Rising Epidemics Drive Steady Growth in Global Canine Influenza Vaccine Market

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Global CanineInfluenza Vaccine Market

Canine influenza, also known as dog flu, is a highly contagious respiratory disease caused by influenza A and B viruses that affect canines. Canine influenza vaccine (CIV) is the only effective method of preventing canine influenza. It provides active immunity against canine influenza virus strains H3N8 and H3N2. The growing awareness regarding protecting pet health and increasing outbreaks of dog flu are inducing more pet owners to vaccinate their dogs against canine influenza.

The Global Canine Influenza Vaccine Market is estimated to be valued at US$ 1,805.7 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031.

Key Takeaways

The rising number of Global Canine Influenza Vaccine Market Size outbreaks globally presents lucrative growth opportunities for vaccine manufacturers. Some of the major opportunity areas include developing countries in Asia Pacific and Latin America. These regions have a sizeable population of owned dogs but lack appropriate vaccination programs. Expanding distribution networks and licensing agreements with regional animal health players can help global manufacturers tap into these high growth regional markets.

Key players operating in the global canine influenza vaccine market are Zoetis Services LLC, Merck Co., Inc., Covetrus, CSL Limited, Boehringer Ingelheim Animal Health USA Inc., and Elanco. Zoetis Services LLC is the market leader with its vaccine called Reconvac, which offers protection against both H3N8 and H3N2 strains of canine influenza virus. The market is witnessing increasing collaborations and partnerships betweenmanufacturers and animal health companies to boost production capabilities and geographical presence. For instance, in May 2022, Zoetis Services LLC acquired certain veterinary products from Covetrus to strengthen its product portfolio.

Key players are focusing on global expansion through acquisitions and construction of new production facilities. For instance, in 2021, Merck Co., Inc. invested $115 million to expand its animal health vaccine manufacturing campus in Pennsylvania to boost production of pet vaccines including its canine influenza vaccine. Such initiatives allow companies to increase global vaccine supplies and meet rising demand from international markets.

Market Drivers and Restrain

The key driver for the global canine influenza vaccine market is growing awareness among pet owners regarding regular vaccination of dogs. As more pet owners recognize the importance of promoting canine health through vaccinations, the market is witnessing increased demand for effective vaccines like CIV. Protecting dogs also helps limit the spread of the disease to other animals and humans. Initiatives by animal welfare organizations to educate people on dog vaccination are positively impacting the market.

The high costs associated with vaccine production put constraints on expansion plans of market players. Developing effective vaccines against influenza viruses requires extensive research and testing. This makes influenza vaccines more expensive than other routine dog vaccines. The price sensitivity of pet owners in certain markets makes it difficult for companies to hike vaccine prices substantially and achieve profitability. Stringent regulatory norms for approval of new influenza virus strains also delay market entry of innovative products. These factors have a restraining effect on the overall industry growth potential.

Segment Analysis
This market is divided into two primary segments based on type: Killed Vaccine and Live Attenuated Vaccines. The killed vaccine segment dominates the market currently, accounting for approximately two-third of total revenue. This is because killed vaccines are unable to cause infection but can provide protection from the disease. They have minimal risk and are commonly used for annual vaccination of at-risk dogs.

Within the killed vaccine segment, the combination product sub-segment leads the space. These vaccines protect against both H3N8 and H3N2 strains of canine influenza virus which are commercially available. Their ability to provide protection against the two dominant flu virus strains driving the current outbreak makes them the preferred choice by veterinarians.

Global Analysis
North America holds the largest share in the global canine influenza vaccine market currently. This is attributed to factors such as increasing pet adoption, rising pet healthcare expenditure, and high awareness about vaccines in the region. Within North America, the United States represents the dominant market, aided by comprehensive guidelines for annual vaccination of at-risk dogs by regulatory authorities.

Asia Pacific is predicted to witness the highest growth over the forecast period. This is due to growing pet population, increasing per capita animal healthcare spending, and rising incidence of canine influenza cases in countries like China and South Korea. Heightened diagnostic capabilities and widespread availability of combination vaccines are boosting market growth in these emerging Asia Pacific economies.

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