Brazil Veterinary Vaccines Market Growth & Trends

The Brazil veterinary vaccines market size is expected to reach USD 707.8 million by 2027 registering a CAGR of 6.4%, according to a new report by Grand View Research, Inc. Factors, such as increasing livestock population and mandatory vaccination, are propelling the growth of this market.

Growing prevalence of zoonotic diseases is further boosting the demand for vaccines. Favorable environment and increasing livestock population are among few factors that attract foreign companies to invest in the Brazil market. According to OECD, Brazil received about USD 62.7 billion in Foreign Direct Investment (FDI) in 2018. Foreign animal health companies also entered into the market by acquiring top regional companies. The aforementioned factors are expected to propel the market growth over the forecast period.

The massive outbreak of COVID-19 in countries, such as China and U.S., is expected to boost the growth of the Brazil’s meat export market. For instance, the Brazilian livestock production is expected to increase by nearly 5% due to the COVID-19 pandemic. China already increased its import of meat in 2019 due to the outbreak of African swine fever, which reduced its hog population.

Brazil Veterinary Vaccines Market Report Highlights

  • Live attenuated segment led the global market in 2019. The dominance can be attributed to increased usage of this vaccines in mass vaccination
  • On basis of animal type, ruminants held the largest revenue share in 2019 owing to increasing livestock population in the country and new product launches
  • In 2017, Ceva entered into the FMD vaccine market in Brazil by acquiring Hertape Saude Animale Ltda and Inova Biotecnologia Sa?de Animale Ltda. The company accounted for around 15% of the FMD vaccine market in Brazil in 2017
  • Boehringer Ingelheim acquired Merial in 2017 to increase its market penetration in Brazil. In 2017, MSD Animal Health acquired Vall?e to boost its vaccine portfolio