Wilmington, Delaware, United States, Transparency Market Research Inc.: Veterinary vaccines are increasingly becoming integral to comprehensive control strategies to prevent and eradicate several diseases of the livestock.
Wilmington, Delaware, United States, Transparency Market Research Inc.: Veterinary vaccines are increasingly becoming integral to comprehensive control strategies to prevent and eradicate several diseases of the livestock. A classic case in point is the leveraging veterinary vaccines as a part of such a control strategy to eradicate Rinderpest through vaccination.
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Developers of veterinary vaccines have made astounding progress in understanding the transmission risk profiles of target host species in guiding their R&D efforts. Equally importantly, the growth trajectories of veterinary vaccines market around the world have been dictated by the propositions of cost and safety, in addition to efficacy of the products.
Thus, the direction of development of the vaccine toward a specific animal type depends on the troika of cost, safety, and efficacy. The global veterinary vaccines market was pegged at US$ 6,100 Mn in 2017. This is projected to reach US$ 12,000 Mn by 2026 by advancing at a CAGR of above 6.5% during the forecast period of 2018 to 2026.
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Economic Burden of The Infection Diseases of Livestock Animals Key Driver
The economic burden of a certain disease is unarguably a major consideration for investors and public research organizations holding stakes in the veterinary vaccines market. Considerable morbidity and mortality of the infection diseases of the livestock is a key driver. The growing demand for vaccines for non-infectious diseases notably including allergies and cancers has also imparted momentum to the strides in the veterinary vaccines market. Another major stimulant for R&D in the veterinary vaccines market are the pressing need to protect humans from zoonoses. In the recent months of the emerging COVID-19 pandemic, this has gained groundswell of attention. Classic case in point is development and application of vaccination for domestic dogs to protect humans against rabies.
The key technologies being marketed to customers in the veterinary vaccines market are activated vaccines, conjugate vaccines, live attenuated vaccines, and toxoid vaccines. Each of these constitute a different approach and hence have strengths and limitations to meet the stated objectives. For instance, the steady demand for booster immunizations inactivated whole-pathogen vaccines has propelled the revenue sales in the veterinary vaccines market.
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Live attenuated vaccines and DNA vaccines have emerged as highly lucrative segments. Live attenuated vaccines have been contributing a major share of the veterinary vaccines market in recent years. Key advantages have circumscribed the tailwinds associated with the segment, namely, their ability to express wider range of relevant pathogen antigens, the effectiveness of these without the need for adjuvant, and their purported efficacy against protozoan or helminth parasites. A case in point is the gush of R&D spending by players in the veterinary vaccines market on the development of BCG vaccine against bovine TB. Players in the veterinary vaccines market intend to reap vast revenue gains from R&D in live attenuated vaccines and DNA vaccines.
DNA Vaccines Witnessing Enormous R&D, Propelling New Revenue Streams
Of special interest in vaccine technologies are DNA vaccines. Both technical superiority and macro-economic factors has reinforced the prospects of DNA vaccines in the overall veterinary vaccines market. Their ease of designing and their cost effectiveness for customers are the favorable economic propositions propelling the popularity of veterinary vaccines. Additionally, they ca induce both cellular and humoral immune responses.
The study on the veterinary vaccines market has found that the segment is poised for significant growth during the forecast period. Clinically, researchers have found DNA vaccines to be effective against multiple pathogens for poultry industry through simultaneous immunizations. DNA vaccines have been successful against West Nile virus in horses and canine melanoma in dog, and many more. These applications paint a positive outlook of the DNA vaccines segment in the veterinary vaccines market.
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However, DNA vaccines are not applicable for mass vaccinations, perhaps due to lack of studies on these. The growing commercial production of DNA vaccines has spurred revenue sales for vaccine manufacturing companies. The salient advantages they possess over conventional vaccines have attracted regulators to approve their use in certain diseases. A case in point is approval of highly pathogenic H5 avian influenza by the United States Department of Agriculture (USDA).
Extensive efforts of improving the immunogenicity of DNA vaccines are propelling the opportunities in the global veterinary vaccines market. As a key approach to this end, researchers continue to look ways for optimizing the antigens that are carried in plasmids. Nevertheless, there exits an unmet need in the lack of widespread utilization of DNA vaccines in poultry. Another area where vaccine developers of DNA veterinary vaccines are working is optimizing the routes of administration.
A number of novel delivery methods and routes have enriched the value chain of DNA vaccines pipeline in the veterinary vaccines market. In this regard, oral administration is gaining preference over parenteral routes in poultry. Advancements in expression vectors have enabled veterinary vaccine manufacturers to overcome the key obstacles in DNA vaccines. Several approaches have been used for enhancing the expression in newly developed DNA vaccines. A case in point is focus on improving the antibody response in chickens.
In recent years, gram-negative bacteria have been considered as potential carriers for DNA vaccines. Broadly, extracellular pathogens, intraphagosomal bacteria, and intracytosolic bacteria have attracted R&D, thus boosting the veterinary vaccines market. Advancements in attenuation methods have also enables vaccine manufacturers to strengthen their product profiles in recent years.
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North America Lucrative Market
Geographically, the study segments the veterinary vaccines market into North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. Of these, North America held a major share of the global market in 2017. The presence of a robust vaccination programs for livestock and domesticated animals, coupled with rise in ownership of companion animals, have fueled the revenue prospects of the North America veterinary vaccines market.
On the other hand, Asia Pacific is an emerging market, and is projected to witness opportunities rise at significant pace during the forecast period. Meanwhile, Latin America and Middle East & Africa are anticipated to witness several lucrative avenues. Growing concern of zoonotic diseases and growing government spending on immunization programs for poultry are the ke drivers for growth.
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