Veterinary Healthcare Industry Overview

Veterinary Pharmaceuticals Market Definition

The veterinary pharmaceuticals market consists of sales of veterinary pharmaceuticals by entities (organizations, sole traders, and partnerships) that manufacture veterinary pharmaceuticals (or drugs) used to sedate, treat animal diseases, and/or to improve animals’ performance and health. The veterinary pharmaceuticals industry includes establishments that manufacture veterinary pharmaceuticals such as veterinary vaccines, veterinary antibiotics, and other veterinary pharmaceuticals. The market by value in this report is defined as the revenues that enterprises gain from goods and/or services within the specified market and geography. It does not include revenues from resales either further along the supply chain or as part of other products. Only goods and services traded between entities or sold to end consumers are included. Whether specifically stated or not, the markets for goods include related services and the markets for services include related goods.

The animal growth promoters and performance enhancers market consists of sales of animal growth promoters and performance enhancers by entities (organizations, sole traders and partnerships) that manufacture animal growth promoters and performance enhancers. Animal growth promoters and performance enhancers help in the safety of animals from various microbial diseases and also help them to develop into strong and healthy adults. Only goods and services traded between entities or sold to end consumers are included. The animal growth promoters and performance enhancers market covered in this report is segmented by type into antibiotic growth promoters, non-antibiotic growth promoters and by animal type into poultry, swine, livestock, aquaculture, other animals. The global animal growth promoters and performance enhancers market is expected to grow from $12.41 billion in 2020 to $13.43 billion in 2021 at a compound annual growth rate (CAGR) of 8.2%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $18.28 billion in 2025 at a CAGR of 8%. The growing demand for meat is a significant factor that will drive the market of animal growth promoters and performance enhancers. Animal growth promoters make the animal accumulate fat and weight, occurring in more meat production and more expensive animal. Meat is a major protein source for many people around the world. According to a study by FAO in 2019, the production of meat has doubled in the 30 years from 1988 to 2018 and increased four-fold since the mid-1960s. The production and consumption of meat are expected to continue to grow. By 2050, global meat consumption is projected to reach between 460 million and 570 million tons by 2050. This is expected to drive the animal growth promoters and performance enhancers market. Strict rules set by the US and European governments on the use of animal growth promoters and performance enhancers are restricting the animal growth promoter and performance enhancers market. For instance, Zoetis, the largest producer of animal medicines, is banned from selling antibiotics that promote faster growth in animals, in the US and Europe. In 2017, the FDA announced a new regulation in the US, which banned the use of antibiotics as feed supplements to help livestock and poultry grow faster. These regulations are expected to negatively impact the growth of the market. Companies in the animal growth promoters and performance enhancers market are increasingly investing in phytogenics for higher efficiency of growth promoters through natural means. Phytogenics, sometimes also referred to as botanicals or phytobiotics, are plant-based feed additives utilized in animal nutrition. They are derived from herbs, spices, and extracts. Phytochemicals can be used in solid, dried, and ground form or as extracts, and also can be classified as essential oils and oleoresins depending on the process used to derive the active ingredients. The use of phytogenics promotes increased feed intake, improved gut function, prevention of diarrhea, and antimicrobial and antioxidative effects in livestock. Companies such as Delacon, Cargill, and BIOMIN have invested in phytogenics. In June 2020, Elanco acquired Bayer Animal Health for $7.6 billion. This acquisition is expected to help Elanco to expand their product profile expand their reach for medicines for pets and livestock. Bayer Animal Health is a division of Bayer HealthCare. Major players in the animal growth promoters and performance enhancers market are Merck Animal Health, Cargill, Royal DSM N.V., Vetoquinol S.A., Bupo Animal Health, Elanco Animal Health Inc., Alltech, Bayer Animal Health, Zoetis, and Bioniche Life Sciences. The regions covered in the animal growth promoters and performance enhancers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the animal growth promoters and performance enhancers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global animal growth promoters and performance enhancers market is segmented - 1) By Type: Antibiotic Growth Promoters, Non-Antibiotic Growth Promoters 2) By Animal Type: Poultry, Swine, Livestock, Aquaculture, Other Animals 3) By Nature of Chemicals: Microbial Products, Prebiotics and Probiotics, Yeast Products, Enzymes/Herbs, Oils and Spices

