast period.
Parenteral Segment Held Major Share due to Various Benefits Associated with this Route of Administration
In terms of route of administration, the market is segregated into oral, parenteral, and others.
The parenteral segment accounted for the highest share in 2022. Reliable immune response induction, versatility, established practice, and rapid onset of immunity are some of the benefits associated with the parenteral route of administration, which are expected to boost the segment growth over the forecast period.
The oral segment is expected to grow at the substantial CAGR over 2023-2030. The segmental growth is due to the surging diverse R&D initiatives and increasing clinical trials with new and advanced vaccines. Furthermore, the rise in the introduction of vaccines through this route of administration is expected to boost the segmental growth during the forecast period.
The others segment include routes of administration such as intranasal, which is limited to a single dose of vaccine.
Veterinary Clinics Segment Recorded Major Share in 2022 Due to Growing Livestock Population Visits in Clinics
In terms of distribution channel, the market is segregated into veterinary clinics, veterinary hospitals, and others.
In 2022, the veterinary clinics segment dominated the market share and it is projected to register the highest CAGR during 2023-2030. The higher segment share is attributed to the growing adoption of livestock vaccines in clinics. Furthermore, the large number of animal visits in clinics for the treatment coupled with growing number of veterinarians is anticipated to boost the segmental growth during the forecast timeframe.
The increasing number of veterinarians is expected to boost the animal-visits in clinics, thereby propelling the segmental growth.
The veterinary hospitals segment is expected to grow at a notable CAGR over 2023-2030. The segmental growth is attributed to the growing preference for veterinary hospitals by animal owners when post-vaccination care is required. Furthermore, these hospitals offer advanced care infrastructure to avoid post-vaccination complications. These mentioned benefits are expected to propel the segmental growth during the forecast period.
North America Livestock Vaccines Market Size, 2022 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
The North America market accounted for USD 2.56 billion in 2022. The region is anticipated to dominate the global share owing to surge in the launches of vaccines by market players. The widespread adoption of advanced and modified vaccines products which is further expected to drive market growth in the region. Moreover, a large population of livestock animals and the increase in the number of animal-visit for vaccination program for prevention will foster the regional market.
Europe captured a substantial market share in 2022 and it is predicted to record a substantial CAGR during the forecast period, 2023-2030. The growth is attributed to the growing adoption of poultry and swine animals and the increasing prevalence of zoonotic diseases. The regional expansion is further propelled by the growing number of veterinary clinics and improved healthcare infrastructure in European countries.
The market across Asia Pacific is anticipated to exhibit the highest CAGR from 2023 to 2030. The high CAGR of the region can be attributed to the increasing vaccination program coupled with growing animal population across the region. Moreover, growing awareness about risks associated with zoonotic diseases and increasing spending on animal health care are anticipated to drive the growth of the market in the emerging countries such as China and India.
Latin America and Middle East & Africa accounted for a significant share of the market due to growing animal population suffering from various diseases. These include infectious bovine rhinotracheitis (IBR) in cattle, Newcastle disease in poultry, and porcine reproductive and respiratory syndrome (PRRS) in porcine. Additional factors impelling the industry expansion in these regions constituted rising healthcare investments and increasing launches of technologically advanced vaccines by regional market players.
Market Players Focus on Diversified Portfolio to Strengthen Market Hold
Zoetis Services LLC, Merck Animal Health (Merck & Co., Inc.), and Boehringer Ingelheim International GmbH are some of the leading players in the market. The dominance of these players is attributable to strong direct and indirect presence worldwide with diversified and high quality and advanced vaccine portfolio. These market players are focusing on mergers, acquisitions, new subsidiaries, and the introduction of new vaccines to penetrate new markets.
Other companies operating in the global market include Phibro Animal Health Corporation, Vaxxinova International BV, Virbac, and other small and medium-sized players. These industry participants are centered on various strategic developments such as strengthening of distribution channel and enhancing the customer base by introducing new vaccines. Furthermore, the growing focus of these companies to introduce and develop innovative vaccines in emerging markets is expected to boost their share in the market.
An Infographic Representation of Livestock Vaccines Market
To get information on various segments, share your queries with us
The global market report provides a detailed competitive landscape. It focuses on industry overview, such as vaccination program, veterinary vaccination rates, and market dynamics. Besides this, the report provides information related to market segments, key industry developments such as mergers and acquisitions and technological advancements in the market. In addition, the impact of COVID-19 and the industry overview during the pandemic are covered in the report.
ATTRIBUTE | DETAILS |
Study Period | 2019-2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023-2030 |
Historical Period | 2019-2021 |
Growth Rate | CAGR of 5.8% from 2023-2030 |
Unit | Value (USD billion) |
Segmentation | By Type, Animal Type, By Route of Administration, Distribution Channel, and Region |
By Type |
|
By Animal Type
|
|
By Route of Administration |
|
By Distribution Channel |
|
By Geography
|
|
Fortune Business Insights says that the global market stood at USD 5.47 billion in 2022 and is projected to reach USD 8.53 billion by 2030.
In 2022, the North America market stood at USD 2.56 billion.
The market is expected to exhibit a CAGR of 5.8% during the forecast period (2023-2030).
By distribution channel, the veterinary clinics segment led the market.
The rising prevalence of farm animals related to diseases, rising demand for vaccines, and the growing introduction of advanced vaccine by market players are the key factors driving the market growth.
Boehringer Ingelheim International GmbH, Merck Animal Health (Merck & Co., Inc.), and Zoetis Services LLC are the top players in the market.
North America region dominated the market in 2022.
The growing awareness vaccines among farm animal-owners coupled with innovative vaccines launches are expected to drive the product adoption in the market.