Asia Pacific Veterinary Vaccine Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Asia-Pacific veterinary vaccine market is expected to witness a CAGR of 6.12% over the forecast period.

COVID-19 has led to increased adoption of pet animals during the pandemic. For instance, as per the data published by the National Institute of Health in March 2021, it has been observed that pet adoption increased in Asian countries during the pandemic, and initial vaccinations on pets were done regularly. Moreover, according to an article published by Frontiers in May 2021, a study was conducted in countries such as Australia, the United States, Canada, New Zealand, the United Kingdom, Singapore, the Philippines, and Malaysia, which showed that during the last five years, the pet adoption rate was the highest during the early pandemic phase. Though the pet adoption rate increased during the pandemic, in several countries, the vaccination of dogs for diseases such as rabies was reduced. For instance, according to an article published by Frontiers in July 2022, a study was conducted in 48 countries in Asia and Africa, which showed that the mass dog vaccination for rabies control was heavily impacted during the early pandemic, and it was carried out as planned in just 5% of surveyed countries. Thus, the veterinary vaccines market was affected significantly as a result of COVID-19. However, as the pandemic has subsided, the pet adoption rate and the vaccination rate have gone back to normal, thus the studied market is expected to have stable growth during the forecast period.

The key factors propelling the growth of this market are the increasing incidences of livestock and zoonotic diseases, veterinary vaccination initiatives taken by various government agencies, and animal associations, as well as by the leading players operating in the Asia-Pacific region. For instance, according to a study published in the Infection Ecology & Epidemiology in September 2021, one of the most dangerous zoonotic diseases in the world is salmonellosis. Salmonella prevalence in animals and risk factors for increased transmission of salmonella spp. from animals to people were evident. Hence, with the emergence of such diseases in animals, the market studied is expected to witness growth over the forecast period.

Moreover, according to an article published by SpringerLink in May 2021, the canine adenovirus (CAV) is said to have two distinct serotypes CAV1 and CAV2. The CAV1 targets the digestive tract tissue and it is the causative agent of infectious canine hepatitis (ICH) (also called Rubarth's disease), a life-threatening disease of puppies, and the CAV2 replicates in respiratory epithelium and is associated with respiratory diseases. A study was conducted on 26 dogs in India which showed the presence of a novel CAV2 strain in dogs that is genetically distinct from other Indian CAV2 strains which are currently circulating in India. The emergence of a such highly infectious novel strain of viruses among the canine population is expected to boost the adoption of vaccines during the forecast period of the study.

Furthermore, according to an article published by Recent Advances in Canine Medicines in October 2021, canine parvovirus-2 (CPV-2) is considered a highly contagious and key entero-pathogen affecting the canine population. In India, the CPV-2a variant of the virus has recently become the most prevailing antigenic type among all variants, and the emergence of such new antigenic variants that differ significantly from the current vaccine strains is a matter of concern for the efficacy of available vaccines. Hence, the emergence of such new virus strains is expected to create more demand for veterinary vaccines.

However, high storage costs for vaccines are expected to hinder the market growth.

Asia Pacific Veterinary Vaccine Market Trends

The Live Attenuated Vaccines Segment is Expected to Hold a Significant Market Share Over the Forecast Period

The live attenuated vaccines segment is believed to have significant growth over the forecast period. Live vaccines contain a weakened version of the living germ, making them ineffective in causing diseases. The live attenuated vaccines produce a similar yet weakened response compared to that of natural infections. However, whenever there is exposure to potent viral agents, the vaccine generates an immune response and helps in protection against the pathogen.

Most of the vaccines licensed for oral or intranasal administration are attenuated. These vaccines are stored and handled properly, with stringent attention to temperature, even in the lyophilized (free-dried) state. Some examples of these types of vaccines include canine distemper virus vaccines and all canine parvovirus and adenovirus-2 vaccines.

The rising prevalence of infectious diseases among animals is driving the market growth. For instance, the Indian Council of Agricultural Research (ICAR) announced in September 2022 that the Lumpy Skin Disease (LSD) virus, has killed almost 50,000 heads of cattle in multiple states across India since April 2022. For these diseases, a live attenuated vaccine is being developed to control the mortality of cattle across the country. Similarly, as per the data from Animal Health Australia published in June 2022, the country is currently focused on the development of a live attenuated vaccine for foot and mouth diseases caused by a virus in livestock. The data further stated that the need for the development of this vaccine has risen due to the large livestock population in the country acting as a part of the growing economy of Australia.

Moreover, according to an article published by Microbiology Spectrum in November 2022, a study was conducted in China which showed that 88.29% (98/111) of clinical samples were CPV-2 (a variant of canine parvovirus) positive, which indicated that the disease was widespread among the dog population in Henan province of China from 2020 to 2021. This is expected to boost the usage of live attenuated vaccines for the disease.

China is Expected to Witness Healthy Growth Over the Forecast Period

In recent years, China has witnessed a significant increase in the adoption of dogs and cats as pets, as they are considered to be the most favorite companions of human beings. The increasing nuclear family trend across the country has accelerated pet ownership, and this trend is expected to continue during the forecast period, which in turn is expected to increase the demand for animal health products and services in the country, thereby fuelling market growth.

According to the January 2022 report of Pethadoop, a platform specializing in China's animal health sector, cats made up 59.5% of all the pets owned by the 30,000 respondents questioned. As per the report, the trend of owning a pet is increasing in China, which is expected to be the major driving factor for the growth of the studied market in the country.

Also, as per the February 2022 report of the China Pet Industry Association, the total sale for cat and dog consumption, including medical treatment services in 2021 was approximately USD 38.4 billion USD, the average expenditure on the dog was about USD 406, while for a cat it was USD 280 in 2021. This expenditure is likely to increase with the increasing adoption of pets in the country, thereby boosting the market growth.

Asia Pacific Veterinary Vaccine Industry Overview

The Asia-Pacific veterinary vaccine market is moderately consolidated and consists of several major players. In terms of market share, a few of the major players currently dominate the market. Companies, like Zoetis Inc., Merck & Co. Inc., Virbac Inc., and Boehringer Ingelheim International GmbH, hold a substantial market share in the Asia-Pacific veterinary vaccine market.

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