The global Swine Vaccine Market is on track to reach a significant milestone, according to a recent report by Future Market Insights (FMI). By 2032, the market is projected to reach a substantial valuation of USD 112 million. This translates to a steady Compound Annual Growth Rate (CAGR) of 6.1% from 2022 to 2032, representing a substantial absolute dollar opportunity of USD 48 million.
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 the European 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 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.
“Players in swine vaccine market are well aware of various governments’ intentions of avoiding a repeat of the 2009 swine flu pandemic. As a result, they are monitoring the evolution of swine influenza virus variants and making changes to their vaccines to keep the European population safe,” says an analyst at Future Market Insights.
Competition Landscape in the Swine Vaccine Market
Prominent players in the European 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.
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Merck Animal Health, Ceva, Zoetis, and Boehringer Ingelheim GmbH are a few of Europe’s key players in the Global Swine Vaccine Industry.
Recent Developments in the Swine Vaccine Market
- 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.
Segments Covered in Swine Vaccine Market Analysis
By Type:
- Swine Influenza
- Classical Swine Fever
- Porcine Parvovirus
- Porcine Circovirus Type 2
- Hyo
- Actinobacillus Pleuropneumonia
- PRRS
- Foot & Mouth Disease
- Pseudorabies
- PEDV
- Other Types
By Product:
- Attenuated Live Vaccines
- Inactivated Vaccines
- Subunit Vaccines
- DNA Vaccines
- Recombinant Vaccines
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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