Companion Animal Vaccines Market Analysis

Companion Animal Vaccines Market Analysis

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By vaccine type, the companion animal vaccines market is classified into live attenuated, inactivated, recombinant and others. The live attenuated segment accounted over 45% of the market share in 2022 and is projected to witness robust growth over the analysis timeframe. This majority market share is primarily owing to high clinical efficacy as compared to other vaccines type. Majority of the commercially available veterinary vaccines are live attenuated vaccines. These vaccines can induce humoral as well as cell-mediated immune responses, thereby offering long-term effectivity. Also, these vaccines are also known to induce higher immunogenicity and often, a single vaccine dose is sufficient to provide long-term protection. Live attenuated vaccines are highly preferred in emerging economies owing to high cost-effectivity as compared to other vaccines. Thus, numerous benefits associated with live attenuated are propelling the market growth positively.
 

By animal type, the companion animal vaccines market is divided into canine, feline, equine and avian. Canine segment accounted for over 55% market proportion in 2022 and is expected to dominate the market throughout the forecast period. The increasing segmental growth is attributed to rising adoption of dogs across the globe. Also, countries in Europe such as U.K, Poland, France are noted to have some of the highest population of pet dogs and that will attract more pet owners to opt for various core and non-core vaccines. Thus, the countries with high population of dogs as compared to other companion animals is expected to create a considerable growth opportunity for the market.
 

Based on route of administration, the market is segmented as injection vaccines, oral vaccines and spray vaccines. The injection segment held a significant market share in 2022 and was valued at more than USD 1.5 billion. Subcutaneous or intramuscular is the dominant route of vaccine administration in companion animals and is prioritized for diseases requiring systemic immunity. This approach optimizes the vaccine immunogenicity and reduces potential adverse reactions at the injection site. Several clinical studies have showcased the immunological benefit of injectable vaccines with minimal local side effects. Similarly, multiple studies have reported that vaccines administered through injections offer better efficiency and high humoral & cellular immune responses with a comparatively long duration of effect. Hence, high efficiency along with low side effects offered by injection vaccines promotes its preference among veterinarians, thereby accelerating the industry growth in the coming years.
 

Companion animal vaccines market by distribution channel is classified as veterinary hospital pharmacies, retail pharmacy, online stores. The veterinary hospital pharmacies segment held a significant market share in 2022 and is estimated to grow at 6.9% from 2022 to 2032. Companion animal vaccines are an important component of preventive healthcare for pets and are typically administered by licensed veterinarians in veterinary hospitals and clinics. Many veterinary hospitals also operate pharmacies, where pet owners can purchase prescribed medications and other products related to their pet's health. Increasing trend of companion animal vaccine manufacturers and distributors partnering with veterinary hospitals and clinics to improve the distribution of vaccines to pet owners via hospital pharmacies is expected to boost the segmental statistics.
 

North America companion animal vaccines market accounted for significant revenue in 2022 and is anticipated to grow at 6.8% during the forecast timeframe. This dominant market share is attributed to several factors such as growing adoption of pets, increasing awareness for companion animal vaccination, and a rise in the incidence of zoonotic diseases across the country. According to the American Pet Products Association's 2021-2022 National Pet Owners Survey, there were more than 69 million pet dogs and 45 million pet cats in the U.S. households. The growing pet adoption and increasing pet healthcare expenditure are set to increase the demand for companion animal vaccines, further facilitating the regional industry growth.