According to a recent analysis report from Future Market Insights, it has been unveiled that the worldwide Swine Vaccine Market, valued at approximately US$ 1.2 Billion in the year 2032, is on track to achieve a steady CAGR of 5.8% during the period from 2022 to 2032. This anticipated growth trajectory is poised to surpass the established historical CAGR of 4.9%.
The rising prevalence and incidence of swine diseases, growing concerns about zoonotic diseases, and increasing biosecurity measures in pig farms are few of the key factors anticipated to drive market acceleration. Initiatives by governments and animal health agencies to spread disease awareness and support vaccination campaigns are also poised to contribute to market expansion from 2022 to 2032.
The COVID-19 pandemic is predicted to have impacted the business operations of prominent swine vaccine players adversely. Impact of the pandemic, with its supply chain disruptions and bottlenecks, delayed the delivery of required raw materials or active parts and postponed certain study and development activities. At the same time, simultaneous outbreaks of African swine fever in numerous regions put pressure on swine vaccine manufacturers to meet the escalating demand in an uncertain economic environment.
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There is also growing global concern about antimicrobial resistance in agriculture and veterinary medicine. For instance, in January 2022, the European Union (EU) banned the use of antibiotics in animal husbandry, and the ban was extended to cover preventive treatments as well.
This law forced pig farms to adopt non-antibiotic approaches to disease prevention, such as vaccination. In the next ten years, this regulation is likely to prove beneficial for the expansion of Europe swine vaccine market. Increasing investment by prominent players to propel advanced goods for better diagnostics is also expected to boost both demand and sales between 2022 and 2032.
Key Takeaways from the Europe Swine Vaccine Market
- A US$ 112 million valuation is anticipated for the United Kingdom swine vaccine market in 2032.
- The European swine vaccine market is accelerating primarily due to government initiatives aimed at preventing a repeat of the 2009 swine flu pandemic.
- In 2021, the value of the global swine vaccine market was estimated to be around US$ 1.5 billion.
- Between 2022 and 2032, FMI expects a steady 8% CAGR to accelerate the global market.
- Demand for swine vaccines is also increasing in the agriculture industry due to the EU’s ban on antibiotic use in animal husbandry, which came into effect in January 2022.
Competition Landscape in the Europe Swine Vaccine Market
Prominent players in Europe swine vaccine market are implementing numerous strategic initiatives such as acquisitions, partnerships, mergers, and new product launches to gain a competitive edge in the market. Research & development efforts are at the core of these players’ activities as they continue to track the evolution of the swine influenza virus.
Recent Developments
- In May 2022, Boehringer Ingelheim GmbH announced the launch of TwistPak, a platform for swine producers that can be used for combining the Ingelvac MycoFLEX and CircoFLEX vaccines conveniently, flexibly, and rapidly.
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Market Segments Covered in Swine Vaccine Market Analysis
By Type:
- Swine Influenza
- Classical Swine Fever
- Porcine Parvovirus
- Porcine Circovirus Type 2
- M.Hyo
- Actinobacillus Pleuropneumonia
- PRRS
- Foot & Mouth Disease
- Pseudorabies
- PEDV
- Other Types
By Product:
- Attenuated Live Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- DNA Vaccines
- Recombinant Vaccines
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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