June 13, 2024
Global Canine Influenza Vaccine Market

Surging Canine Influenza Virus Infections Propel Global Vaccine Market

Canine influenza vaccine, also known as dog flu vaccine, helps prevent infection caused by canine influenza virus (CIV) in dogs. CIV causes respiratory disease in dogs that is similar to influenza virus in humans. In the last decade, occurrence of canine influenza virus infection has significantly increased among dogs in various parts of the world. This has driven higher administration of influenza vaccine to dogs for protection against the highly contagious respiratory disease.

The Global Canine Influenza Vaccine Market is estimated to be valued at US$ 1,805.7 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

Administration of Global Canine Influenza Vaccine Market Size helps generate protective antibodies against the influenza A virus subtypes H3N8 and H3N2 in dogs. This prevents dogs from getting infected and spread of the disease. The vaccine provides immunity for at least 1 year and helps control outbreaks of the virus. Growing pet ownership and increasing healthcare expenditure on pets have boosted demand for canine influenza vaccines globally. Various initiatives from veterinary organizations to spread awareness about dog flu vaccination have further augmented market growth.

Key Takeaways

Key players: Key players operating in the global canine influenza vaccine market are Zoetis Services LLC, Merck Co., Inc., Covetrus, CSL Limited, Boehringer Ingelheim Animal Health USA Inc., and Elanco. These companies have significantly contributed to the market growth through continuous new product launches and increased focus on expanding geographic reach.

Key opportunities: Rising cases of canine influenza infection in new geographies present significant opportunities for manufacturers to enhance vaccination rates. Growing consumer willingness to spend on pet health insurance and rising disposable incomes in developing nations will further support market revenues.

Global expansion: Leading market players are focusing on expanding presence in high growth markets such as Asia Pacific and Latin America through strategic collaborations and acquisitions. This will help strengthen their distribution networks and cater to the rising demand from global pet owners.

Market Drivers: One of the key drivers spurring growth of the global canine influenza vaccine market is rising incidence of Global Canine Influenza Vaccine Market Size infection in dogs. In the past decade, occurrence of canine flu outbreaks has increased across various geographies due to rising pet adoption rates and frequency of pet travel. Vaccination offers the most effective solution to control the spread of this highly contagious canine disease.

PEST Analysis

Political: Canine influenza vaccine market is regulated by various government bodies that mandate vaccination of dogs. Changes in these regulations can impact the demand dynamics of the market.

Economic: Growing pet ownership and higher spend on pet care products is expected to drive the demand for canine influenza vaccines. An economic slowdown can adversely impact the overall discretionary spending on pet care.

Social: Increase in pet humanization and growing pet population worldwide is leading to higher awareness about pet health and wellness. Pet owners are more receptive towards preventive vaccinations for their pet’s health.

Technological: Advancements in vaccine production technologies help in developing low-cost and more effective shots. However, limited R&D investments from manufacturers for this niche segment can impact technological upgrades.

Geographical concentration

The market in the United States holds the largest value share currently due to high pet ownership, mandatory regulations and greater awareness among pet owners regarding canine influenza vaccination. The Asia Pacific region is expected to witness the fastest growth during the forecast period given rising demand from countries like China and India attributed to growing pet population.

Fastest growing region

The Asia Pacific region excluding Japan is projected to grow at the fastest pace during the forecast period. This can be accredited to factors like increasing pet adoption, rising per capita spends on pet healthcare, growing awareness about zoonotic diseases and introduction of effective vaccines by global manufacturers looking to tap opportunities in emerging Asian countries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it