The European veterinary vaccine market is expected to witness a CAGR of 5.57% over the forecast period. The key factors propelling the growth of this market are increasing incidences of livestock diseases, initiatives by various government agencies, animal associations, leading players in the European region, and the increasing incidences of zoonotic diseases.
In 2018, Boehringer Ingelheim announced its plans to invest EUR 65 million in France for the production of avian vaccines, as its demand increased with an increase in poultry consumption. Moreover, the Veterinary Vaccinology Network (VVN) is an association of the United Kingdom, which takes care of veterinary vaccines in the country. The VVN association is working to introduce new developments, along with the latest tools, and technologies to meet the needs of veterinary vaccinology in the country.
Furthermore, in 2017, Spain implemented the Brucellosis Eradication Program with a target of reducing the number of cases of brucellosis at the end of 2018 and complete eradication by 2019.
The aforementioned statements indicate that veterinary health is an essential part for the European countries and good care of animal health is taken, which is a prime factor that augments the growth of the European veterinary vaccine market.
Key Market Trends
Live Attenuated Vaccines Segment is Expected to hold the Largest Market Share
The live attenuated vaccines segment of the European veterinary vaccine market is projected to grow at a faster rate during the forecast period.
All vaccines licensed for oral or intranasal administration are attenuated. These vaccines must be stored and handled properly, with strict attention to temperature, even in the lyophilized (free-dried) state. After the reconstitution, the dose of the vaccine should be administered promptly (within 1 hour) or discarded. Some examples of these type of vaccines include canine distemper virus vaccines and all canine parvovirus and adenovirus-2 vaccines.
Owing to the rising use of live attenuated vaccines, the segment is contributing to the largest market share of the European veterinary vaccine market.
The European veterinary vaccine market is a consolidated market, and it 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, Elanco, and Boehringer Ingelheim International GmbH, hold the substantial market share in the European veterinary vaccine market.
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