The porcine vaccines market is estimated to be valued at US$ 2.4 Bn in 2023 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.

SWOT Analysis:

·         Strength: The porcine vaccines market has strong research activities for development of new vaccines. Porcine vaccine manufacturers focus on innovation and new product launches to strengthen their market presence. Growing adoption of vaccinations for various livestock diseases propels the market growth.

·         Weakness: High costs associated with developing new vaccines is a challenge for small players. Dependence on seasonal epidemics and infections affects market revenues year on year.

·         Opportunity: Emergence of new diseases and infections expands scope for new vaccine candidates. Increasing awareness about animal welfare offers opportunities for market players.

·         Threats: Outbreaks of untreatable diseases pose challenge to treatment and vaccination programs. stringent regulatory norms for approval of animal vaccines increases compliance costs.

Key Takeaways:

The Global Porcine Vaccines Market Demand is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing prevalence of animal diseases. The increasing awareness about animal welfare and protection from diseases is driving the growth of the market.

The market size for porcine vaccines is US$ 2.4 Bn in 2023. North America is currently the largest market for porcine vaccines owing to growing meat consumption and industrial livestock production in the region. Asia Pacific is expected to record the fastest growth over the forecast period supported by rising livestock vaccination programs in China and India.

Regional analysis:

The Asia Pacific region is expected to grow at the fastest rate amongst all regions. China and India are the major markets driving the growth in the region due to rising livestock vaccination programs and increasing demand for pork meat in these countries.

Key players operating in the porcine vaccines market are Boehringer Ingelheim International GmbH. (Germany), FORMOSA BIOMEDICAL INC. (Taiwan), Zoetis (U.S.), Dechra Pharmaceuticals PLC (U.K.), Hester Biosciences Limited. (India), Merck & Co., Inc. (U.S.), Novartis AG (Switzerland), Elanco (U.S.), Phibro Animal Health Corporation (U.S.), HIPRA, S.A (Spain), Bimeda, Inc (Ireland), Ceva (France), ARKO Laboratories (U.S.).

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