June 25, 2024

The Global Swine Fever Vaccine Market Is Driven By Increasing Outbreaks Of African Swine Fever

The swine fever vaccine helps prevent African swine fever virus in pigs which is a highly contagious hemorrhagic viral disease affecting domestic and wild pigs. It is characterized by fever, loss of appetite, hemorrhages on the skin and internal organs. The vaccine provides active immunity against African swine fever virus and helps reduces the risk of disease outbreaks in pig farms. The global market for swine fever vaccines has witnessed significant growth due to rising incidences of African swine fever outbreaks across various countries. African swine fever was first detected in Russia in 2007 and since then it has spread to many European and Asian countries. Several outbreaks in China which is the world’s largest pork producer have heightened demand for effective swine fever vaccines.

The global Swine Fever Vaccine Market is estimated to be valued at Us$ 3,323.81 Bn in 2024 and is expected to exhibit a CAGR Of 11.% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the swine fever vaccine market is the development of novel vaccines with improved efficacy. Several vaccine manufacturers are focusing on research and development of new recombinant and marker vaccines that can differentiate infected from vaccinated animals. These vaccines help overcome limitations of conventional modified live vaccines. For example, in 2019 Pirbright Institute developed an improved DIVA (Differentiating Infected from Vaccinated Animals) marker vaccine against African swine fever virus. It uses a deleted viral gene to allow differentiation and supports disease control through monitoring and trade. Similarly, many companies are engaged in developing new vaccine candidates using antiviral drug targets, viral genes etc to make vaccines more effective against emerging viral strains. This is anticipated to drive growth of the global swine fever vaccine market during the forecast period.

 

Porter’s Analysis

Threat of new entrants: Low. Swine fever vaccine market requires high R&D investments and stringent regulations making it difficult for new players to enter.

Bargaining power of buyers: Moderate. Buyers have some bargaining power due to availability of substitute vaccines but are dependent on suppliers for consistent supply.

Bargaining power of suppliers: High. Suppliers have unique intellectual property and ingredients adding complexity in vaccine manufacturing giving them an edge.

Threat of new substitutes: Low. No close substitute available for swine fever vaccine currently.

Competitive rivalry: High. Key players compete on technical superiority, pricing and regional expansion to gain higher market share.

Key Takeaways

The Global Swine Fever Vaccine Market Demand is expected to witness high growth.

 

Regional analysis:

 

The Asia Pacific region currently has the highest share in the global swine fever vaccine market mainly due to high incidence of swine fever outbreaks in major pork producing nations like China and India. Government support for vaccination is also driving market growth. Europe and North America are other major regional markets.

Key players:

 

Key players operating in the swine fever vaccine market are dbWatch AS, eG Innovations, Heroix Corporation, Nagios Enterprises, LLC, Paessler AG, Quest Software Inc., Red Gate Software Ltd., Sematext Group, SolarWinds Worldwide, LLC, and VirtualMetric. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

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