US animal vaccine market is estimated to grow at a CAGR of around 6.6% during the forecast period. Significant awareness to maintain the health of pets and increasing animal healthcare expenditure is primarily contributing to the growth of the market. As per the American Veterinary Medical Association (AVMA), dogs and cats are the two of the most commonly owned pets of the US household. 54.3% of cat-owning households and 82.8% of dog-owning households visit the veterinarian at least once a year. Moreover, spending on veterinary care increased by 6.1% to $18.1 billion in 2018.
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This highlights the fact that the population in the US is aware of pet health and the measures have been taken to improve pet health, which in turn, is boosting the growth of the market. In addition, the increasing adoption of companion pets in the country is further reinforcing the market growth. For instance, At the end of 2016, 38.4% of the US household owned a dog, which is increased by 10% from 2011. This, in turn, is offering significant opportunity for the growth of the US animal vaccine market.
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Some crucial players in the US animal vaccine market include Zoetis, Inc., Elanco, Merck & Co., Inc., Novartis International AG and United Vaccines, Inc. In order to survive in the market, these players are adopting crucial strategies, such as mergers and acquisitions, product launches, and partnerships and collaborations. This enables the company to increase its competitiveness and attract significant share in the market. For instance, in February 2017, the company expanded the K-9 Courage Program to reinforce American Humane initiatives for military dogs and service dogs that assist veterans. The Wags4Pateriot program is intended for veterans who suffer from Post-Traumatic Stress (PTS). Although, the Emergency Veterinary Grants is intended for military dog’s program. This enables to provide emergency treatment for retired military dogs.
Market Segmentation
By Type
- Porcine Vaccines
- Poultry Vaccines
- Livestock Vaccines
- Aquaculture Vaccines
- Companion Animal Vaccines
- Other Animal Vaccines
By Technology
- Live Attenuated Vaccine
- Killed/Inactive Vaccine
- Recombinant Vaccine
- Vectored Vaccine
- Subunit Vaccine
- DNA Vaccine
- Chimeric Vaccine
- Others
Company Profiles
- American Animal Health, Inc.
- Boehringer Ingelheim International GmbH
- Elanco
- Hygieia Biological Laboratories
- Merck & Co., Inc.
- Neogen Corp.
- Novartis International AG
- Phibro Animal Health Corp.
- United Vaccines, Inc.
- Zoetis, Inc.
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
