SAN FRANCISCO, Jan. 11, 2022 /PRNewswire/ -- The global swine vaccines market size is expected to reach USD 2.09 billion by 2028, registering a CAGR of 4.9% from 2021 to 2028, according to a new report by Grand View Research, Inc. Increasing prevalence of diseases, a surge in the demand for animal protein, and growth in R&D expenditure for vaccines innovation are driving the market growth. Porcine Parvovirus (PPV), Porcine Reproductive and Respiratory Syndrome (PRRS), Porcine circovirus type 2 (PCV2), Foot & Mouth Disease, Classical Swine Fever, and others remain to be extremely prevalent diseases in pig farms affecting economic losses.
Key Insights & Findings from the report:
- The inactivated vaccines segment dominated the market in 2020 owing to its easy availability and low cost over others
- A recombinant vaccine is expected to register the fastest CAGR over the forecast period owing to the benefits, such as enhanced effectiveness, technology advancement, and increased long-standing prevention
- The Porcine circovirus type 2 segment dominated the market in 2020 due to the increased prevalence of the disease. Moreover, this is the quickly mutating of all single-stranded DNA (ssDNA) viruses, therefore it has a great mutation and recombination rate
- Asia Pacific is expected to register the fastest CAGR over the forecast period due to the growing cases of infectious diseases in swine, increasing awareness about animal health, rising demand for animal protein, and rapid urbanization
Read 150 page market research report, "Swine Vaccines Market Size, Share & Trends Analysis Report By Product (Recombinant, Inactivated), By Type (Pseudorabies, Porcine Circovirus Type 2), By Region (Asia Pacific, North America), And Segment Forecasts, 2021 - 2028", by Grand View Research
The COVID-19 pandemic directly or indirectly impacted the business, results of operations, and financial conditions of market players. The Animal Health business was confronted with various production and supply bottlenecks because of the COVID-19 pandemic; this consists of delays in the delivery of raw materials and active ingredients and capacity constraints in freight transport (especially air and sea freight). While on the other side, the industry has expanded its research at an unprecedented pace in animal health. Thereby, the COVID-19 pandemic significantly impacted the market growth.
In addition, the growing investments by key players to develop advanced products for better diagnosis are likely to propel market growth. For instance, in May 2020, Indian Immunologicals Ltd. introduced the Classical Swine Fever vaccine. Stating that it has introduced the product under the brand name 'Raksha Class'. This is a unique cell culture technology-based vaccine developed in cooperation with the Indian Veterinary Research Institute, Bareilly.
Key players are involved in strategic initiatives, such as joint ventures, mergers, acquisitions, and new product launches to gain a higher market share. For instance, in February 2020, the new vaccine created by ICAR, Indian Veterinary Research Institute (IVRI), based in Uttar Pradesh, was much cheaper than an already existing one. It costs only Rs 2 for each dose over the present vaccine's rate of Rs 15-20 for each dose and an imported Korean vaccine rate of Rs 30 for each dose.
Market Segmentation:
Grand View Research has segmented the global swine vaccines market on the basis of type, product, and region:
- Swine Vaccines Type Outlook (Revenue, USD Million, 2016 - 2028)
- Swine Influenza
- Classical Swine Fever
- Porcine Parvovirus
- Porcine Circovirus Type 2
- M.Hyo
- ActinobacillusPleuropneumonia
- PRRS
- Foot & Mouth Disease
- Pseudorabies
- PEDV
- Others
- Swine Vaccines Product Outlook (Revenue, USD Million, 2016 - 2028)
- Attenuated Live Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- DNA Vaccines
- Recombinant Vaccines
- Swine Vaccines Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- Saudi Arabia
- South Africa
List of Key Players of Swine Vaccines Market
- Merck Animal Health
- Ceva
- Zoetis
- Boehringer Ingelheim GmbH
- Elanco
- Indian Immunologicals Ltd.
- BiogenesisBago
- Phibro Animal Health
- KM Biologics
- HIPRA
Check out more studies related animal vaccines, published by Grand View Research:
- Animal Vaccines Market - The global animal vaccines market size was valued at USD 9.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2021 to 2028. The perpetual introduction of technologically advanced vaccines and the outbreak of livestock diseases have contributed to the changing market dynamics.
- Brazil Veterinary Vaccines Market - The Brazil veterinary vaccines market size was valued at USD 435.3 million in 2019 and is expected to register a compound annual growth rate (CAGR) of 6.4% from 2020 to 2027. Rising mandates for vaccination to curb livestock disease outbreaks and increasing demand for livestock-related food products are primary factors expected to drive market growth.
- Aquaculture Vaccines Market - The global aquaculture vaccines market size was valued at USD 322.4 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2028. High aquaculture production, high prevalence of infectious diseases in the aquaculture sector, and growing demand for aquatic animal-derived food products are the factors expected to drive the market.
Browse through Grand View Research's coverage of the Global Animal Health Industry.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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