A Break Point of Animal Vaccine

The global demand for animal vaccines has been expanding in recent years due to some factors of the way of animal feeding, the condition of infection and the increasingly updated vaccine products. It increased from 6.4 billion USD in 2011 to 10.6 billion USD in 2016, with a CAGR of 11 percent. After 2000, China has taken measures in animal supervision and compulsory immunization against animal diseases, which drives the domestic development of the animal vaccine industry whose sales volume has increased rapidly from 143 million USD in 2000 to 829 billion USD in 2009, with a CAGR of 20 percent. By 2019, the animal vaccine market in China has reached 3.8 billion USD which is expected to be 4.9 billion USD in 2023.

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The improvement of the living standards in China promotes the rapid development of the breeding industry, which is beneficial to develop the animal vaccine industry. In recent years, the number of large-scale breeding farms in China has been growing rapidly with an opposite growth of the small-scale. The larger the farm scale, the more important the animal epidemic prevention is. According to the report, the market scale of veterinary drugs in China reached 6.9 billion USD in 2017, with chemical drugs accounting for about 72 percent and biological products for about 28 percent.

Swine Vaccine Accounts for the Largest Proportion

Pork is an important part of the diet culture in China, whose consumption accounts for the largest proportion. In 2018, domestic pork consumption reached 55.4 million tons, accounting for about 61.9 percent of the total meat consumption in China, followed by poultry and beef. Thus, the vaccines against it occupy the first place in many other vaccines. In 2017, China's market sales of veterinary biological products reached 13.364 billion, of which 39.39% were pig seedlings. In 2019, the swine vaccine industry was deeply affected by African swine fever, and the total annual revenue of it was 1.5 billion USD, down 4 percent compared with a year earlier.

Animal Vaccine Industry is Expected to Rebound

The animal vaccine market which was depressed for the industry cycle and African swine fever is expected to benefit from the gradual recovery of upstream pig stocks. The marginal improvement of upstream stocks will drive the prosperity of animal vaccines, which is estimated that the market scale will reach 1.9 billion USD in 2020.

A New Opportunity of FMD Vaccine

The expansion of breeding scale and the overall development of animal vaccines promote the development of FMD vaccine industry. FMD is an acute, hot and highly infectious disease to pigs, cattle and sheep, and other wild hoofed animals. In recent years, the number of FMD cases in China was 62 ranging from 2011 and 2017, including 23 cases in 2013, which can be found that the prevention and control of FMD is an unavoidable topic in aquaculture. The increase of sow stock is expected to be the surge point of FMD vaccine market.

FMD is one of the diseases that the government forces to immunize, which is the single product with the largest volume and the fastest growth of market scale in animal vaccines. In 2016, the market scale of FMD vaccine in China was about 543 million USD, with 286 million USD recruited by the government. We believe that the market vaccine of FMD will maintain a high-speed growth under the rapid development of large-scale breeding and the subsidy policy.

There are 8 enterprises approved to produce FMD vaccine in China, including Shenlian, Jinyu, and China animal husbandry and others. Since the introduction of FMD high-end vaccine in 2009, with such star products, the leader in FMD market has achieved leapfrog development, with a CAGR of 28.50 percent between 2012 and 2017. Shenlian has obtained the new veterinary medicine certificate of new vaccine with the leading production and R & D advantages in the field of synthetic peptide vaccine of FMD.

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