The animal vaccines market is expected to see notable growth by 2027 owing to mounting incidences of infections among animals across the globe. Moreover, growing focus on protecting animal health is speculated to further promote market growth through the forecast timeline.

Vaccines are an efficient method to prevent or mitigate diseases in livestock as well as domestic and wild animals. Notably, after the COVID-19 outbreak, research studies found that animals could not only get infected but also transmit the novel coronavirus to other animals.

Thus, countries worldwide have been working on administering vaccines to animals to protect them against the infection, which has bolstered product demand during the pandemic. For instance, in August 2021, the Detroit Zoological Society (DZS) announced that it had begun vaccinating animals who were considered most prone to COVID-19 using the vaccine developed exclusively for animals by Zoetis, an American veterinary pharmaceutical firm.

The animal vaccines market has been segmented on the basis of animal type, technology, infections, and region. By animal type, the market has further been divided into farm animal vaccines and companion animal vaccines.

In 2020, the farm animal vaccines sub-segment was valued at more than USD 5,497 million and is projected to grow at a CAGR of over 5.7% through the assessment timeframe. Prominent technological developments in animal vaccines, coupled with rising number of initiatives by government and public organizations to promote animal health, are set to fuel segmental growth in the coming years.

Based on technology, the animal vaccines market has been categorized into inactivated vaccines, live attenuated vaccines, recombinant vaccines, toxoid vaccines, and others. The inactivated vaccines sub-segment exceeded a valuation of USD 3,024 million in 2020 and is estimated to register a CAGR of around 5.6% over the analysis period. Inactivated vaccines offer several advantages like they can stimulate the immune system to protect the body against infection, can be easily stored & shipped, cannot revert to a more pathogenic phenotype, and so on, which is likely to propel segmental demand over the following years.

With respect to infections, the animal vaccines market has been segregated into viral vaccines, bacterial vaccines, fungal vaccines, parasitic vaccines, and others. In 2020, the parasitic vaccines sub-segment surpassed a revenue of USD 686 million and is speculated to expand at about 5.9% CAGR through the study timeframe. Increasing prevalence of parasitic infections among animals, supportive government initiatives, and growing awareness pertaining to parasitic infection are slated to stimulate segmental expansion in the upcoming years.

In terms of route of administration, the animal vaccines market has been bifurcated into oral vaccines, injection vaccines, immersion/spray vaccines, and others. The injection vaccines sub-segment was valued at above USD 4,576 million in 2020 and is anticipated to observe robust growth at nearly 5.8% CAGR over the review period. Vaccine administration through injection offers several advantages, such as improved immune response to vaccine, rapid absorption, and ability to inject a relatively large amount of solution, among others, which are likely to impel product uptake over the forthcoming years.

From the regional perspective, the Latin America animal vaccines market was valued at over USD 666 million in 2020 and is estimated to progress at a CAGR of approximately 6.5% through the forecast period. Surging prevalence of zoonotic diseases across the countries in LATAM is set to foster regional market outlook in the future.