Swine Vaccines Market
Number of pages: 100 | Report Format: PDF | Published date: March 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 1.45 billion |
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Revenue Forecast in 2031 |
US$ 2.28 billion |
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CAGR |
5.2% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Vaccine Type, Disease Type, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global swine vaccines market was valued at US$ 1.45 billion in 2022 and is expected to register a revenue CAGR of 5.2% to reach US$ 2.28 billion by 2031.
Swine Vaccines Market Fundamentals
Production of pigs is crucial for local and international trade, agricultural nations, and food security worldwide. Contagious illnesses impact the stability, productivity, and health of the global pig population. Therefore, the swine vaccines market is expected to be driven by increased illnesses in pigs. Most pig farms globally are affected by the reproductive illness porcine parvovirus (PPV). Porcine Reproductive and Respiratory Syndrome (PRRS) is still a very common disease in pig farms, causing both clinical sickness and economic losses due to its negative impact on growth and reproduction. Foot and mouth disease, classical swine fever, porcine circovirus type 2 (PCV2), and PPV continue to be exceedingly common diseases in pig farms that cause financial losses.
The use of swine vaccines is crucial for the prevention and management of illnesses in pigs. Swine vaccines help prevent disease by encouraging the pig’s immune system to create antibodies that can recognize and combat specific disease-causing bacteria. Swine vaccines are readily available for several illnesses, including classical swine fever, foot and mouth disease, porcine parvovirus, porcine reproductive, respiratory syndrome, porcine circovirus-associated disease, and tapeworm infection.
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Swine Vaccines Market Dynamics
The increased swine disease outbreaks and zoonoses, together with the widespread adoption of antibiotic-free disease prevention techniques, are the main drivers contributing to the revenue growth of the global swine vaccines market. PRRS and swine influenza are extremely common among swine herds in Asia, Europe, and America, causing significant economic damage. Hence, swine producers widely employ biosecurity procedures and immunization techniques to reduce the impact. Customers increasingly demand cutting-edge, quick, safe, and effective vaccines due to the rising number of swine disease outbreaks recorded in important swine-raising nations. According to the OIE, African swine fever caused 9,928 outbreaks in Asian swine herds and 4,721 incidents in Europe between 2016 and 2020.
Government agencies and companies from the pharmaceutical industry are constantly introducing new vaccines to address this serious swine health issue. In June 2022, Vietnam announced the production of the African swine fever (ASF) vaccine to be distributed among the country's swine farms. Also, organizations are introducing various cutting-edge vaccine technologies and solutions, boosting the global swine vaccines market revenue growth. For instance, Boehringer Ingelheim received approval from the EMA in October 2019 for ReprocycParvoFLEX, the first subunit PPV vaccine to guard against transplacental infection in swine fetuses. Veterinary colleges also prioritize providing immunization services to assist small-scale swine farmers with disease prevention strategies.
However, the global swine vaccines market faces several challenges restraining its growth. One major challenge is the need for more awareness among farmers about the importance of vaccination. Moreover, the high cost of vaccines, which makes it difficult for small farmers to afford them, and a shortage of skilled veterinarians to administer vaccines and guide vaccination programs are restraining market revenue growth.
Swine Vaccines Market Ecosystem
The global swine vaccines market has been analyzed from three perspectives: vaccine type, disease type, and region.
Swine Vaccines Market by Vaccine Type
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Based on the vaccine type, the global swine vaccines market has been segmented into attenuated vaccines, inactivated vaccines, recombinant vaccines, and others.
The inactivated vaccines segment accounted for the largest revenue share of the global swine vaccines market. The immunity ratio in inactivated vaccines can be improved by using adjuvants or other chemicals, such as specific oil or aluminum hydroxide types. Moreover, these vaccinations include modified toxins designed to elicit an immunological response in pigs. The inactivated swine flu vaccines CIRCOVAC, PARVOVAX, and PROGRESSIS from Ceva are a few examples for purchase. Numerous research trials are now being conducted to determine how well-inactivated vaccinations protect against various swine diseases. For instance, according to information provided by the National Library of Medicine in March 2022, Currently, a research study is underway to evaluate the effectiveness of a vaccine for inactivated Senecavirus A, also known as SVA, which causes vesicular illness in pigs. Thus, such research and development activities are projected to accelerate the segment’s growth during the projection period. Also, one of the key elements promoting the segment’s growth is the several benefits inactivated vaccines have over conventional vaccinations. Compared to live attenuated vaccinations, inactivated vaccines offer a higher level of protection against disease and have a lower likelihood of reversal. Moreover, persons with immunity issues may benefit from receiving inactivated vaccinations. Since that inactivated vaccines may be freeze-dried, they are far more portable than other vaccines. Inactivated vaccines are far more convenient for shipment and storage, benefiting producers. The considerations above predict that the inactivated vaccines segment will expand significantly over the projection period.
