Veterinary Vaccine Adjuvants Market
Number of pages: 100 | Report Format: PDF | Published date: April 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 420 million |
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Revenue Forecast in 2031 |
US$ 703 million |
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CAGR |
5.9% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
|
Segments Covered |
Type, Route of Administration, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global veterinary vaccine adjuvants market was valued at US$ 420 million in 2022 and is expected to register a revenue CAGR of 5.9% to reach US$ 703 million by 2031.
Veterinary Vaccine Adjuvants Market Fundamentals
Veterinary vaccines are used to protect animals from infectious diseases. Adjuvants are substances added to vaccines to enhance the immune response and improve vaccine efficacy. Adjuvants help to increase the duration and strength of the immune response, which can result in better protection against the targeted disease. The global veterinary vaccine adjuvants market includes various products, including mineral oil, saponins, aluminum salts, and bacterial products. Several factors drive the global veterinary vaccine adjuvants market, including the increasing demand for animal health products, the growing prevalence of zoonotic diseases, and the rising awareness of the importance of animal welfare. The market is also influenced by government regulations and policies, as well as technological advancements in the field of vaccine development. Some key players in the veterinary vaccine adjuvants market include Bayer AG, VaxLiant, and Zoetis. These companies are actively engaged in developing and commercializing veterinary vaccine adjuvants and investing in research and development to improve the effectiveness of their products.
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Veterinary Vaccine Adjuvants Market Dynamics
The global veterinary vaccine adjuvants market is expected to grow in terms of revenue share during the forecast period, driven by the increasing demand for animal health products and the rising prevalence of zoonotic diseases. Technological advancements in the field of vaccine development and the development of new and innovative adjuvants are also expected to drive market revenue growth.
The main factors driving the global veterinary vaccine adjuvants market revenue share are the increasing usage of adjuvants in vaccines, the rising number of livestock and diseases linked to them, and the high prevalence of numerous diseases. One of the main drivers of the market revenue growth is the rising frequency of various ailments. For instance, anemia is the most prevalent disease in sow herds, especially during gestation, according to an NCBI study released in September 2021. Despite iron supplementation in feed, the disease persists and has been linked to a higher likelihood of stillbirths. Moreover, various bird species, including turkeys, ducks/chickens, geese, and peafowl, were infected with avian influenza in March 2022, according to a report released by the Government of Canada in April 2022. Due to the disease's rapid proliferation among all cattle species, the government is preparing to take the required measures to halt its spread. Thus, given the increasing frequency of illnesses, a greater-than-expected demand for veterinary vaccine adjuvants is expected to drive the market revenue expansion during the forecast period.
The significant growth of the market revenue is also aided by the rising cattle population and the diseases that accompany it. For instance, 12.6 million cattle were reported by Canadian farms in total in 2021, up from 12.5 million the year before, according to a report released by Statistics Canada in May 2022. Heifers for slaughter, dairy herd replacement, beef herd replacement, and bull reductions were somewhat offset by percentage increases in milk cows, steers, and beef cows. According to a study published in the September 2021 issue of Infectious Ecology & Epidemiology, salmonellosis is one of the most hazardous zoonotic illnesses in the world. There has been evidence of the prevalence of salmonella in animals and risk factors for enhanced transmission of salmonella spp. from animals to humans. Hence, the market is expected to grow during the forecast period due to the growing cattle population and related diseases worldwide.
However, many restraining factors are responsible for the slow growth of the global veterinary vaccine adjuvants market. The use of adjuvants in veterinary vaccines is subject to stringent regulations in many countries. This can make it difficult and time-consuming for manufacturers to approve their products, which may discourage some companies from entering the market. Developing and testing new adjuvants can be expensive, limiting the number of companies willing to invest in this area. This may lead to limited product availability, which could constrain market revenue growth.
Veterinary Vaccine Adjuvants Market Ecosystem
The global veterinary vaccine adjuvants market is analyzed from three perspectives: type, route of administration, and region.
Veterinary Vaccine Adjuvants Market by Type
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The global veterinary vaccine adjuvants market has been segmented based on type into oil emulsion adjuvants, alum and calcium salts, nanoparticles and microparticles, liposomes and archaeosomes, and others.
