by 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Porcine vaccines are used for prevention of various diseases in pigs such as swine dysentery, porcine epidemic diarrhea, salmonella, porcine parvovirus, M.hyo, leptospirosis, etc. These vaccines provide immunization against major infectious diseases affecting swine industry.
Market key trends:
Development of recombinant vaccine technologies is one of the major trends witnessed in the global porcine vaccines market. Recombinant vaccines allow production of tailor-made vaccines focusing on specific antigens providing enhanced efficacy and safety. For instance, vaccines produced using recombinant technology focus only on immunogenic parts of pathogens eliminating toxic or not very immunogenic parts. This reduces side effects associated with conventional vaccines and improves safety profile.
SWOT Analysis:
- Strength: The porcine vaccines market has a well-established supply chain with robust distribution networks. Rising awareness regarding the benefits of vaccination and preventive healthcare for pigs is driving the market growth.
- Weakness: High R&D costs associated with developing new vaccines and regulations regarding safety and efficacy of vaccines increases the overall costs.
- Opportunity: Growing demand for pork and pork-derived products is prompting farmers and breeders to adopt preventive healthcare measures like vaccination of pigs. Untapped markets in developing regions present lucrative growth opportunities.
- Threats: Threats from alternate treatment options and stringent regulations can hamper the market revenue. Increased trade barriers and regional price variations are major challenges.
Key Takeaways:
The Global Porcine Vaccines Market Demand is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing demand for pork and associated prevention of diseases. The market size for 2023 is US$ 2.4 Bn.
Regional analysis:
Europe dominates the porcine vaccines market owing to stringent regulations and increasing pork production in countries like Germany, Spain, France etc. Asia Pacific exhibits the fastest growth led by China and India on account rapid industrialization of pig farms and rising meat consumption in the region.
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), and Ceva (France).
*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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