Companion animal vaccines are used to stimulate an immune response in pets such as canine, avian and feline. These vaccine products are of various types such as Attenuated Live Vaccines, Conjugate Vaccines, Inactivated Vaccines, Subunit Vaccines, Toxoid Vaccines, DNA Vaccines and Recombinant Vaccines. Attenuated live vaccines are derived from disease-causing pathogens such as virus or bacteria, which have been weakend under laboratory conditions. Conjugate vaccines are an antigen or toxoid-containing preparation that is linked to polysaccharides and stimulate the immature immune system to defend against the disease-causing organism. Inactivated vaccines are made from microorganisms such as viruses and bacteria that have been killed through physical or chemical processes. Subunit vaccines, like inactivated whole-cell vaccines, do not contain live components of the pathogen. Toxoid vaccines are based on the toxin produced by certain bacteria, which is rendered harmless and used as the antigen in the vaccine to elicit an immune response. DNA vaccines are manufactured by inserting DNA into a bacterial plasmid, which functions as the vector. Recombinant vaccines are produced by genetic engineering technology and use attenuated virus or bacterium as a vector to introduce microbial DNA to the cells of the body.
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According to Future Market Insights’ research, lack of information on emerging virulent veterinary diseases, and decline sales revenues through veterinarians can stifle demand for companion animal vaccines during the forecast period. The longstanding challenges with correctly identifying and understanding antigen/immunogenic structures can also negatively impact the growth of the market.
Nearly US$ 764 Mn worth of attenuated live vaccines were sold globally in 2016. This segment is projected to grow at a CAGR of 7.3% during the forecast period 2016-2026.
Veterinary clinics continue to be the preferred distribution channel for pharma companies, followed by veterinary hospitals. These two point of care centres witness substantial footfall of pet owners all year round, and drug companies continuously focus on increasing sales through these channels. In 2016, these two distribution channels collectively accounted for nearly 75% revenue share of the market. By the end of forecast period, the status quo is expected to remain unchanged. Retail pharmacies, which held 20% share of the market in 2016, will grow at the highest CAGR during the forecast period.
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The U.S. continues to be a leading market for companion animal vaccines. High level of awareness among pet owners, combined with easy availability of pet healthcare have resulted into the growth of the market in the U.S. On account of strong demand in the U.S., North America will continue to be the largest market globally.
The North America companion animals market was valued at nearly US$ 676 in 2016. It is projected to increase at 6.9% CAGR through 2026, reaching over US$ 1.3 Bn in revenues. Western Europe, the second-largest market for companion animal vaccines is projected to grow at 7.1% CAGR through 2026.
Overall, Future Market Insights maintains a positive outlook on the global companion animal vaccines market, projecting it to grow at 6.8% CAGR during the forecast period 2016-2026.
Zoetis Inc. will continue to account for a leading share of the US$ 2.26 Bn (2016) global companion animal vaccine market. The pharmaceutical company accounted for over 46% share of the global market in 2015, and it is expected to maintain its numero uno position during the forecast period 2016-2026. Merck & Co., Inc. and Merial, will remain the other key players in this market.
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