by The global swine fever vaccine market comprises live attenuated swine fever vaccines and inactivated swine fever vaccines. Swine fever, also known as hog cholera, is a contagious viral disease of swine that is characterized by high fever, weakness, loss of appetite, and abortion in sows. Vaccines help in preventing the spread of swine fever among pigs by activating their immune system to recognize and combat the virus if exposed. The live attenuated swine fever vaccine induces long-lasting immunity and is most commonly used, while the inactivated vaccine provides short-term protection.
The global swine fever vaccine market is estimated to be valued at US$ 2885.25 in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The market is driven by growing livestock industries in developing nations and rising research and development activities for new and more effective swine fever vaccines. The global spread of the African swine fever virus has further increased the demand for swine fever vaccines.
Market Dynamics
Rising Research and Development Activities: Growing prevalence of swine fever outbreaks worldwide is prompting key market players to invest significantly in research and development of new and more effective swine fever vaccines. They are focusing on developing genetically engineered swine fever vaccines with capabilities to provide cross-protection against multiple viral strains. Big pharmaceutical companies are also investing in development of thermostable vaccines that don’t require cold chain infrastructure for transportation and storage. These extensive R&D activities are estimated to boost demand for swine fever vaccines over the forecast period.
Growing Spread of African Swine Fever Virus: African swine fever virus has rapidly spread across China, Eastern Europe, and other parts of Asia since 2018. It has caused immense economic losses by killing millions of pigs. Containing the further spread of the disease is a major priority of governments worldwide. This has significantly driven the adoption of swine fever vaccines in recent years. Rising threat of new virus outbreaks is expected to further drive their demand during the forecast period.
Segment Analysis
The swine fever vaccine market is segmented into type and region. Based on type, the market is segmented into classical swine fever vaccines and African swine fever vaccines. The African swine fever vaccines segment dominated the market in 2023 and is expected to continue its dominance over the forecast period. This is owing to increasing cases of African swine fever among swines in Asia Pacific and Europe.
PEST Analysis
Political: Supportive government policies and regulations for controlling infectious animal diseases favors market growth. Subsidies provided by various governments for vaccination of livestock supports farmers.
Economic: Increasing meat consumption globally is a major growth driver. Growing demand for pork in China and Asia Pacific countries boosts vaccine usage. Losses incurred due to swine fever outbreaks compel farmers to vaccinate swines.
Social: Rising awareness about benefits of vaccination and food safety concerns increase adoption of swine fever vaccines.
Technological: Advancements in vaccine production technologies aid manufacturers develop more effective vaccines. Recombinant and live-attenuated vaccines witness increasing commercialization.
Key Takeaways
The Global Swine Fever Vaccine Market Trend is expected to witness high growth at a CAGR of 5.9% during the forecast period of 2023 to 2030. Regional analysis: Asia Pacific dominates the market and is expected to grow at the fastest rate during the forecast period. Countries like China, Vietnam and India have huge swine populations and are major producers as well as consumers of pork, which drives high vaccine adoption. Key players: Merck & Co., Inc. (Merck Animal Health), Ceva, Zoetis Services LLC, Boehringer Ingelheim International GmbH, Indian Immunologicals Ltd., Bioveta, a.s., Komipharm, and EC21 Inc. are some of the key players operating in the swine fever vaccine market. Merck Animal Health and Ceva accounted for over 35% share of the global market in 2023.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
