Market Size of Swine Vaccines Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Swine Vaccines Market Analysis
The swine vaccines market is expected to register a CAGR of 5.2% over the forecast period.
The COVID-19 pandemic had a substantial impact on the swine vaccine market. The animal health industry witnessed an adverse impact owing to the outbreak of COVID-19. Delays in the delivery of the active ingredients and raw materials and capacity constraints were some of the major concerns that restrained the market's growth during the early pandemic. For instance, according to an article published by the United States Department of Agriculture in February 2022, the COVID-19 pandemic significantly impacted production in pork processing plants across the United States, with effects felt throughout the pork supply chain. Thus, the pandemic had a significant impact on the studied market initially. However, as the pandemic has currently subsided, the studied market is expected to have stable growth during the forecast period of the study.
Factors such as government initiatives toward swine disease management, increasing awareness about influenza A, and an increase in research and development expenditure toward vaccine innovation are expected to boost the market growth.
The increasing cases of swine fever in developing countries and the initiatives by various organizations for the management of the disease are also some of the major factors propelling the market's growth over the forecast period. For instance, as per the report published by the Foundation for Food & Agriculture Research in April 2022, African swine fever (ASF) has emerged as one of the highly contagious viruses that cause 100% mortality in swine. There are no commercially available vaccines to treat the disease. Therefore, in order to combat the disease, the Foundation for Food & Agricultural Research granted USD 145,000 to Genvax Technologies for developing a self-amplifying messenger RNA (saRNA) vaccine for African Swine Fever in association with the United States Department of Agriculture-Agricultural Research Services-Plum Island Animal Disease Center (USDA-ARS-PIADC). African Swine Fever has been detected in many countries until now, except in the United States. In addition, government initiatives toward swine disease management are one of the major factors driving the market growth.
Additionally, according to an article published by Efsa Journal in May 2022, salmonellosis is one of the most common food-borne outbreaks that occurs in the European Union, and it often comes from swine. Thus, the high prevalence of such diseases is expected to enhance the demand for swine vaccines for the prevention of the disease.
Moreover, the development of various market players is also expected to boost market growth. For instance, in December 2022, UConn collaborated with USDA to develop an African swine fever vaccine candidate that is licensed by Zoetis. Similarly, in June 2022, Vietnamese researchers developed a vaccine against African swine fever for pigs in collaboration with the United States.
Therefore, owing to the aforementioned factors, such as the rising developments by key market players, increasing cases of swine fever in developing countries, and the initiatives by various organizations for the management of the disease, the studied market is anticipated to witness growth over the analysis period. However, the high cost of maintaining and handling storage conditions, along with the chance of reverse reactions from vaccines, is likely to impede the market's growth.
