Swine Vaccines Market Size, Share & Trends Analysis Report, By Product (Recombinant, Inactivated), By Type (Pseudorabies, Porcine Circovirus Type 2), By Region, And Segment Forecasts, 2022 - 2030
New York, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Swine Vaccines Market Size, Share & Trends Analysis Report, By Product, By Type, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p06360863/?utm_source=GNW
Swine Vaccines Market Growth & Trends
The global swine vaccines market size is expected to reach USD 2.3 billion by 2030. The market is anticipated to witness a lucrative CAGR of 4.9% from 2022 to 2030. The increasing prevalence and incidence of swine diseases, rising concerns over zoonoses, and strengthening biosecurity measures among swine farms are some of the major factors augmenting the market growth. In addition, the initiatives taken by government and animal healthcare organizations in spreading disease awareness and supporting vaccination drives are further propelling the market growth during the projected period.
The Covid-19 pandemic has directly or indirectly impacted the key player’s swine vaccine business operations and resulted in declined financial performance during the initial time.The effect of the pandemic with various production and supply chain bottlenecks delayed the delivery of necessary raw materials or active ingredients and postponed certain research & development activities.
However, the simultaneously reported African swine fever outbreaks in several regions pressured the swine vaccine manufacturers with a large demand.In 2020, the OIE reported 9,928 ASF outbreaks in Asia, followed by 4,271 outbreaks in Europe.
Hence, considering the situation, the government supported the distribution of swine vaccines with ease of restrictions, which afforded opportunities to rebuild the company’s growth.
In addition, the global concern regarding antibiotic resistance is growing in agriculture and veterinary medicine.Thus, several countries have banned the use of antibiotics for livestock farming, including preventive treatment procedures.
This act has compelled swine farms to adopt antibiotic-free disease preventive approaches such as vaccination.Furthermore, growing investments by key players to develop advanced products for better diagnosis are likely to propel market growth.
For instance, in May 2020, Indian Immunologicals Ltd. introduced the Classical Swine Fever vaccine under the brand name ‘Raksha Class’, a unique cell culture technology-based vaccine developed in cooperation with the Indian Veterinary Research Institute, Bareilly.
Key players in the market are implementing various strategic initiatives, such as acquisitions, mergers, partnerships, and product launches, among others to maintain a competitive edge in the market. For instance, In March 2022, Ceva launched the sow vaccine, a vaccine containing seven antigens used to treat neonatal diarrhea.
Swine Vaccines Market Report Highlights
• The PRRS (Porcine Reproductive and Respiratory Syndrome) segment accounted for the largest revenue share in 2021 by type segment owing to its large prevalence in major swine-raising countries. The disease has been considered an epidemic for over 30 years in the U.S. and more than 20 years in China, the leading swine industry
• By product, the inactivated vaccines segment held the largest market share in 2021. These vaccines are more stable than live attenuated vaccines and can provide swine with better immunization. They prevent pathogen replication and therefore do not possess the risk of virulence reversion
• Asia Pacific accounted for the largest market share in 2021 and is expected to grow at the fastest CAGR. Key factors contributing to this notable share include the presence of leading swine production countries such as China coupled with a large meat-consuming population and wide requirement for vaccines to curb current rising disease outbreaks among Asian swine herds
• The market is fairly competitive owing to the presence of major players such as Zoetis, Merck, Ceva, Boehringer Ingelheim International GmbH, Elanco, and Virbac among others. The various strategic initiatives implemented by companies such as acquisitions, collaborations, product launches, and partnerships are greatly contributing to the growth of the market
Read the full report: https://www.reportlinker.com/p06360863/?utm_source=GNW
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