Veterinary Vaccines Market: Growth, Size, Share, and Trends

By type, the livestock vaccines is expected to be the largest segment during the forecast period.

In 2023, the livestock vaccines segment held the largest share of the veterinary vaccines market. As livestock animals are owned for the production of food, such as meat and dairy products. As global demand for animal derived food increases and livestock farming intensifies to meet the nutritional needs of an expanding population, there is a greater emphasis on maintaining animal health, preventing disease outbreaks, and improving overall productivity. The meat industry is experiencing significant growth, driven by both increased production capacity and rising domestic and global demand for meat products. In 2023, the United States claims the global title of the largest beef producer, with over 30% of its farms dedicated to beef production. (source: Carlisle technology). As livestock farming grows more industrialized and regulated, there will be greater needs for disease preventive vaccines.

Furthermore, the rising government laws and policies on vaccination for livestock, along with the increasing awareness of food safety and animal health, will drive the need in the future for livestock vaccines. All these factors combine to ensure that livestock vaccines continue to remain the largest segment for veterinary vaccines.

By end user, veterinary hospitals segment is expected to hold the largest share during the forecast period.

In 2023, the market for veterinary vaccines was dominated by veterinary hospitals by end user segment. Increased ownership to companion animals, increased population of livestock animals, and demand for animal derived food in emerging economies would therefore lead to an increasing emphasis on animal healthcare and vaccination. Animal Care has improved remarkably for the interiors in veterinary hospitals as the first source of care for diagnosing and treating any healthcare condition.

Most veterinary vaccine manufacturers prefer to sell their vaccines directly to licenced veterinarians or to proprietary distributors who only sell to veterinarians, rather than to third-party pharmacies. Such availability of many veterinary professionals in veterinary hospitals, increasing veterinary visits, and increasing awareness about animal health in developing emerging countries are other contributing factors.

Also, increased spending on animal care has been another driver behind the increase in vaccination levels in hospitals for pets. This trend is mostly observed in the developed parts of the world such as the US, Germany, and the UK. Pet owners in these parts are willing to spend on their pets' regular health checkup and treatment. For example, the American Pet Products Association says that the U.S. market spent USD 147 billion on pets in 2023, including USD 64.4 billion on food and treats. Vet care and product sales cost around USD 38.3 billion while other services, such as grooming, accounted for USD 12.3 billion.

The veterinary sector in the emerging countries is growing because of the rapid increase in the population of companion animals and livestock, along with rising affordability in these countries for healthcare services.