The global swine vaccine market, valued at approximately USD 1.5 billion in 2021, is poised for steady growth, according to a newly released market analysis report by Future Market Insights. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 5.8% from 2022 to 2032, creating an absolute dollar opportunity of USD 1.2 billion during the forecast period. This marks a notable increase over the historical CAGR of 4.9%.
The inactivated vaccines segment is expected to lead the market, outpacing other vaccine types with a CAGR of 5.9% from 2022 to 2032. Additionally, Porcine Circovirus Type 2 has emerged as the top revenue-generating segment within the global swine vaccine market. This segment is anticipated to grow at a CAGR of 5.6% over the forecast period, driven by increasing demand for disease prevention in swine populations.
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.
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 Europe 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 Europe 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 Europe 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.
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 Global Swine Vaccine Industry
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.
A Full Report Overview
Segments Covered in Global Swine Vaccine Industry 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.