The swine, ruminant and companion animal vaccines market is USD 4,656.6 million in 2021, with a strong CAGR of 6.1 percent expected from 2022 to 2028. The swine, ruminant, and companion animal vaccines market is expected to experience steady growth due to increased pet ownership in developed countries and a rise in the number of cattle & poultry in developing countries. Furthermore, the rise in investment in research and development of vaccines, which inhibit the growth of antibiotic-resistant organisms, boosts the growth of the swine, ruminant, and companion animal vaccines market. Productivity in livestock is severely impacted by the presence of a few bacterial, viral, and protozoan borne diseases. Timely vaccination prevents the risk of infection and affects a farmer’s income through livestock rearing. Furthermore, the rate of developing infectious diseases continues to rise, necessitating the rapid deployment of new vaccinations. For effective disease eradication, it is critical to identify such diseases and vaccinate animals regularly. Because of advancements in technology and medicine and our comprehensive knowledge of immunology, molecular biology, microbiology, and biochemistry, among other basic science fields, new vaccine manufacturing methods have emerged, providing several chances to key market players. In the swine, ruminant, and companion animal vaccines market size, the attenuated vaccines segment dominated the product type segment with the largest share. By stimulating a wide spectrum of immune responses, attenuated vaccines can deliver better immunity than conventional vaccines. Furthermore, it helps to lessen the need for booster vaccinations that can be given orally and generates long-lasting and fast immunity, all of which contribute to the growth of the swine, ruminant, and companion animal vaccines market.
Recent Market Developments:
In August 2021, Zoetis Inc. announced it has entered into an agreement to acquire Jurox, a privately held animal health company, which develops, manufactures, and markets a wide range of veterinary medicines for treating companion animals and livestock. Jurox’s operations are based in Australia, with additional regional offices and subsidiaries in New Zealand, U.S., Canada, and the UK. Financial terms of the transaction are not being disclosed.
In August 2021, as part of Sanofi’s endeavor to accelerate the application of messenger RNA (mRNA) to develop therapeutics and vaccines, the company has entered into a definitive agreement with Translate Bio a clinical-stage mRNA therapeutics company, under which Sanofi will acquire all outstanding shares of Translate Bio for $38.00 per share in cash, which represents a total equity value of approximately $3.2 billion