Porcine Vaccines Market Report: Global Perspectives on Hog ImmunizationPosted by Roger on January 19th, 2024 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. 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. 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. 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. Like it? Share it!More by this author |