Top Emerging Trends Of Swine Vaccines Market Progress Forecast 2030 |Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on March 28th, 2023 The global swine vaccines market size is expected to reach USD 2.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to witness a lucrative CAGR of 4.9% from 2022 to 2030. The increasing prevalence and incidence of swine diseases, rising concerns over zoonoses, and strengthening biosecurity measures among swine farms are some of the major factors augmenting the market growth. In addition, the initiatives taken by government and animal healthcare organizations in spreading disease awareness and supporting vaccination drives are further propelling the market growth during the projected period. The Covid-19 pandemic has directly or indirectly impacted the key player’s swine vaccine business operations and resulted in declined financial performance during the initial time. The effect of the pandemic with various production and supply chain bottlenecks delayed the delivery of necessary raw materials or active ingredients and postponed certain research & development activities. However, the simultaneously reported African swine fever outbreaks in several regions pressured the swine vaccine manufacturers with a large demand. In 2020, the OIE reported 9,928 ASF outbreaks in Asia, followed by 4,271 outbreaks in Europe. Hence, considering the situation, the government supported the distribution of swine vaccines with ease of restrictions, which afforded opportunities to rebuild the company’s growth. In addition, the global concern regarding antibiotic resistance is growing in agriculture and veterinary medicine. Thus, several countries have banned the use of antibiotics for livestock farming, including preventive treatment procedures. This act has compelled swine farms to adopt antibiotic-free disease preventive approaches such as vaccination. Furthermore, 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 under the brand name ‘Raksha Class’, a unique cell culture technology-based vaccine developed in cooperation with the Indian Veterinary Research Institute, Bareilly. Key players in the market are implementing various strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, among others to maintain a competitive edge in the market. For instance, In March 2022, Ceva launched the sow vaccine, a vaccine containing seven antigens used to treat neonatal diarrhea. Some of the key factors attributing to the growth of the market include the growing food security concerns with rising swine disease outbreaks and zoonoses coupled with the wide adoption of antibiotic-free disease preventive approaches. Some highly contagious swine diseases such as porcine reproductive and respiratory syndrome (PRRS) and swine influenza remain to be highly prevalent among swine herds of Asian, Europe, and American regions contributing to severe economic loss. Therefore, to curb the effect swine producers are widely implementing biosecurity measures and vaccination processes. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/swine-vaccines-market-report/request/rs1 Due to the increasing number of swine disease outbreaks reported in major swine-raising countries, the customer demand for innovative, fast, safe, and effective vaccines is growing. For instance, according to the OIE, between 2016 to 2020, the Asian swine herds reported 9,928 outbreaks of African swine fever, followed by 4,721 outbreaks in Europe. Government organizations and pharmaceutical industries are continuously launching novel vaccines to combat this severe swine health concern. For instance, on June 2022, Vietnam announced that it had successfully developed the ASF vaccine which was aimed to be circulated throughout the country’s swine farms. However, the vaccine was temporarily suspended for use on August 2022, due to the vaccinated death rates. Swine Vaccines Market Report Highlights
The COVID-19 pandemic hampered the distribution of highly required swine vaccines during the initial months of the year 2020, which caused severe loss to swine producers, and swine vaccine manufacturers. This was due to the lockdowns and supply chain restrictions implemented across the world to curb the spread of covid-19 infection. The governments and healthcare sectors were focusing on handling the human emergency treatments during the crisis and simultaneously challenged to manage the rising incidence of contagious swine diseases that has been affecting the overall livestock industry. Significant measures such as import and export bans, strengthened biosecurity measures, routine surveillance & epidemiological investigations, and necessary vaccinations have been intimated to curb the spread in various regions. Moreover, companies in the market are launching various innovative vaccine technologies and solutions, which is also enhancing market growth. For instance, in October 2022, Boehringer Ingelheim gained authorization from EMA for ReprocycParvoFLEX, the first subunit porcine parvovirus vaccine to protect swine fetuses against transplacental infection. In addition, veterinary universities are focused on delivering vaccination services to help small-scale swine farmers with disease control measures. For instance, the College of Veterinary Medicine, the University of Illinois, created a website to provide information and resources to pork producers for their biosecurity program on farms. Training farm employees and developing a biosecurity plan are essential measures for preventing high-risk pathogens from entering and affecting swine farms. These factors are further improving the growth of the market. List of Key Players of the Swine Vaccines Market
Like it? Share it! More by this author |