The veterinary vaccines market is estimated to be valued at USD 9.70 Bn in 2024 and is expected to reach USD 16.17 Bn by 2031, growing at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.

Veterinary vaccines are biological preparations used to establish or improve immunity to a particular disease for companion animals. Veterinary vaccines help prevent serious illness and shedding of pathogens by vaccinated pets. Canine and feline vaccines have been proven to be effective against several infectious diseases such as canine distemper virus, canine parvovirus, canine rabies virus, feline calicivirus, feline panleukopenia virus, and rabies virus. The increasing trend of pet adoption and growing expenditure on pet healthcare are the major factors driving the growth of this market.

Key Takeaways

Key players operating in the veterinary vaccines market are Zoetis Inc., Merck and Co. Inc., Boehringer Ingelheim GmbH., Elanco Animal Health, Virbac, Phibro Animal Health Corporation, and Kemin Industries, Inc. Zoetis Inc. is one of the leading players offering vaccines for cattle, swine, poultry, sheep, dogs, cats, and horses. Merck and Co. has a strong portfolio of livestock and companion animal vaccines.

Growing Veterinary Vaccines Market Size for pet insurance and rising per capita healthcare expenditure in developed economies have increased spending on routine vaccination and prevention of pet diseases. According to the North American Pet Health Insurance Association, pet insurance enrollment grew by over 25% between 2017 and 2019.

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