Porcine vaccines are biological preparations intended for use as immunization against various porcine diseases, such as classical swine fever, foot-and-mouth disease, porcine reproductive and respiratory syndrome, among others. These vaccines help protect pigs from harmful diseases that can greatly impact productivity and profitability. Porcine diseases pose a huge economic burden on pig farmers and governments worldwide.

The global porcine vaccines market is estimated to be valued at US$ 2.4 Bn in 2024 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 Opportunity:
Addressing the economic burden of porcine diseases presents a major market opportunity. Porcine diseases result in huge costs for pig farmers and the pork industry due to mortality, reduced productivity, treatment and prevention costs. For instance, it is estimated that Porcine Reproductive and Respiratory Syndrome (PRRS) costs the U.S. pork industry over $600 million annually. Similarly, classical swine fever causes enormous losses to pig farming. Effective vaccination programs can help control the spread of such diseases and reduce their economic impact. This growing need to address the substantial economic losses from porcine diseases through vaccination is expected to drive demand for high-quality and efficacious porcine vaccines over the forecast period.

Porter’s Analysis

Threat of new entrants: Low, as the porcine vaccine industry requires high R&D investments and regulatory approvals to enter.

Bargaining power of buyers: Moderate, as larger buyers can negotiate on prices, however vaccine manufacturers have differentiated products.

Bargaining power of suppliers: Low, as raw material suppliers do not have control over pricing.

Threat of new substitutes: Low, as there are limited alternatives for vaccination in the livestock industry.

Competitive rivalry: High, as the market is dominated by few large players globally competing on product quality, pricing and innovation.

SWOT Analysis

Strengths: Established product portfolios and geographic presence of key players.

Weaknesses: High capital requirements for R&D and manufacturing facilities.

Opportunities: Growth in demand for porcine meats across regions boosts preventive healthcare adoption.

Threats: Stringent regulations on vaccine production and approvals.

Key Takeaways

The global porcine vaccines market is expected to witness high growth. The global porcine vaccines market is estimated to be valued at US$ 2.4 Bn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.

Regionally, Asia Pacific dominates currently due to the high porcine populations and rising meat consumption in China and Vietnam. North America and Europe are also major markets driven by stringent quality and safety standards.

Key players operating in the porcine vaccines market are Boehr, Merck, Zoetis, Elanco, and Ceva. Regional leaders focus on new product development and manufacturing expansion to strengthen market position. Porcine epidemics necessitate preventive vaccination and boost overall industry revenues over the forecast period.