The veterinary imaging equipment market consists of sales of veterinary imaging equipment by entities (organizations, sole traders and partnerships) that produce veterinary diagnostic equipment used to obtain medical images of animals for diagnosis of various diseases. This industry includes establishments that produce diagnosis equipment such as radiography, X-ray, ultrasound imaging, MRI, CT imaging, endoscopy imaging, and other imaging equipment. These imaging systems are used for cardiology, orthopedics & traumatology, oncology, neurology, and others. The veterinary imaging equipment market covered in this report is segmented by type into radiography (X-ray) system, ultrasound imaging system, computed tomography imaging system, video endoscopy imaging system, magnetic resonance imaging system, others. The veterinary imaging equipment market is also segmented by end user into veterinary hospitals, veterinary clinics, academic and research organizations, others, by application into orthopedics and traumatology, oncology, cardiology, neurology, other; by animal type into small companion animals, large animals, others, and by modality into portable, stationery. The global veterinary imaging equipment market is expected to grow from $1.57 billion in 2020 to $1.69 billion in 2021 at a compound annual growth rate (CAGR) of 7.6%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global veterinary imaging equipment market is expected to reach $2.43 billion in 2025 at a CAGR of 10%. The rising livestock population is anticipated to boost the demand for veterinary imaging equipment. The surge in livestock population and associated diseases is expected to propel the demand for veterinary medical equipment including veterinary imaging equipment to diagnose and treat various diseases in animals. For instance, the global cattle or cow population increased from 984.53 million in 2017 to 989.03 million in 2019. Moreover, according to the Food and Agriculture Organization of the United Nations, the global cattle population is projected to increase to 2.6 billion by 2050 and the global population for goat and sheep is predicted to reach 2.7 billion by the end of 2050. Consequently, growth in the livestock population is expected to trigger the demand for veterinary imaging equipment in the forecast period. The high cost of veterinary imaging systems is expected to limit the growth of the veterinary imaging equipment market over the coming years. Veterinary imaging equipment is considered to be costly, which is likely to be a major challenge for veterinary hospitals and clinics. For instance, the veterinary digital radiography systems cost ranges between $25,000 and $50,000. The cost of ultrasound devices is estimated to range from $2,000 to $3,000 for small portable machines and large machines can range from $50,000 and more. In addition to this, the maintenance agreement cost is estimated to be around 15% of the purchase price. Therefore, the high cost of veterinary imaging equipment and associated maintenance cost is to act as a key factor to hinder the market’s growth. Key companies operating in the veterinary imaging equipment are focusing on the launch of portable or wireless devices to provide better solutions for effective veterinary technologies, which is projected to be a leading trend veterinary imaging equipment market. For instance, in October 2018, Diagnostic Imaging Systems, Inc. (DIS), a US-based manufacturer and supplier of imaging products, launched new Double Head Wireless Ultrasound Probe, an advanced product in digital imaging technologies for veterinary practice. The device transmits the images wirelessly to any tablet or computer running Apple iOS, Windows, or Android operating systems. In another instance, in November 2019, Butterfly Network, Inc., a US-based digital healthcare company, announced the launch of Butterfly iQ Vet, a new handheld ultrasound device with ultrasound-on-a-chip technology for the veterinary application. Butterfly iQ Vet provides better access to medical imaging and enables vets to make improved care decisions. In May 2018, BCF Technology, a company engaged in manufacturing veterinary ultrasound, merged with ECM (Echo Control Medical) to form a new imaging division - IMV Technologies Group. The merger aims to improve IMV Imaging's invention, provision, and development of animal diagnostic imaging equipment by delivering a wider portfolio