June 14, 2024
Global Canine Influenza Vaccine Market 1

Companion Animal Healthcare Trends Drive Global Canine Influenza Vaccine Market

The global canine influenza vaccine market consists of vaccines that provide immunity against canine influenza virus. Canine influenza, also known as dog flu, is a highly contagious respiratory disease in dogs caused by an influenza A virus.

The first outbreak in the United States occurred in 2004. Global Canine Influenza Vaccine Market Size play a crucial role in controlling and preventing the spread of the virus among dogs by triggering the immune system to produce antibodies that recognize and fight the virus. Common signs of canine influenza include coughing, sneezing, nasal discharge, high fever and lethargy. Vaccines are targeted towards pet dogs exposed regularly to other animals to reduce their risk of infection.

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

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.

Growing pet adoption and awareness among pet owners regarding canine influenza has increased the demand for vaccines in the market. According to the American Pet Products Association, around 85 million dog owners in the United States spend billions annually on pet healthcare and wellness products.

Leading manufacturers are focusing on geographical expansion through collaborations with regional animal healthcare providers to strengthen their presence in emerging Asian, Latin American and African markets. In November 2021, Zoetis expanded its presence in Mexico by opening a new vaccine production facility to aid local veterinarians and producers.

Market Key Trends

Combination vaccines against Global Canine Influenza Vaccine Market Size and other respiratory diseases are gaining traction in the market. Vaccines combining protection against canine influenza virus type A and parainfluenza are useful for dogs at high risk of exposure. In 2020, Zoetis received approval from the USDA for its first combination canine

influenza and parainfluenza vaccine. This single dose offers cost-saving and convenience advantages over separate influenza and parainfluenza vaccines. Growing demand for such combination products is a key trend in the global canine influenza vaccine market.

Porter’s Analysis

Threat of new entrants: New companies find it difficult to establish due to high capital investment and established brand loyalty of customers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes and differentiation in brands.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitutes and differentiation in production technologies.
Threat of new substitutes: Threat from substitutes is low as canine influenza vaccine has few substitutes with similar health benefits.
Competitive rivalry: Intense competition exists between major players to gain higher market share through product differentiation and expansion into new markets.

The global canine influenza vaccine market is concentrated in North America and Europe. North America holds the largest share due to increasing pet adoption and growing awareness regarding animal health in the region. Europe is the second largest market due to rising cases of canine influenza in countries like the UK and Italy.

The Asia Pacific region is expected to be the fastest growing market for canine influenza vaccine during the forecast period. This is attributed to factors such as growing pet care expenditure, increasing number of vet clinics and rising awareness about animal health in developing countries like India and China. Rapid urbanization and improving economic conditions in these countries are further expected to support the growth of the regional market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it