by The global Porcine Vaccines Market is estimated to be valued at US$ 1.91 billion in 2022 and is expected to exhibit a CAGR of 7.50% over the forecast period 2023-2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
Porcine vaccines are specifically developed to prevent and control diseases in pigs. These vaccines play a crucial role in maintaining the health and productivity of swine populations. The market offers various vaccines, including inactivated vaccines, live attenuated vaccines, toxoid vaccines, and others, to effectively protect pigs against diseases such as swine influenza, porcine circovirus-associated diseases, and porcine reproductive and respiratory syndrome.
B) Market Dynamics:
The porcine vaccines market is driven by two key factors. Firstly, the increasing prevalence of swine diseases is leading to a growing demand for effective vaccines. Swine diseases can cause significant economic losses to pig farmers. Vaccination programs help prevent and control the spread of diseases, ensuring the health and productivity of swine populations. For instance, porcine reproductive and respiratory syndrome (PRRS) is a highly contagious viral disease that affects pigs, causing significant reproductive failure and respiratory problems. Vaccines, such as Ingelvac PRRS MLV and Fostera PRRS, have been developed to combat this disease
Secondly, the rising demand for animal protein, driven by the growing global population and changing dietary preferences, is fueling the demand for porcine vaccines. Vaccines play a vital role in maintaining the health and well-being of pigs, ensuring their optimal growth and productivity. This, in turn, meets the increasing demand for pork and other pig-derived products.
C) SWOT Analysis:
– Strength: Growing adoption of advanced biotechnology for vaccine development, Increasing investments in research and development.
– Weakness: Challenges in vaccine distribution and storage in remote areas, Stringent regulatory requirements for vaccine approval.
– Opportunity: Emergence of novel vaccines targeting multiple diseases, Growing awareness about animal health and welfare.
– Threats: Outbreak of new and highly infectious swine diseases, Competition from alternative protein sources.
D) Key Takeaways:
– The global Porcine Vaccines Market is expected to witness high growth, exhibiting a CAGR of 7.50% over the forecast period, due to increasing prevalence of swine diseases and the growing demand for animal protein.
– North America is anticipated to dominate the market, accounting for the largest share, owing to the presence of key market players, well-established pork industry, and favorable government initiatives.
– The key players operating in the global porcine vaccines market include Bayer AG, Bimeda Animal Health, Boehringer Ingelheim GmbH, Ceva Sante Animale, Eli Lilly and Company, Merck & Co., Inc., Sanofi S.A, Vetoquinol, and Zoetis, Inc. These companies focus on strategic collaborations, product launches, and acquisitions to expand their market presence and gain a competitive edge.
The global porcine vaccines market is poised for significant growth due to the increasing prevalence of swine diseases and the rising demand for animal protein. With the development of advanced vaccines and the adoption of biotechnology in research and development, the market is expected to witness innovative solutions for disease prevention and control in the swine industry.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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