PUBLISHER: The Business Research Company | PRODUCT CODE: 1425857
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425857
Swine Vaccines Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on swine vaccines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for swine vaccines? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The swine vaccines market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Swine vaccines are formulations administered to pigs to stimulate their immune system against specific infectious agents.
The primary types of swine vaccines include attenuated live vaccines, inactivated vaccines, subunit vaccines, DNA vaccines, and recombinant vaccines. Attenuated live vaccines consist of weakened living viruses or bacteria that have been altered to reduce their pathogenicity. These vaccines aim to trigger a robust immune response in pigs by replicating within the body, leading to prolonged immunity. They are effective against various diseases including viral, bacterial, parasitic, and fungal infections. Swine vaccines are distributed through veterinary hospitals, veterinary pharmacies, and online pharmacies. These products are available through government tenders and sales in the market.
The swine vaccines market research report is one of a series of new reports from The Business Research Company that provides swine vaccines market statistics, including swine vaccines industry global market size, regional shares, competitors with a swine vaccines market share, detailed swine vaccines market segments, market trends and opportunities, and any further data you may need to thrive in the swine vaccines industry. This swine vaccines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The swine vaccines market size has grown strongly in recent years. It will grow from $2.01 billion in 2023 to $2.20 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth observed during the historical period can be attributed to several factors, including disease outbreaks that affected swine populations, resulting in significant economic losses within the industry. Additionally, government regulations aimed at managing and controlling these outbreaks also influenced growth, alongside an overall increase in swine production.
The swine vaccines market size is expected to see strong growth in the next few years. It will grow to $3.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. Anticipated growth in the forecast period can be linked to several key factors, including the emergence of new diseases and viral strains affecting swine, the increasing globalization of the swine industry, changes in climate and environmental conditions, the implementation of stringent biosecurity measures, and intensified market competition within the industry. Key trends expected in the forecast period encompass advancements in veterinary science, shifts in disease patterns, a global surge in demand for protein sources, ongoing technological advancements in the field, and a heightened focus on preventive healthcare strategies for swine.
The escalating incidence of diseases in swine is anticipated to drive growth in the swine vaccine market. Swine diseases, characterized by deviations from normal structural or functional conditions and exhibiting signs such as pseudorabies and influenza, necessitate the use of vaccines to protect pigs from infectious diseases. As of August 2022, the World Organization for Animal Health (WAHIS) reported that over 1,125,000 pigs and 36,000 wild boars had been affected by African Swine Fever (ASF) since January 2020, resulting in more than 1,960,000 animal losses. This surge in swine diseases is expected to be a significant driver for the market.
The increasing global consumption of pork is poised to propel the swine vaccine market forward. Pork consumption, involving the preparation and consumption of various pork products derived from pigs, is a significant factor driving the demand for swine vaccines. Ensuring the well-being of pig populations is critical for reducing the likelihood of disease outbreaks and securing the production of safe and high-quality pork globally. As of March 2023, pork constituted approximately 36% of the global meat consumption, totaling 112.6 kilotons, with projections indicating growth to 129 kilotons by 2031. This surge in pork consumption is a key driver for the swine vaccine market.
Technological advancements emerge as a prominent trend in the swine vaccine market, with major players focusing on innovative solutions. These efforts aim to deliver dual vaccines simultaneously, enhancing swine health and maintaining a competitive edge. In May 2022, Boehringer Ingelheim, a Germany-based pharmaceutical company, introduced the TwistPak technology. This groundbreaking platform blends two vaccines, IngelvacCircoFLEX and IngelvacMycoFLEX, providing swine producers with a convenient and time-efficient solution. TwistPak simplifies the mixing process while offering flexibility for use as a combined vaccine or a monovalent, showcasing advanced manufacturing technologies and ergonomic design.
Prominent companies in the swine vaccine market are intensifying their efforts to introduce innovative vaccines like Circumvent CML, aiming to secure a competitive advantage. Circumvent CML is a specialized vaccine crafted to safeguard swine herds against diseases, thereby enhancing overall swine health and productivity. In June 2023, Merck Animal Health, a US-based pharmaceutical company, unveiled Circumvent CML, a new 3-in-one swine vaccine. This vaccine targets diseases such as Porcine Circovirus Type 2a (PCV-2a), Porcine Circovirus Type 2d (PCV-2d), Mycoplasma hyopneumoniae, and Lawsonia intracellularis. Leveraging Merck's proven antigens and adjuvant systems, which have a successful track record in products like Circumvent PCV-M G2 and Porcilis Ileitis, this innovative vaccine reinforces the company's commitment to advancing swine health.
In September 2021, Vaxxinova, a Germany-based livestock vaccine producer, completed the acquisition of Newport Laboratories from Boehringer Ingelheim, the details of which remained undisclosed. This strategic move positions Vaxxinova to enhance its portfolio of goods and services for livestock farmers and veterinarians. Newport Laboratories, a US-based company, specializes in manufacturing custom-made vaccines for swine and cattle. The acquisition is anticipated to contribute to Vaxxinova's ongoing efforts to innovate and elevate its offerings in the field of livestock vaccines.
Major companies operating in the swine vaccines market report are Merck & Co Inc., Boehringer Ingelheim Animal Health USA Inc., Elanco Animal Health Inc., Biogenesis Bago SA, Phibro Animal Health Corporation, KM Biologics Co. Ltd., Hipra Laboratories SA, Ceva Sante Animale SA, Zoetis Inc., Jinyu Bio-Technology Co. Ltd., China Animal Husbandry Industry Co. Ltd., Virbac SA, Harbin Veterinary Research Institute, Bioveta AS, Bimeda Holdings PLC, Biovac Ltd., Heska Corporation, Hester Biosciences Limited, Hygieia Biological Laboratories, IDT Biologika GmbH, Inovio Pharmaceuticals Inc., Intervet Inc., Komipharm International Co. Ltd., Kyoritsu Seiyaku Corporation, Laboratorios Hipra SA, Lohmann Animal Health International, Nexvet Biopharma PLC, Norbrook Laboratories Limited, Ouro Fino Saude Animal SA, Prondil SA, Vaxxinova International BV, Vetoquinol SA, Veyx Pharma GmbH, Tianjin Ringpu Bio-Technology Co. Ltd.
North America was the largest region in the swine vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the swine vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the swine vaccines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The swine vaccine market consists of sales of haemophilus parasuis, pasteurella, salmonella, and streptococcus suis. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.