of veterinary care products to improve animal care. ECM (Echo Control Medical) is a France-based company engaged in manufacturing medical equipment including urology, vascular examinations, abdominal treatment equipment, and veterinary imaging equipment. Major players in the global veterinary imaging equipment market are Agfa-Gevaert N.V., Canon Inc., Excelsior Union Limited, Fujifilm Holdings Corporation, Hitachi Ltd., Onex Corporation, Siemens AG, GE Healthcare, Chison, and IDEXX. The regions covered in the global veterinary imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the global veterinary imaging equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global veterinary imaging equipment market is segmented - 1) By Type: Radiography (X-Ray) System, Ultrasound Imaging System, Computed Tomography Imaging System, Video Endoscopy Imaging System, Magnetic Resonance Imaging System, Others 2) By End User: Veterinary Hospitals, Veterinary Clinics, Academic and Research Organizations, Others 3) By Application: Orthopedics And Traumatology, Oncology, Cardiology, Neurology, Others 4) By Animal Type: Small Companion Animals, Large Animals, Others 5) By Modality: Portable, Stationery

The medical feed additives market consists of sales of medical feed additives and related services in order to prepare complete food for animals. Medical feed additives help improve the nutritional content and quality of feed, results in better productivity, and prevents animals from diseases. Medical feed additives industry includes companies that produce animal feed additives such as vitamins and probiotic, preservatives, antioxidants, digestibility enhancers, gut flora stabilizers and others. The global medical feed additives market is expected to grow from $11.2 billion in 2020 to $13.3 billion in 2021 at a compound annual growth rate (CAGR) of 18.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.65 billion in 2025 at a CAGR of 5.8%. Increase in prevalence of diseases among animals is driving the growth of the medicated feed additives market According to the estimates from report by Animal and Plant Health Agency, a total of 3289 number of new TB herd incidents were detected in England. A new herd incident is a case of bovine TB that occurs as a result of a herd or individual animal test performed in an officially TB-free (OTF) herd during the study period. Bovine tuberculosis is a chronic disease which usually affects animals such as cattle, but it can affect all mammals causing illness, coughing and eventual death. Moreover, according to the reports the herd incidence rate in England for the 12 months to end September 2020 was 9.4.The additives help prevent animals from diseases alongside increasing the nutrition level of the feed thereby increasing demand for feed additives. The overuse and inappropriate use of antibiotics in medical feed additives impacts the health of individuals consuming the animal meat or other related products. Moreover, the health of the animal consuming the feed may also be adversely affected by the antibiotics added to the feed as the excess additive reduces the natural immunity of the animal and increases susceptibility of the livestock to infections. For instance, on July 1 2020, the Ministry of Agriculture and Rural Affairs in China, under Announcement No. 194 banned the production of commercial feed with medicated feed additives (excluding traditional Chinese medicine) for growth promoting purposes The negative effects of additives on human health caused due to overuse of feed additives in animals will restrain the growth of the market. Companies in the medical feed additives market are introducing new feed medicated additives formed as a result of combination of two or more medicated feed additives. More than 70% of manufacturers are now using more than one feed additive in animal feed to increase the efficiency of the product. For instance, Zoetis, a global health company got the approval for its Cyden and Lincomix combination feed additive from the FDA (Food and Drug Administration) and is proposed to be used as medicated feed additive for poultry. Also, FDA approved combination of Zoetis’ feed additives ACTOGAIN 45 (ractopamine hydrochloride) and ENGAIN (ractopamine hydrochloride) that makes more lean muscle and less fat while optimizing feed efficiency. The medical feed additives market is regulated by government agencies which lay down regulations to be followed by all the manufacturers of veterinary medicines. For instance, the Veterinary Medicines Regulations (VMR) 2013 makes provision for the authorization, manufacturing and classification of veterinary products including medicated feed additives. The Schedule 5 under EU guidelines covers medicated feeding stuffs and specified feed additives which specifies guidance to both manufactures and suppliers of veterinary medicines