June 14, 2024
Global Canine Influenza Vaccine Market

The Global Canine Influenza Vaccine Market is Poised to Exhibit Substantial Growth Due to Rising Pet Ownership Trends by 2024

The global canine influenza vaccine market comprises vaccines that help prevent canine influenza virus infections in dogs. Canine influenza virus causes respiratory disease in dogs and spreads through direct nose-to-nose contact and aerosols from coughs and sneezes. The vaccines available in the market effectively boost the immunity of dogs against the influenza virus. They provide reliable protection against both subtypes of equine-like influenza H3N8 and H3N2.

The Global Canine Influenza Vaccine Market is estimated to be valued at US$ 2,562.1 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Global Canine Influenza Vaccine Market Size are Zoetis Services LLC, Merck & Co., Inc., Covetrus, CSL Limited, Boehringer Ingelheim Animal Health USA Inc., and Elanco. Zoetis Services LLC leads the market with its recombinant canine influenza vaccine Flu-Rend.

The rising trend of pet ownership, particularly of dogs, globally is fueling the demand for canine influenza vaccines. As per recent statistics, around 84.6 million dogs are owned as pets in the United States alone. This growing dog population is vulnerable to contracting canine influenza virus infections, driving the demand for effective preventive vaccines.

The major players in the market are expanding their geographic presence through strategic collaborations with regional veterinary clinics and distributors. For instance, in 2022 Boehringer Ingelheim Animal Health entered into a distribution agreement with LABIOFAM veterinary pharmaceutical laboratory to expand vaccine access in Latin American countries including Brazil, Colombia and Peru. This will allow more pet owners access to licensed canine influenza vaccines and help control the spread of the disease globally.

Market Key Trends

One of the key trends gaining traction in the Global Canine Influenza Vaccine Market is the development of quadrivalent vaccines that provide protection against four strains of influenza virus including currently circulating H3N8 and H3N2 viruses as well as emerging influenza strains. In 2023, Zoetis launched its new quadrivalent Fluquad Dog Flu vaccine that provides broad protection for pets. This innovative vaccine formulation helps stay ahead of antigenic drift exhibited by influenza viruses over time and ensures pets remain protected against new virus variants as well.

Porter’s Analysis

Threat of new entrants: Pharmaceutical firms face high costs to enter the vaccine market due to stringent regulatory requirements and R&D investment needs.
Bargaining power of buyers: Buyers have moderate bargaining power as individual veterinary clinics have a small market share and purchase vaccines based on need rather than bulk.
Bargaining power of suppliers: Suppliers have moderate bargaining power as they provide core materials and manufacturing capabilities to license vaccines.
Threat of new substitutes: Few therapeutic substitutes exist for vaccines in preventing infectious diseases in canines.
Competitive rivalry: Firms compete on vaccine efficacy, regulatory approvals, production scale, and marketing to veterinarians.

Geographical Regions

North America currently accounts for the largest share of the global canine influenza vaccine market, valued at over US$ 1 Bn in 2024 due to growing pet ownership and vaccination compliance in the region.
The Asia Pacific region is poised to grow at the fastest pace till 2031 as rising animal health expenditure and increasing awareness among pet owners lead to higher vaccine adoption, particularly in India and China.

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