The newly released Global Swine Vaccine Market analysis report by Future Market Insights reveals that the global market for Swine Vaccine was held at around USD 1.5 Billion in 2021, and is projected to grow at a CAGR of 5.8% from 2022 to 2032. The market is expected to surge with an absolute dollar opportunity of USD 1.2 Billion. The projected market growth is expected to cross the historical CAGR of 4.9%.
The Inactivated Vaccines segment is likely to outpace all the other segments by growing at a CAGR of 5.9% from 2022 to 2032. Furthermore, Porcine Circovirus Type 2 was the top type segment in the global market. Revenue through this segment is expected to grow at a CAGR of 5.6% during the forecasted period.
| Attribute | Details |
|---|---|
| Global Swine Vaccines Market (2022) | USD 1.6 Billion |
| Global Swine Vaccines Market (2032) | USD 2.8 Billion |
| Global Swine Vaccines Market CAGR (2022 to 2032) | 5.8% |
| USA Swine Vaccines Market CAGR (2022 to 2032) | 6% |
| Key Companies Profiled | Merck Animal Health; Ceva; Zoetis; Boehringer Ingelheim GmbH; Elanco; Indian Immunologicals Ltd.; BiogénesisBagó; Phibro Animal Health; KM Biologics; HIPRA |
The global market for Swine Vaccines is likely to be driven by increased demand for animal protein and surged Research and Development expenditure for vaccine innovation. Swine production is vital to global food security, agricultural countries, and domestic and international trade.
Contagious diseases have a global impact on pig health, as well as the swine industry's stability and production. As a result, increased swine disease prevalence is expected to boost the market in the coming years. Furthermore, leading players' increasing efforts in developing improved products for better diagnostics are expected to drive market expansion.
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As per the Swine Vaccine Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Swine Vaccine increased at a CAGR of around 4.9%, while the USA held the majority share of over 35% in the global market.
The market is being driven by increased disease prevalence, increased demand for animal protein, and increased Research and Development expenditure for vaccine innovation. Owing to this, the market for Swine Vaccines is projected to grow at a CAGR of 5.8% during the forecasted period.
Some of the key factors driving the growth of the Swine Vaccine market are the rising prevalence of swine diseases like PPV, Porcine Reproductive and Respiratory Syndrome (PRRS), and Classical Swine Fever, which are likely to cause economic losses due to their negative effects on reproduction and growth in pig farms.
Swine meat is vital for agriculture-based countries and it considerably affects domestic and international trade. Contagious diseases have a global impact on pig health, as well as the swine industry's stability and production. As a result, the increased prevalence of swine disease is expected to boost the market in the coming years.
Putting in place a pig vaccination program helps in protecting them from infectious diseases at every stage of their development. As a result, businesses are concentrating on providing immunization services to assist farmers to manage bacteria and viruses more effectively.
The rise in demand for animal protein, along with rising consumer preferences for a low-fat, high-protein diet like pork has resulted in a significant increase in animal protein consumption around the world.
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APAC dominated the Swine Vaccine Market, where China led the regional demand. The consumption of beef and pork is higher in middle-income countries, particularly in Southeast Asia.
In addition, emerging infectious diseases in the region, such as swine fever, drive product demand even further. In India, CSF results in an annual loss of approximately 400 crores. As a result, the Indian government is placing a greater emphasis on the development of new vaccines. In October 2019, for example, the ICAR-Indian Veterinary Research Institute developed two diagnostic kits for Swine Control and Antigen Detection. These factors are leading to the expansion of the swine vaccine market in APAC.
The market for swine vaccines in the USA is expected to reach a valuation of USD 319 Million by 2032. With a CAGR of 6% during the forecast period, the market in the country is projected to gross an absolute dollar opportunity of USD 137 Million.
The market in the UK is projected to reach a valuation of USD 112 Million by 2032. Growing at a CAGR of 6.1% during the forecast period, the market is expected to garner an absolute dollar opportunity of around USD 48 Million.