for incorporating it into animal feed as well as to veterinary surgeons, animal keepers and other members involved in the use of veterinary medicines and SFAs(Specified Feed Additives)in animal feeding stuffs. In February 2019, Archer Daniels Midland Company (ADM), an American global food processing and commodities trading company acquired Neovia for $1.74 billion (€1.544 billion). This acquisition helps ADM to become a global leader in animal nutrition products and services with Neovia adding a wide range of products to the former company’s portfolio including pet care, additives, aquaculture, and livestock feed which would in turn boost the growth of the company. Neovia is headquartered in France was established in 1954 and manufactures and distributes various biologically degradable disinfectants along with feed additives for plants and animals. Major players in the market are Zoetis Inc., Cargill, CHS Inc., Purina Animal Nutrition (Land O' Lakes) and Archer Daniels Midland Company. The countries covered in the global medical feed additives market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global medical feed additives market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global medical feed additives market is segmented - 1) By Type: Antioxidants, Antibiotics, Probiotics & prebiotics, Enzymes, Amino acids 2) By Livestock: Ruminants, Poultry, Swine, Aquaculture 3) By Mixture Type: Supplements, Concentrates, Premix Feeds, Base Mixes 4) By Class type: Type A, Type B, Type C

The veterinary anesthesia equipment market consists of sales of veterinary anesthesia equipment and related services. Veterinary anesthesia equipment is used to deliver anesthetic agents into patients' bodies to prevent the pain or discomfort during surgical procedures. The global veterinary anesthesia equipment market is expected to grow from $0.57 billion in 2020 to $0.67 billion in 2021 at a compound annual growth rate (CAGR) of 17.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.88 billion in 2025 at a CAGR of 7.1%. Rising prevalence of oral diseases in dogs and cats is driving the market for veterinary anesthesia equipment used during oral examinations. Diagnosis and treatment of oral diseases, dental cleaning requires pet animals to be under general anesthesia as it is difficult to handle animals when they are awake and conscious. According to the American Veterinary Dental College, periodontal disease is the most common clinical condition occurring in adult dogs and cats. Thus, rising prevalence of oral diseases in pet animals is increasing the demand for veterinary anesthesia equipment driving market growth. The high prices of veterinary anesthetic equipment is acting as a restraint on the market. It is expensive for small veterinary hospitals and clinics to buy and maintain anesthesia equipment, thereby limiting market penetration. High price of the equipment can be attributed to advanced technology used in the equipment. Manufacturers of veterinary anesthesia equipment are introducing products with advanced features to provide safe and reliable treatment. The new products being introduced offer solutions to problems like power failure, battery failure or exhaustion and failure of electronic components. Companies such as DRE veterinary and Supera have been investing in introducing anesthetic machines with safety features. Manufacturers of veterinary anesthesia equipment are required to adhere to stringent regulations set by various regulatory bodies. For instance, the US Food and Drug Administration’s (FDA) Center for Veterinary Medicine (CVM) regulates the market for veterinary devices in the USA. The FDA issues guidelines with respect to manufacturing, procuring, packaging, branding, selling and usage of medical devices. Also, the FDA encourages veterinarians and pet owners to report defects in veterinary medical equipment. Major players in the market are JD medical, Midmark Corporation, Smiths medical, Mindray Medical and Kent Scientific. The countries covered in the global veterinary anesthesia equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global veterinary anesthesia equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global veterinary anesthesia equipment market is segmented - 1) By Type: Standalone Anaesthesia Machines, Portable Anaesthesia Machines 2) By End User: Veterinary Hospitals, veterinary Clinics, Emergency Service Centres, Veterinary Homecare Settings 3) By Animal Type: Small, Large