The recombinant vaccine segment is projected to register the fastest revenue growth rate in the global swine vaccines market. Given that recombinants can carry many gene inserts, these vaccines are believed to aid in providing vaccination against various viral strains. Recombinant swine vaccine Ingelvac CircoFLEX from Boehringer Ingelheim International GmbH offers active immunization for pigs older than two weeks. Such vaccine formulations can assist in reducing the requirement for adjuvants while enhancing stability and viability.
Swine Vaccines Market by Disease Type
Based on disease type, the global swine vaccines market has been segmented into PRRS (Porcine Reproductive and Respiratory Syndrome), porcine parvovirus, swine influenza, classical swine fever, and others.
The PRRS (Porcine Reproductive and Respiratory Syndrome) segment accounts for the largest revenue share in the global swine vaccines market. This is due to the widespread occurrence of PRRS in key swine-raising nations. This disease is common and prevalent in several nations, including the United States and select Asian countries. In China, the world’s largest swine industry, the disease has been declared an epidemic for over 20 years. The viral genome exhibits significant variability due to RNA transcription’s intrinsic mistakes. Thus, managing the diversity of isolates, even within a single nation, is difficult.
The others segment is projected to register the fastest revenue CAGR during the forecast period due to the rise in the prevalence of various swine diseases, including porcine parvovirus, Glasser’s disease, and newborn diarrhea. Their increasing frequency in swine herds of developing economies is responsible for the segment’s growth. Some disease outbreaks, such as erysipelas, occur in acute and chronic forms or sequences, causing enormous economic loss. Various vaccines are available for each type of swine disease to prevent farm outbreaks.
Swine Vaccines Market by Region
Based on region, the global swine vaccines market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Asia Pacific accounts for the maximum revenue share in the swine vaccines market. The presence of major pork-producing nations, such as China, a sizable meat-eating population, and a widespread need for vaccines to stop the growing disease outbreaks among Asian swine farms are important factors in this significant revenue share. Moreover, Asia had the most pigs—462.6 million—in 2021, with China having the most—around 347 million pigs. Also, it was estimated that China would consume 43,843 thousand tons of pork in 2021.
The swine vaccines market in Latin America, North America, and Europe is anticipated to experience considerable growth throughout the forecast period due to the growing swine population, widespread usage of biosecurity measures, and routine vaccination. The first incidence of swine fever in North America was only recently reported. The International Organization for Animal Health reported that Haiti experienced its first deadly African swine fever virus epidemic in 37 years in September 2021. The region’s development is ascribed to a well-established veterinary healthcare infrastructure, expanding demand for animal protein, and rising spending on animal health. The U.S. and Canada are economies that have developed clearly defined healthcare systems and major market participants. For instance, Pharmgate Animal Health introduced PRRSGard, a modified-live vaccine, in the United States in September 2020. Recombinant chimeric vaccination in a 1.0-milliliter single dose is suggested for swine respiratory and reproductive illness. Ongoing product introductions in the region are projected to fuel economic growth in the nation. One of the main factors driving the growth of the North America market is an increase in the usage of swine vaccines due to the highly organized farming infrastructure in the United States. The USDA’s National Institute of Food and Agriculture (NIFA) awarded Cornell University US$ 642,000 in March 2022 to help the university create swine influenza vaccines.
Swine Vaccines Market Competitive Landscape
The prominent players operating in the global swine vaccines market are:
The market is defined by fierce competition and the presence of numerous small- and large-sized companies. To increase their market penetration, these businesses are engaging in strategies such as new product launches, geographical expansions, joint ventures, mergers, and acquisitions.
Swine Vaccines Market Strategic Developments
The global swine vaccines market is expected to register a revenue CAGR of 5.2% during the forecast period from 2023 to 2031.
Asia Pacific accounts for the largest revenue share in the global swine vaccines market.
Boehringer Ingelheim International GmbH, Ceva, Merck & Co., Inc., Zoetis, and KM Biologics are among the key players in the global swine vaccines market.
The increase in the incidence of illnesses in swine, the rise in demand for animal protein, and improvements in vaccination services are some of the major factors propelling the revenue growth of the global swine vaccines market.
*Insights on financial performance are subject to the availability of information in the public domain