In China, the market is projected to expand at a CAGR of 6.9% during 2022 to 2032. The market in the country is projected to reach USD 1.1 Billion by 2032, grossing an absolute dollar opportunity of USD 463 Million during the forecast period.
In Japan, the market is expected to reach a valuation of USD 224 Million by 2032. With a CAGR of 7.5%, the market in the country is expected to gross an absolute dollar opportunity of USD 96 Million by 2032.
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The market for Inactivated Vaccines is gaining the utmost traction and is expected to grow at a CAGR of 5.9% between 2022 and 2032. This increase in growth is attributable to easy availability, low cost, low risk of revert reaction of destroyed viruses, and fresh advances by key companies. For Example, PARVOVAX and PROGRESSIS vaccines were developed to fight against Porcine parvovirus and PRRS.
From 2022 to 2032, the recombinant vaccine category is projected to grow at the fastest rate. Because recombinants can carry many gene inserts, these vaccines are expected to aid in the vaccination of multiple viral strains.
Porcine Circovirus Type 2 is expected to dominate the global market and is expected to grow with a CAGR of 5.6% during the forecast period. PCV2 is the single-stranded DNA having the highest mutation and recombination rate among all single-stranded DNA viruses. It can be spread through an infected pig and is one of the most prevalent infectious agents affecting pig productivity. As a result, during the forecast period, it will contribute to a significant market share.
Some of the key competitors in the Swine Vaccine Market are Merck Animal Health, Ceva, Zoetis, Boehringer Ingelheim GmbH, Elanco, Indian Immunologicals Ltd., BiogénesisBagó, Phibro Animal Health, KM Biologics, and HIPRA.
Some of the recent developments in the Swine Vaccine Market are as follows:
Similarly, recent developments related to companies offering Swine Vaccine have been tracked by the team at Future Market Insights, which are available in the full report.
The Global Swine Vaccine Market is currently valued at USD 1.5 billion and is expected to reach a valuation of USD 1.6 billion by the end of 2022.
The Global Market for Swine Vaccine is expected to provide an Absolute Dollar Opportunity of USD 1.2 billion during the period between 2022 and 2032 by growing at a CAGR of 5.8%.
The Inactivated Vaccines segment is likely to maintain its dominance and is expected to grow at a CAGR of 5.9% during the forecast period. This growth is attributable to easy availability, low cost, low risk of revert reaction of destroyed viruses, and fresh advances by key companies.
The key players operating in the Swine Vaccine market are Merck Animal Health, Ceva, Zoetis, Boehringer Ingelheim GmbH, Elanco, Indian Immunologicals Ltd., BiogénesisBagó, Phibro Animal Health, KM Biologics, and HIPRA.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background and Foundation Data Points 5. Key Success Factors 6. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032 7. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 8.1. Swine Influenza 8.2. Classical Swine Fever 8.3. Porcine Parvovirus 8.4. Porcine Circovirus Type 2 8.5. M.Hyo 8.6. Actinobacillus Pleuropneumonia 8.7. Foot & Mouth Disease 8.8. Pseudorabies 8.9. PEDV 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product 9.1. Attenuated Live Vaccines 9.2. Inactivated Vaccines 9.3. Subunit Vaccines 9.4. DNA Vaccines 9.5. Recombinant Vaccines 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. Asia Pacific 10.5. Middle East and Africa (MEA) 11. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Key Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Market Structure Analysis 18. Competition Analysis 18.1. Merck Animal Health 18.2. Ceva 18.3. Zoetis 18.4. Boehringer Ingelheim GmbH 18.5. Elanco 18.6. Indian Immunologicals Ltd 18.7. BiogénesisBagó 18.8. Phibro Animal Health 18.9. KM Biologics 18.10. HIPRA 19. Assumptions and Acronyms Used 20. Research Methodology
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Swine Vaccine Market
