The veterinary vaccines industry is entering a high-growth phase, fueled by a surge in companion animal ownership, rising zoonotic disease risks, and strong government initiatives in animal health. This momentum signals massive opportunities for innovation, scalability, and leadership in the sector.
Market Stats & Strategic Insights:
Global Veterinary Vaccines Market was at USD 8.93 Billion in CY 2023, growing to USD 9.39 Billion in CY 2024 and is projected to reach USD 13.33 billion by 2029, up from USD 9.39 billion in 2024. Steady CAGR of 6.1% reflects sustained demand and innovation and a growth in line with overall growth of Global AH Industry.
Key Drivers
Companion Animals
Increasing pet adoptions specially post Covid-19 and humanization of pet animals are the key reasons for the surge in demand for Pet Vaccinations. According to Global State of Pet Care 2022 – pet ownership is growing worldwide with over a Billion Pets around the world with almost 50% of global households are estimated to have a pet.
4 major countries / groupings – US, Brazil, China and EU account for close to 60% of global pet ownership. With rising income levels and increasing urbanization – emerging economies too are witnessing very high growth in pet adoptions leading to an overall surge in spending on pet care which includes pet vaccinations.
It comes as no surprise that World’s leading AH Company – Zoetis derives more than 50% of its revenues from Companion Animals segment, closely followed by Boehringer Ingelheim, Merck and Elanco.
Livestock / Food Animals
While the Livestock / Food Animals segment held the largest share of overall veterinary vaccines market in 2024, the steady growth in this segment is expected to continue, owing to focus on disease prevention, concerns around usage of Medicated Feed Additives and focus on increasing productivity to continue meet growing demand for animal proteins.
Major Corporate Developments
- Ceva of France, invested in setting up a New, Veterinary Vaccines Manufacturing Plant in Hungary for production of fermentation based, multi-component, inactivated vaccines for animals
- In November 2024 – Boehringer Ingelheim introduced EURICAN L4 Vaccine – a 4 strains, Leptospira vaccine
- In Sep 2024 – Merck announced the expansion of its NOBIVAC NXT Platform, with launch of world’s first and only RNA-particle technology for FelV, Feline Leukemia Vaccine
- In March 2024, Zoetis announced the acquisition of a vaccines manufacturing site in Melbourne, Australia to develop and manufacture livestock and companion animals vaccines for ANZ market
World’s Leading Veterinary Vaccines Companies
Global Players
- Zoetis
- Merck / MSD AH
- Boehringer Ingelheim
- CEVA
- VIRBAC
- PHIBRO
Regional Players
- HIPRA of Spain
- Hester Biosciences from India
- Indian Immunologicals from India
- Biogenesis Bago of Argentina
- Vaxxinova from The Netherlands
- China Animal Husbandry Industry Co, China
- Tianjin Ringpu Biotechnology Co, China
- Calliers, Spain
- CAVAC of South Korea
- Ventri Biologicals from India
