Market Trends of Swine Healthcare Industry
This section covers the major market trends shaping the Swine Health Market according to our research experts:
Vaccines in the Therapeutics Segment is Expected to Hold a Major Share in the Studied Market
Vaccines consist of attenuated or killed microbes or microbial DNA, and upon administration, the immune system triggers a response that produces antibodies, thus increasing immunity. New advanced vaccines have been manufactured that contain genetically engineered components derived from disease-causing agents. They are given to pigs, usually by injection, to stimulate an immune response that will protect the pigs against later natural infection with the organism from which the vaccine was derived. Vaccines impart immunity to the pigs in the most efficient way and are highly effective. Hence, the vaccine segment is expected to grow significantly over the forecast period.
Owing to the high efficiency and effectiveness of the vaccines for swine health, key companies, as well as academic research institutes, are investing heavily in the area of the development, approval, and launch of new vaccines, which is expected to fuel the growth in the studied market as a new product in the market will increase the competition in the studied market. For instance, in May 2022, Boehringer Ingelheim, a global leader in animal health, launched TwistPak, a revolutionary mixing platform. It enables swine producers to combine two vaccines, Ingelvac CircoFLEX and Ingelvac MycoFLEX, in a convenient, fast, and flexible way. The positive outcome from the undergoing vaccine candidates is further expected to have a positive impact on the growth of the studied segment. For instance, as per the September 2021 report of the United States Department of Agriculture (USDA), one of its African Swine Fever Virus (ASFV) vaccine candidates has been shown to prevent and effectively protect both European and Asian-bred swine against the current circulating Asian strain of the virus. Therefore, with the high efficiency of vaccines against swine diseases, new launches, and research studies, the vaccine segment is expected to hold a major share of the studied market over the forecast period.
North America is Expected to Dominate the Swine Healthcare Market Over the Forecast Period
North America is expected to dominate the market due to the presence of a well-established swine industry and the rising incidence of swine infections, such as Swine Enteric Coronavirus Disease (SECD), Porcine Epidemic Diarrhea (PEDv), and Porcine Delta Coronavirus (PDCoV), which cause significant morbidity and mortality, particularly in young piglets. All these factors are collectively driving the growth of the studied market in the region.
In the North American region, the United States is expected to occupy a major market share in the swine healthcare market. Investment in the country is expected to increase market growth over the forecast period. For instance, in March 2022, the United States Department of Agriculture awarded USD 642,000 to Cornell University for the development of more effective swine influenza vaccines. Such grants are expected to increase market growth over the forecast period as they will increase the research and development activities resulting in the development of innovative vaccines.
Furthermore, the approval of new drugs or vaccines is expected to increase market growth in the region. For instance, in April 2022, scientists with the US Department of Agriculture's Agricultural Research Service (ARS) stated that a vaccine candidate for African Swine Fever (ASF) passed an important safety test required for regulatory approval, moving the vaccine one step closer to commercial availability. Thus, with initiatives such as increasing grants and approvals, the market is expected to grow over the forecast period.
