The swine fever vaccine is primarily used for vaccination of pigs against classical swine fever and African swine fever. Classical swine fever is a highly contagious viral disease of pigs, characterized by fever, loss of appetite, abortion, and high mortality rates. African swine fever is a hemorrhagic disease of swine.
The global swine fever vaccine market is estimated to be valued at US$ 2885.25 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
High Growth Owing to Increasing Disease Prevalence: African swine fever and classical swine fever continue to spread rapidly, affecting domestic and feral pig populations globally. According to FAO data, African swine fever cases increased from 4 countries in 2017 to over 50 countries in Asia, Europe, and Africa by early 2022. Similarly, classical swine fever outbreaks were reported in Asia and Europe over the last few years. The widespread prevalence of these diseases is expected to drive the demand for effective vaccines, boosting the market growth over the forecast period.
SWOT Analysis
Strength: The swine fever vaccine market currently has multiple vaccines available to combat Swine Fever Virus with established efficacy. There are both live-attenuated and inactivated vaccines available which provide flexibility based on the swine population and risk. Several major players have established vaccine production facilities and distribution networks to supply large volumes of the vaccines.
Weakness: Swine fever vaccine production requires high security Bio-Safety Level 3 laboratories which require large capital investments limiting the number of players. Dependence on a few major multinational companies makes the market vulnerable to supply disruptions. Some regions also face challenges related to continuous outbreaks which negatively impact the demand for vaccines.
Opportunity: Emerging markets in Asia Pacific and Latin America present significant opportunities for market expansion driven by growing pork consumption and trade. Technological advancements can help develop thermostable and single-dose vaccines reducing cold chain requirements. Public-private partnerships are being established to strengthen emergency preparedness and vaccination programs globally.
Threats: Threat from emerging variants requires continuous surveillance and adaptation of vaccines. Non-compliance to vaccination schedules especially in small farms pose a risk of disease spread. Trade restrictions imposed during outbreaks negatively impact overall demand.
Key Takeaways
The Global Swine Fever Vaccine Market Trend is expected to witness high growth over the forecast period driven by initiatives to control the spread of the disease globally. The Asia Pacific region currently dominates the market owing to a large pig population and frequent outbreaks witnessed in China and neighboring countries. The region accounts for over 65% of global market share and is expected to maintain its leading position. The increasing pork demand from growing populations and per-capita consumption is supporting vaccination programs. Countries like India and Vietnam are also aggressively vaccinating pigs to boost exports.
Key players operating in the swine fever vaccine market are Merck & Co., Inc. (Merck Animal Health), Ceva, Zoetis Services LLC, Boehringer Ingelheim International GmbH, Indian Immunologicals Ltd., Bioveta, a.s., Komipharm, and EC21 Inc. Merck & Co., Inc. (Merck Animal Health) dominates the market with its Porcilis Pesti vaccine available in over 60 countries. The company has two manufacturing facilities and is expanding production capacity to meet additional demand from new markets. Ceva also has a significant presence with its Fostera and Porcilis PCV vaccines production in major European and Asian countries.
The global swine fever vaccine market is expected to witness high growth over the forecast period. Regions like Asia Pacific and Latin America present major opportunities owing to growing pork demand and trade. Initiatives by key players to develop vaccines catering to new variants and regions will strengthen disease control globally over the coming years. Continuous surveillance and compliance to vaccination schedules remain important to mitigate risks from the swine fever virus.
For more insights, read- https://makuv.com/growth-accelerated-by-increased-prevalence-of-swine-fever-the-global-swine-fever-vaccine-market-to-exhibit-increasing-growth-in-the-coming-years