by The porcine vaccines market is estimated to be valued at US$ 2.4 Bn or in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Porcine vaccines are used to prevent various diseases in pigs such as foot-and-mouth disease, swine erysipelas, porcine parvovirus, and pseudorabies. The commonly used vaccines protect pig health and welfare, supports sustainable pork production by controlling infectious diseases. The porcine vaccines also help reduce the antibiotic usage. Vaccines helps boost the immunity of pigs naturally without any side effects.
Market Dynamics:
The porcine vaccines market is primarily driven by growing adoption of preventive healthcare measures for livestock. Prevention is considered better than cure, thus farmers and pork producers are increasingly vaccinating pigs to protect them from infectious diseases. This reduces incidences of infection outbreaks and promotes overall pig wellbeing. Moreover, stringent food safety regulations regarding pork products in many countries mandate vaccination of pigs against major diseases. This is positively impacting the demand for porcine vaccines. Furthermore, rising global pork consumption has led to increased focus on sustainable pork production with proper disease control, which requires effective vaccination programs. This is anticipated to fuel the porcine vaccines market growth over the forecast period.
Segment Analysis:
The porcine vaccines market is dominated by the Live Attenuated Vaccines segment. Live attenuated vaccines are preferred over inactivated vaccines for swine flu and other viral diseases as they elicit strong protective immunity in pigs which is similar to natural infection and help confer lifelong immunity. Live attenuated vaccines mimic a natural infection and lead to long-term immunity by stimulating both humoral and cell-mediated immune response in pigs. Key manufacturers are focusing on innovative live attenuated vaccines such as H1N1, PRRS, and PED vaccine which are core vaccines for piggery farms.
PEST Analysis:
- Political: Stringent regulations regarding animal health and vaccine usage across regions will drive the porcine vaccines market. Some regions have made vaccination mandatory to eradicate pig diseases.
- Economic: Rising meat consumption globally is increasing the demand for pork and hence commercial pig farming is growing rapidly which is propelling the need for porcine vaccines market.
- Social: Concerns regarding food safety and meat quality is prompting farmers to adopt preventive vaccination programs which is a major trend in the market.
- Technological: Key players are focusing on the development of thermostable and cold-chain free vaccines using advanced adjuvants and delivery technologies to increase the accessibility of vaccines in tropical regions.
Key Takeaways:
The Global Porcine Vaccines Market Growth is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing pork consumption globally. The market size for Porcine Vaccines Market is estimated to reach US$ 2.4 Bn by 2023.
Regional analysis: Asia Pacific region dominates the porcine vaccines market and is expected to grow at the fastest rate during the forecast period. This is attributed to the increasing pork consumption in major pork producing nations including China, Vietnam, and India. China represents around half of the global pork production.
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.). The major players are focusing on new product launches and regional expansion 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
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. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
