July 23, 2024

Veterinary Vaccines Market is Estimated to Witness High Growth Owing to Rising Pet Ownership

The Veterinary Vaccines Market is estimated for 2024 for the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Veterinary vaccines are biological preparations used to provide active acquired immunity against various animal diseases in pets and livestock. They help prevent infectious diseases in animals that can cause severe illness and even death.

Market Dynamics:

Rising pet ownership around the world along with growing awareness about animal health are expected to drive the veterinary vaccines market during the forecast period. According to the APPA National Pet Owners Survey in the U.S, around 90.5 million households, or 62% of U.S. families, own a pet. Moreover, increasing consumption of animal-derived food products is another factor raising demand for veterinary vaccines globally. Livestock animals need to be protected from infectious diseases that can impact meat and milk production as well as spread zoonotic diseases. Furthermore, growing prevalence of zoonotic diseases and stringent regulations regarding animal healthcare are further expected to fuel market growth over the coming years.

Major Drivers of Pet Vaccination Needs With Growing Pet Population

With the growing popularity of pet ownership around the world, veterinary practices are seeing an increasing need for several core pet vaccinations. As more households choose to welcome dogs and cats into their families, the demand for routine vaccinations has increased substantially. According to recent surveys, over 60% of American families now own a pet, with dogs and cats being by far the most popular. With so many pets in homes, it is important for responsible pet owners to keep their vaccinations up to date to protect their furry companions as well as other animals they encounter.

Increasing Focus on Preventive Healthcare and Wellness Boosts Vaccine Use

Along with the pet population surge, there is a rising emphasis on preventive healthcare and early disease detection among pet owners. Just like humans, pets benefit greatly from vaccination programs that help strengthen their immune systems and lower risks of contracting infectious illnesses. Many vets now promote wellness visits where routine vaccinations for illnesses like rabies, distemper and parvovirus can be easily administered. With owners keen to keep pets healthy for as long as possible, this proactive approach to vaccinations has become the norm rather than exception.

Supply Chain Disruptions Pose Restraints to Veterinary Vaccine Development and Distribution

The ongoing pandemic and other global headwinds have disrupted pharmaceutical supply chains to varying degrees across different regions. Challenges in raw material procurement, manufacturing delays, transport issues as well as staffing problems due to illness have at times hampered timely distribution of vaccines. These supply chain bottlenecks constrain vaccine makers’ abilities to meet the growing demand from veterinary clinics. They also increase costs due to inefficiencies, affecting the prices pet owners pay for important protective immunizations. While pharmaceutical firms continue working to strengthen supply infrastructure, constraints related to distribution remain a concern for this market.

Vaccination Exemption Trends Pose Opportunities for Education and New Products

While the vast majority of pet owners understand the value of vaccinations in preventing debilitating diseases, a small but vocal portion still question the need or safety of some immunizations. Growing exemption trends in some areas pose both challenges and opportunities for the veterinary vaccine market. On one hand, they risk reducing herd immunity levels in some communities. However, they also represent a need for more education around the science and public health benefits of vaccination. For innovative companies, there may be opportunities in developing new formulations, delivery methods or products tailored for owners with special exemption needs or concerns. Overall engagement and information can help address current skepticism trends in a constructive manner.

Shift Towards Individualized Vaccine Protocols and Therapeutic Vaccines

With advances in veterinary medicine and a better understanding of specific disease risk factors, there is a shift underway towards more tailored, less rigid vaccination recommendations. Rather than one-size-fits-all annual boosters, protocols are increasingly factoring in each pet’s lifestyle, health status and environmental exposures. This allows for more selective, customized approaches that deliver strong protection without over-vaccinating low-risk pets. At the same time, therapeutic applications are growing – vaccines show promise for modulating immune responses in allergic and dermatological conditions with non-infectious triggers. These trends point to upcoming opportunities for vaccines providing more precise, personalized preventive or treatment-focused benefits.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it