May 23, 2024

Propelled By Increasing Disease Outbreaks In Livestock The Global Porcine Vaccines Market Is Estimated To Be Valued At US$ 2.4 Bn In 2023

The global porcine vaccines market is estimated to be valued at US$ 2.4 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Porcine vaccines are biological preparations meant for protecting swine against infectious diseases and pathogens. They offer immunization against different viral, bacterial, and parasitic infections that plague livestock rearing including swine fever, classical swine fever, mycoplasma, rotavirus, pneumonia etc. With the ever-increasing prevalence of contagious diseases in swine breeding, the demand for effective vaccination is on the rise.

Market key trends:

Increasing disease outbreaks in livestock is a major factor driving the growth of the global porcine vaccines market over the forecast period. The crowded and unsanitary farm conditions promote the rapid spread of infectious diseases among livestock. The rising threat of transboundary animal diseases has necessitated preventive vaccination programs globally. Key diseases impacting the swine industry include porcine reproductive and respiratory syndrome (PRRS), swine influenza, and swine fever. According to statistics, China reported over 1 million cases of African swine fever in 2019. To curtail losses due to outbreaks, farmers are increasingly vaccinating their swine herds. This is augmenting the demand for innovative porcine vaccines during the forecast period.
SWOT Analysis

Strength: Porcine vaccines have a wide range of applications for protecting pigs against various disease conditions like porcine reproductive and respiratory syndrome (PRRS), foot-and-mouth disease (FMD), swine flu, Classical swine fever etc.
Weakness: Porcine vaccines have limited production capacity currently, to meet the rising demand worldwide. Development of new generation vaccines also requires huge investments.
Opportunity: Growing demand for pork meat and need to control livestock diseases and viruses in various countries presents major opportunities.
Threats: Threat from alternative animal disease control methods and emergence of new viral strains can impact market revenues. Stringent regulatory norms also increase compliance costs.

Key Takeaways

The global porcine vaccines market is expected to witness high growth at a CAGR of 5.2% during the forecast period of 2023 to 2030. Diseases like PRRS have led to substantial economic losses worldwide, driving increased adoption of vaccinations.

Regional analysis: North America is currently dominating the porcine vaccines market owing to growing pork meat consumption and prevalence of porcine epidemic diarrhea virus (PEDV) infections. However, Asia Pacific is expected to grow at the fastest pace due to increasing demand from China, India and other developing countries in the region.

Key players: Key players operating in the porcine vaccines market are Boehringer Ingelheim International GmbH. (Germany), FORMOSA BIOMEDICAL INC. (Taiwan), Zoetis (U.S.), Dechra Pharmaceuticals PLC (U.K.), Hester Biosciences Limited. (India), Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Elanco (U.S.), Phibro Animal Health Corporation (U.S.), HIPRA, S.A (Spain), Bimeda, Inc (Ireland), Ceva (France), ARKO Laboratories (U.S.). Major players are focusing on new vaccine launches and geographical expansions to strengthen their market position.

*Note:

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