The veterinary patient monitoring equipment market consists of sale of veterinary patient monitoring equipment which are used to monitor animal's respiration, blood pressure, and other vital signs. Veterinary patient monitoring equipment are used to monitor the animals to detect diseases at early stages to prevent any risks. Veterinary patient monitoring equipment industry includes companies that manufacture monitoring devices to detect diseases which affect animals The global veterinary patient monitoring equipment market is expected to grow from $0.33 billion in 2020 to $0.38 billion in 2021 at a compound annual growth rate (CAGR) of 15.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.46 billion in 2025 at a CAGR of 4.9%. Increase in the prevalence rate of diseases among animals serves as one of the major drivers for the veterinary patient monitoring equipment market. Increase in the incidence of diseases in livestock and companion animals will require monitoring equipment to diagnose the diseases among animals. For instance, according to the Banfield Pet Hospital's 2020 Veterinary Emerging Topics (VET) Report, more than 50% of the dogs at 1,000 hospitals in 2019 were overweight or obese. Overweight pets are more likely to suffer from joint disease, respiratory disease, and other preventable conditions. The increase in prevalence rate of diseases for animals results in increases demand for enhanced veterinary patient monitoring equipment. The veterinary patient monitoring equipment is highly expensive. The price of an equipment will be the significant expense for a veterinary clinic or hospital. For instance, price of average wearable devices ranges from $50 to $100 and will likely have a recurring software as a service (SaaS) fee to store & retrieve an animal’s health data analytics. These expenses hinder the growth of the veterinary patient monitoring equipment market. Veterinarians and pet or cattle owners are shifting to wearable technology to keep track of the animal behavior. Wearable technology are smart electronic devices that are worn on the body or integrated in the clothing or accessories and monitor body temperature, behavior and movement. These wearable monitoring devices provide timely insights regarding the overall health of the animal and help veterinarian to provide appropriate diagnosis to the animal. For instance, Vetrax, a wearable sensor worn on a dog’s collar, enables clinicians and pet owners to monitor aspects of an animal’s behavior when they are unsupervised. According to a report by Veterinary Practice News, 83% of pet owners are satisfied with the use of wearable technology and 68% are finding it an effective way of monitoring weight and diabetes of their pets. The veterinary patient monitoring equipment market is regulated by government agencies such as European Medicines Agency (EMA), USFDA (the US food and drug ministration), and others. EMA should certify the medical devices before they are marketed. EMA verifies the safety and quality of the devices before they can be certified and approved for use throughout the European Union. The EMA requires all the devices to comply with the regulations stated under Directive 2001/82/EC and Regulation (EC) No 726/2004. American pharmaceutical company Merck & Co. headquartered at New Jersey, acquired Antelliq in April 2019 for $2.4 billion. Antelliq will now work in Merck's animal health division. This acquisition marks the beginning of the trend for pharmaceutical companies to give equal importance to their veterinary devices as well as their human healthcare equipment. Antelliq, a company in the field of animal identification and monitoring will not only re-establish and widely improve Merck's reach in the veterinary monitoring devices market but it will also enhance the quality of the devices. Antelliq is an American company established in 2013 and is headquartered in Dallas, Texas. Major players in the market are Smiths Group plc, Hallowell Engineering & Manufacturing Corporation, DRE Veterinary, Digicare Biomedical Technology Inc. and Midmark Corporation. The countries covered in the global veterinary patient monitoring equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global veterinary patient monitoring equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global veterinary patient monitoring equipment market is segmented - 1) By Product: Cardiac Monitoring Devices, Respiratory Monitoring Devices, Remote Patient Monitoring Devices, Multi-Parameter Monitoring Devices, Neuromonitoring Devices, Others 2) By End User: Veterinary Hospitals, Veterinary Clinics, Veterinary Research Centers 3) By Animal: Small Companion Animals, Large Companion Animals, Wild Animals, Zoo Animals, Aquatic Animals, Exotic Animals

