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NEW YORK, April 13, 2022 /PRNewswire/ — According to the report “Porcine Vaccine Market by Product and Geography – Forecast and Analysis 2022-2026“, the market will witness a YOY growth of 6.2% in 2022 and a CAGR of 7.01% during the forecast period. The report is segmented by product (intravenous, intramuscular, and others) and geography (North America, Europe, Asiaand Rest of World (ROW)).
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Vendor Insights
The porcine vaccine market is concentrated, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Bimeda Inc.
- Bioveta AS
- Boehringer Ingelheim International GmbH
- Ceva Sante Animale
- Elanco Animal Health Inc.
- FATRO SpA
- Formosa Biomedical Inc.
- LABORATORIOS HIPRA SA
- Merck and Co. Inc.
- Phibro Animal Health Corp.
- Veterinary Provisions Inc.
- Vetoquinol SA
- Virbac Group
- Zoetis Inc.
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Geographical Market Analysis
North America will provide maximum growth opportunities during the forecast period. According to our research, the region will contribute to 42% of the global market during the forecast period. The US and Canada are the two major markets in North America. The rising animal healthcare expenditure will facilitate the porcine vaccine market growth in North America over the forecast period.
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Key Segment Analysis
The porcine vaccine market share growth by the intravenous segment will be significant during the forecast period. Proper injection techniques should be followed in order to minimize pain at the site of injection and avoid the accumulation of illegal residues in pigs. Intravenous (IV) and intramuscular (IM), among others, are the routes of administration for porcine vaccines. Vendors in the market offer inactivated vaccines, live attenuated vaccines, toxoid vaccines, and recombinant vaccines, which can be administered intravenously. Thus, the availability of a wide range of porcine vaccines that can be administered intravenously will drive the intravenous growth of the global porcine vaccine during the forecast period.
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Key Market Drivers & Challenges:
The increasing prevalence of porcine diseases is driving the porcine vaccine market growth. Porcine vaccines can be used in the treatment and management of various epidemic porcine diseases such as PRRS, porcine circovirus-associated disease (PCVAD), and other target diseases. The rising prevalence of such porcine diseases will lead to an increase in demand for inactivated vaccines, live attenuated vaccines, toxoid vaccines, recombinant vaccines, and other porcine vaccines during the forecast period. This will drive the porcine vaccine market growth during the forecast period.
The lack of trained veterinary doctors is challenging the porcine vaccine market growth. The lack of highly skilled professionals negatively impacts the adoption and use of porcine vaccines. Moreover, the decrease in the number of educational programs on epidemic porcine diseases that are offered to veterinary students, the presence of inadequate facilities in veterinary centers, and the lack of veterinary hospitals and clinics in emerging economies lead to a lack of awareness about porcine diseases and vaccines. These factors will have a negative impact on the growth of the global porcine vaccine market during the forecast period.
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Porcine Vaccine Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.01% |
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Market growth 2022-2026 |
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Full story available on Benzinga.com
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