The porcine vaccines market has seen significant developments with growing demand for safer animal protein sources. Porcine vaccines are biological preparations intended to produce active immunity in pigs to protect the health of swine from various infectious diseases. The use of porcine vaccines helps eliminate the risk of epizootic diseases that can severely impact pig farming operations. Commonly used porcine vaccines include foot and mouth disease (FMD) vaccine, classical swine fever vaccine, porcine parvovirus vaccine, and PRRS (porcine reproductive and respiratory syndrome) vaccine. The global porcine vaccines market is estimated to be valued at US$ 2.4 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the key drivers for the growth of the porcine vaccines market is the growing demand for animal protein globally. Pork is one of the most widely consumed meats worldwide owing to changing dietary preferences. According to the OECD-FAO Agricultural Outlook 2021-2030 report, pork consumption is projected to increase by 6% worldwide by 2030. Rising pork consumption is driving greater investments in industrial pig farming operations requiring the adoption of advanced technologies like vaccines to ensure the health and productivity of livestock. Furthermore, the looming threat of transboundary animal diseases also necessitates the use of effective vaccines. Diseases like FMD and African swine fever can lead to devastating losses for pig farmers. Porcine vaccines aid in controlling the spread of such diseases and allow for more sustainable pig production worldwide.

SWOT Analysis

Strength: The porcine vaccines market has continued growth opportunities owing to rising pork consumption and production globally. Strict regulations regarding pork safety and quality have led vaccine manufacturers to develop more effective vaccines. Increased funding for vaccine R&D by governments and industry will drive innovation.

Weakness: Vaccine effectiveness depends on several external environmental factors like temperature during storage and transportation. Breakdowns in cold chain can reduce vaccine efficacy. Developing new vaccines requires extensive clinical trials and regulatory approvals which are expensive and time consuming.

Opportunity: Emerging economies with large pig farming industries present new market avenues. Vaccines for emerging disease indicate future demand. Advancements in vaccine delivery technologies like needle-free injectors can improve vaccination programs.

Threats: Outbreaks of new diseases pose financial risks to the industry. Competition from alternative prevention approaches like improved pig husbandry practices can impact vaccine sales. Trade barriers and geopolitical issues affect international supply chains.

Key Takeaways

The global porcine vaccines market is expected to witness high growth over the forecast period driven by rising pork demand globally. The Asia Pacific region currently dominates the market owing to large pig farming industries in China, Vietnam, and Indonesia. China has one of the largest production and consumption of pork worldwide and is a major lucrative market for porcine vaccine manufacturers.

Key players operating in the porcine vaccines market are Boehringer Ingelheim International GmbH. (Germany), FORMOSA BIOMEDICAL INC. (Taiwan), Zoetis (U.S.), Dechra Pharmaceuticals PLC (U.K.), Hester Biosciences Limited. (India), Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Elanco (U.S.), Phibro Animal Health Corporation (U.S.), HIPRA, S.A (Spain), Bimeda, Inc (Ireland), Ceva (France), ARKO Laboratories (U.S.). Leading companies are focused on expanding their porcine vaccine portfolios through acquisitions and new product launches.