Global Porcine Vaccines Market Overview
Pigs are omnivores which live on a diet of meat and plants. These animals are farmed for food (bacon, pork, etc.) and skin. Porcine vaccines are drugs administered to swine to protect them against the gamut of diseases. Some of the vaccines are coated without gelatin in order to prevent the possibility of allergic reactions. The global porcine vaccines market report by Market Research Future (MRFR) encompasses a list of trends and opportunities backed by qualitative and quantitative analysis.
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The global porcine vaccines market is expected to touch a towering valuation by exhibiting 7.1% CAGR from 2018 to 2023 (forecast period). It stood at a value of USD 1,910 million in 2017. Rise in the cases of porcine epidemic diarrhea and other swine diseases is the primary driver of the market. Availability of swine vaccines for ensuring the health of pigs and hogs can bode well for the market. For instance, Zoetis was granted an approval by the U.S. Department of Agriculture (USDA) in 2014 for their vaccine for fighting porcine epidemic diarrhea virus (PEDv). Investment by biotechnology companies for developing formulation to counter new viruses can positively impact the market growth.
Government initiatives for encouraging animal husbandry combined with immense demand for pork and bacon is touted to drive the demand for vaccines. Large number of hog farms due to export of pig end products to Asia and other continents can bolster the market size. The high per capita meat consumption by countries in the European Union (EU) can facilitate the growth of the global porcine vaccines market. But high storage cost of these vaccines may hamper the market growth.
The global porcine vaccines market is segmented by type, disease indication, and end-user.
By type, it is segmented into toxoid vaccines, recombinant vaccines, conjugate vaccines, inactivated vaccines, DNA vaccines, and live attenuated vaccines.
By disease indication, it is segmented into porcine circovirus associated disease (PCVAD), porcine epidemic diarrhea (PED), swine influenza, porcine reproductive & respiratory syndrome (PRRS), Aujeszky’s disease (AD), and others.
By end-user, it is segmented into hog production farm and veterinary hospitals.
Europe, the Middle East & Africa (MEA), Asia Pacific (APAC), and the Americas are regions covered in the porcine vaccines market report.
The Americas are estimated to be the dominating region due to subsequent rise of pig farming and increasing cases of swine diseases. Increase in pig cultivation and contract farming in the U.S. is deemed to trigger the market demand by 2023. Expansion of production facilities in the U.S. due to rising export of pig products for consumption can positively impact the regional market growth. On the other hand, the Europe region can exhibit a remarkable CAGR during the forecast period due to high consumption rate of pork and other types of swine meat.
The APAC region is touted to grow at a robust velocity due to various initiatives by government agencies, development of new vaccines, and presence of numerous animal health companies. Outbreaks of African swine fever (ASF) and fears of pigs contracting the disease can propel the demand for porcine vaccines in the region. Recommendation by veterinarians for the prevention of the spread of the contagion among pig herds can fuel market demand. Lastly, the MEA region accounted for the lowest market share due to the slow boom experienced by the domestic animal husbandry sector and resistance from countries in the Middle East.
Bayer AG, PBS Animal Health, Ceva Sante Animale, Vetoquinol S.A., Merck & Co., Inc., Bimeda, Inc., Zoetis, Inc., Eli Lilly and Company, Sanofi S.A., Boehringer Ingelheim International GmbH, and Aptimmune are some of the reputed players in the global porcine vaccines market. Development of new products to expand offerings, acquisitions, and expansions are prime strategies of players in the market. Recently, Elanco Animal Health acquired Prevtec Microbia, a startup specializing in development of vaccines for animal health.
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