The veterinary diagnostic equipment market consists of sales of veterinary diagnostic equipment and related services. Veterinary diagnostic equipment assists the veterinary practitioners in determining and identifying various disorders in animals. Veterinary diagnostic equipment industry includes companies that manufacture diagnostic equipment such as clinical thermometers, diagnostic lights, X-ray equipment, and certain diagnostic test kits. The global veterinary diagnostic equipment market is expected to grow from $0.74 billion in 2020 to $0.88 billion in 2021 at a compound annual growth rate (CAGR) of 18.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.13 billion in 2025 at a CAGR of 6.5%. Increase in the prevalence rate of diseases among animals serves as one of the major drivers of the veterinary diagnostic equipment market. Due to increase in the incidence of diseases in livestock and pets, the demand for enhanced diagnostic equipment increases. For instance, according to the Banfield Pet Hospital's 2020 Veterinary Emerging Topics (VET) Report, more than 50% of the dogs at 1,000 hospitals in 2019 were overweight or obese. Overweight pets are more likely to suffer from joint disease, respiratory disease, and other preventable conditions. The increase in prevalence rate of diseases in animals, results in increase in demand for diagnostic equipment, driving the veterinary diagnostic equipment market. The veterinary diagnostic equipment is highly expensive. The price of an equipment will be the significant expense for a veterinary clinic or hospital. To run a test center with blood testing machines, physiological monitors such as ECGs, anesthetic monitors etc., diagnostic imaging technology such as x-rays, ultrasound and MRI scanners, is highly capital intensive. Some kind of veterinary diagnostic equipment may be available on a budget, but with less precise diagnoses and thus less efficient treatments with less beneficial results. The high price of equipment hinders the growth of the veterinary diagnostic equipment market. Veterinary diagnostic equipment manufacturers are introducing advanced technologies such as advance blood micro sampling techniques to enable enhanced precision, patient-centered specimen collection and diagnosis of diseases in animals. Blood micro sampling is a technique that allows the participants to draw blood samples from their livestock and companion animals with ease. The samples are then forwarded to labs for further diagnosis. This technique is an extension to dry blood sampling, which is a method of collecting blood. For instance, Neoteryx launched the '3Rs-compliant Mitra' micro sampling device that works on the principle of micro sampling. The device uses Neoteryx's trademark Volumetric Absorptive Micro Sampling (VAMS) technology to facilitate more convenient and accurate remote sampling. Other companies investing in the trend of micro sampling includes Diatron with its Diatron aquila hematology analyzer. The US Food and Drug Administration (FDA) defines regulations for veterinary diagnosis equipment and can take appropriate action if a veterinary equipment is found misbranded or adulterated. The conditions for misbranding a diagnostic equipment is listed under title 21 and set by the Food and Drugs administration (FDA). For instance, as per the regulations under title 21, U.S code 352(f)(1), any veterinary medical equipment is considered misbranded if the labelling on the equipment is indefinite or unclear. Whereas, 21 U.S.C. 352(j) states that a veterinary medical equipment is considered misbranded if it is dangerous to the animal even when it is used in the manner recommended, or suggested as per the label. In May 2018, Zoetis Inc., US-based leading animal health company which discovers, develops, manufactures and markets veterinary vaccines and medicines, acquired Abaxis, Inc. for $2.0 Billion. With this acquisition Zoetis enhances its presence in the veterinary diagnostics market by utilizing the already established global network of Abaxis and increasing its revenue. This deal will help Zoetis achieve their goal of establishing sale of devices to more than 100 countries by using Abaxis's well-established diagnostic instruments and consumables. Abaxis, Inc. is a US-based firm that holds a strong product portfolio with various veterinary diagnostic instruments and kits. Major players in the market are IDEXX Laboratories, ABAXIS, HESKA Corporation, Zoetis and Virbac. The countries covered in the global veterinary diagnostic equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global veterinary diagnostic equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global veterinary diagnostic equipment market is segmented - 1) By Product: Hematology, Immunodiagnostics, Clinical Chemistry, Molecular Testing 2) By End Users: Hospitals & Clinics, Reference Laboratories, Universities/Research Centers, Point-of-Care/In-House Testing 3) By Animal: Livestock Cattle, Domestic Pets

