by The global canine influenza vaccine market is witnessing steady growth due to growing prevalence of canine influenza among dogs worldwide. Canine influenza is a respiratory disease caused by influenza viruses that infect dogs. Symptoms include coughing, nasal discharge, fever and lethargy. Vaccines help prevent infection by activating the dog’s immune system to recognize and fight off the virus.
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 2024-2031.
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. Key players are focused on developing novel canine influenza vaccines to expand their market share.
The pet dog population worldwide is driving the adoption of Global Canine Influenza Vaccine Market Growth. According to recent estimates, there are over 300 million pet dogs globally. With rising pet ownership, preventive healthcare spends on dogs is increasing steadily.
Geographically, North America dominated the market in 2024, owing to higher awareness levels regarding pet health. However, Asia Pacific is expected to grow at fastest pace during the forecast period due to improving veterinary infrastructure and services in emerging countries. Several key players are also expanding their presence in Asia to tap the potential opportunities.
Market Key Trends
The rising millennial pet ownership is a major trend boosting the Global Canine Influenza Vaccine Market Size and Trends. According to surveys, over 50% of new pet adoptions are done by millennials. This generation is more concerned about dog health and wellness. They spend more on preventive vaccines and routine checkups to ensure their pets lead healthy and happy lives. This growing focus on pet preventive care bodes well for the canine influenza vaccine market during the forecast period.
Porter’s Analysis
Threat of new entrants: New companies face high costs of research and development to produce canine influenza vaccines.
Bargaining power of buyers: Buyers have low bargaining power due to lack of substitute products and necessity of vaccinations.
Bargaining power of suppliers: Suppliers have moderate bargaining power as a few large companies supply the required vaccine production materials.
Threat of new substitutes: No viable substitutes currently exist for vaccination in preventing canine influenza.
Competitive rivalry: Competition is high among leading players to gain greater market share through new product launches and geographic expansions.
Geographical Regions
North America accounted for the largest share of the global canine influenza vaccine market in 2024, mainly driven by rising pet healthcare expenditure and increasing number of veterinary practitioners in countries like the U.S. and Canada.
Asia Pacific is expected to grow at the fastest rate during the forecast period, owing to growth in adoption of pets, rising awareness about animal health, and improving veterinary infrastructure across countries like India, China, and Japan. There is increasing focus of leading players on tapping opportunities in emerging Asia Pacific markets.
The Asia Pacific region is projected to witness the highest CAGR during the forecast period. This is attributed to factors such as increasing pet adoption, growing pet healthcare expenditure, and improving veterinary infrastructure across major Asian countries such as India and China. Leading manufacturers are expanding their presence in Asia Pacific to leverage high market growth opportunities. Growing economy and awareness about animal welfare and disease prevention will further facilitate the market expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya
Ravina Pandya,Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. LinkedIn