The alum and calcium salts segment accounts for the largest revenue share in the global veterinary vaccine adjuvants market. Since more than 80 years ago, aluminum-based adjuvants have often been used in vaccination preparations. They consist of calcium phosphate adjuvants, aluminum hydroxide, and phosphate adjuvants. Moreover, these adjuvants are quite safe and have minimal adverse effects. But, in rare instances, allergic reactions and granulomas might occur. In addition, modern advancements like aluminum oxyhydroxide nanoparticles in vaccine adjuvant formulation are more efficient in treating many diseases and preventing infectious diseases. Also, the segment is growing because of increased funding and investments in developing and producing novel vaccines.
However, the oil emulsion adjuvant segment is expected to grow at the highest revenue CAGR during the forecast period. This market segment is primarily driven by factors like the rising incidence of infectious zoonotic diseases and rising livestock populations and their associated diseases.
Veterinary Vaccine Adjuvants Market by Route of Administration
Based on the route of administration, the global veterinary vaccine adjuvants market is segmented into subcutaneous, intramuscular, oral, and others.
The intramuscular segment account for the largest revenue share in the global veterinary vaccine adjuvant market. This is because the immune system is more specific. The method of administration affects a vaccine's effectiveness. For instance, alum salts are the most popular parenteral adjuvants, which are useless when taken orally or through the nose.
Contrarily, other segments, including the intradermal and intranasal routes, are predicted to grow at the fastest revenue CAGR in the forecast period. The intradermal route has a longer absorption time and duration of action than other routes, contributing to the segment's growth.
Veterinary Vaccine Adjuvants Market by Region
Based on region, the global veterinary vaccine adjuvants market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America has the largest global veterinary vaccine adjuvants market revenue share. This is due to increased pet adoption, rising pet health insurance, and enhanced veterinary healthcare infrastructure. According to the Humane Society 2023 update, approximately 85 million families in America are pet owners. The use of veterinary vaccines is growing along with the trends in diseases becoming more prevalent in North America. For instance, Bovine Spongiform Encephalopathy (BSE) is a deadly, degenerative disease of the cow nervous system, according to the report released by the Government of Canada in April 2022. In response to these difficulties, Health Canada and the Canadian Food Inspection Agency (CFIA) created a broad range of scientifically sound controls that have gained international acclaim. These controls successfully reduce the risk of BSE exposure, amplification, and spread among cattle while shielding consumers from the associated risks to human health. Chronic wasting disease (CWD) is a highly prevalent prion disease affecting wild and farmed animals. It stands out for being highly contagious, widespread, and persistent in the environment and aiding in the transmission of the disease, according to the NCBI research study published in September 2021. As a result, the high frequency of diseases in North America is expected to fuel market revenue growth.
Europe accounts for the second largest revenue share in the veterinary vaccine adjuvants market. This large revenue share can be attributed to increased demand for animal vaccines, a rise in pet ownership, and the growing prevalence of animal diseases. Some of the major players in the European veterinary vaccine adjuvant market include SEPPIC, Vaxxinova, Zoetis, and Merck Animal Health. These companies offer a range of adjuvants for use in several types of vaccines, including those used in companion animals, livestock, and poultry. Factors such as increasing pet ownership and the growing demand for high-quality animal protein are expected to continue to drive the revenue growth of the veterinary vaccine adjuvant market in Europe during the forecast period.
Competitive Landscape of the Global Veterinary Vaccine Adjuvants Market
The prominent players operating in the global veterinary vaccine adjuvants market are:
The global veterinary vaccine adjuvants market is competitive and dominated by a small number of companies. Several of the main firms currently control most of the market in terms of shares. A few smaller competitors are expected to enter the market in the upcoming years due to the increasing prevalence of infectious illnesses in animals.
Strategic Developments in Veterinary Vaccine Adjuvants Market
The global veterinary vaccine adjuvants market is expected to grow at a revenue CAGR of 5.9% during the forecast period.
Bioveta AS, Evonik Industries AG, Merck & Co. Inc., Phibro Animal Health Corporation, and SEPPIC are a few key players in the global veterinary vaccine adjuvants market.
The alum and calcium salts segment accounts for the largest revenue share in the global veterinary vaccine adjuvants market.
Europe accounts for the second-largest revenue share in the global veterinary vaccine adjuvants market.
While adjuvants are considered safe, some people may be concerned about the potential side effects of these products. This can create reluctance among some pet owners and producers to use adjuvanted vaccines, limiting the market's revenue growth.
*Insights on financial performance are subject to the availability of information in the public domain