The veterinary vaccines market consists of sales of vaccines and related services which are used for the treatment and prevention of diseases in animals. These veterinary vaccines reduce animal suffering and transmission of microorganisms in the animal population. Veterinary vaccines are used to enhance the immunity power of animals by improving the animal health, which also prevents transmission of diseases from animals to humans. Veterinary vaccines industry includes entities that produce veterinary vaccines like livestock vaccines and companion animal vaccines. The global veterinary vaccines market is expected to grow from $7 billion in 2020 to $7.73 billion in 2021 at a compound annual growth rate (CAGR) of 10.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $10.18 billion in 2025 at a CAGR of 7.1%. The increase in the number of animals suffering from range of diseases is increasing the demand for vaccines to prevent and treat such diseases, thus driving the veterinary vaccines market According to the estimates from report by Animal and Plant Health Agency, a total of 3289 number of new TB herd incidents were detected in England Bovine tuberculosis is a chronic disease that usually affects animals such as cattle, but it can affect all mammals causing a general state of illness, coughing and eventually lead to death. However, the disease can be treated with specific antibiotics that kills the TB bacteria. This rising prevalence of diseases in animals is expected to drive the veterinary vaccines market during the forecast period. High storage costs are acting as a major restraint for the growth of the veterinary vaccine market. Improper storage conditions and delay in the shipping can cause vaccines to lose their desired immune properties. For example, during transportation, vaccines can undergo biodegradation, if they are not transported within the required temperature limits. Thus, special care is required for the transportation of the vaccines in order to maintain the efficiency of the vaccines, which increases the storage and transportation cost for the vaccines. According to report published by National Institute of Standards and Technology (NIST), approximately 35% of vaccines lost their potencies during the shipment, as they were stored at abnormal temperatures. Thus, high storage costs for vaccines are expected to result in additional costs for manufacturing companies and limit the growth of the market. Companies in the veterinary vaccines market are increasingly looking for strategic partnerships and collaborations to enter into new geographies and to share the Research & Development projects. For example, in 2020, the Pirbright Institute, a UK based animal disease research institute, partnered with ECO Animal Health, a UK based Pharmaceutical company, and the Vaccine Group (TVG) to develop porcine respiratory and reproductive syndrome virus (PRRSV) vaccines. The vaccine group is a biotechnology company that develops animal vaccines and is based in Plymouth, UK Similarly, MSD Animal Health, a division of Merck & Co with headquarters in the US, made a strategic partnership with Vinovo. This partnership will help MSD Animal Health to combine its unique broad vaccine product line and Vinovo’s vaccine delivery system to vaccination process, thus improving bird welfare, and reducing vaccine reactions. Also,Wageningen bio veterinary research made a strategic alliance Ceva with headquarters in Switzerland, to improve their Research on the global threat of emerging and reemerging diseases for animals. The veterinary vaccines market is regulated by authorities such as European Medical Agency and the US Center for Veterinary Biologics. For instance, veterinary vaccine companies in Europe are required to adhere to European technical requirements mentioned in Annex 1, Title II, to Directive 2001/82/EC, as amended by Directive 2009/9/EC, and the European Pharmacopoeia (Ph. Eur.). According to these regulations, veterinary vaccines are required to undergo safety test before getting the approval, where vaccines are classified into activated vaccines and inactivated Vaccines. In activated vaccines, each batch of vaccines should have a dose that is double the standard dose. In inactivated vaccines, each batch of vaccines should be ten times the standard dose for the active vaccines. Activated vaccines are usually tested by in vitro titration, while serological tests are commonly used for inactivated vaccines. Major players in the market are Boehringer Ingelheim GmbH, Merck Animal Health, Zoetis Inc., Eli Lilly and Company, and Bayer AG (Bayer Animal Health). The countries covered in the global veterinary vaccines market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia. The regions covered in the global veterinary vaccines market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The global veterinary vaccines market is segmented - 1) By Application: Livestock Vaccines, Companion Animal Vaccines 2) By Vaccine Type: Live Attenuated Vaccines, Inactivated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Others 3) By Disease Type: Anaplasmosis, Canine Parvovirus, Foot & Mouth Disease, Newcastle Disease, Distemper Disease, Influenza, Porcine Reproductive & Respiratory Syndrome (PRRS)