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The global porcine vaccines market consists of vaccines that are administered to pig, swine, or hog to prevent various communicable diseases like swine influenza, porcine reproductive and respiratory syndrome (PRRS), foot-and-mouth disease, amongst others. Porcine vaccines prevent economic losses to farmers from major viral and bacterial infections by immunizing the animal from getting infected. Growing pig farming for consumption of pork meat has made the livestock vulnerable to various contagious diseases. This has augmented the demand for effective and safe pig vaccines over the years.
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 key trends:
One of the major trends in the porcine vaccines market is the improvement in vaccine delivery technologies. Earlier conventional adjuvants like mineral oils were used in pig vaccines. However, these adjuvants had several side effects. Now newer adjuvants and delivery technologies are being incorporated to enhance vaccine efficacy. Water-in-oil-in-water adjuvanted and single-dose vaccines are becoming popular. Also, recombinant DNA technology is being applied to develop genetically engineered vaccines that can provide immunity against multiple pathogens simultaneously. This not only saves on costs but also reduces stress to pigs from reduced needle pricks. Ongoing research efforts to develop thermostable porcine vaccines that do not require cold chain storage is another noticeable trend, especially in warm tropical countries where pig rearing is common. This will help expand vaccine access to remote areas with unreliable electricity supply as well.
Porter’s Analysis
Threat of new entrants: The threat is low as it requires huge capital investments and strong R&D capabilities needed for porcine vaccines. Bargaining power of buyers: Buyers have high bargaining power as they can easily switch from one manufacturer to other due to availability of many porcine vaccine manufacturers. Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power due to availability of substitutes. Threat of new substitutes: Threat is moderate since new alternative vaccines and other preventive measures are continuously being introduced. Competitive rivalry: Competition is high among major players like Boehringer Ingelheim, Zoetis, etc due high volume sales and patented technologies.
Key Takeaways
The global porcine vaccines market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis – North America dominates the market owing to increasing porcine population and livestock farms in countries like USA and Canada. Europe is expected to grow at a faster pace during the forecast period. Asia Pacific is expected to witness highest growth rate due to surge in pork consumption and expanding livestock farming industry in China and India.
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.). Key players are focusing on new product launches and strategic collaborations to strengthen their market presence.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
