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According to Transparency Market Research, the global porcine vaccines market was valued at US$ 1,784.0 Mn in 2016 and is projected to expand at a compounded annual growth rate (CAGR) of over 7.0% from 2017 to 2025, to reach value of US$ 3,208.8 Mn by 2025.
The global market is witnessing growth at a relatively high rate, owing to rise in investments by governments in the field of animal health care, high incidence of swine fever, increase in R&D expenses incurred for eradicating porcine health issues, and surge in the demand for porcine meat and gelatin. Also, technological advancements such as combined vaccine production and DNA vaccines enable agriculture farmers to produce disease-free pigs. This factor is estimated to fuel the porcine vaccines market in the near future.
The inactivated vaccines segment accounted for a key share (in terms of revenue) of the global market in 2016. The live attenuated vaccines segment is estimated to expand at a significant growth rate during the forecast period and is estimated to gain a significant market share by 2025. DNA vaccines also offer several advantages over live attenuated vaccines and inactivated vaccines and thus, DNA vaccines are increasingly gaining popularity among veterinary hospitals and hog production farms.
Diarrhea and swine influenza segments dominated the global market in 2016 and are likely to continue their dominance from 2017 to 2025, with a marginal increase in their market shares by 2025. In terms of end-user, the global market has been divided into veterinary hospitals and hog production farms. The hog production farms segment is estimated to gain a significant market share by 2025, due to increasing demand for production of pigs for meat and other products.
Geographically, the market in North America is primarily driven by rapid increase in pig cultivation and rise in infection of pigs caused by viruses such as PEDV, PCV, and PRRSV in the U.S. Moreover, rise in contract farming and independent farming for pig production has been observed in the U.S., which is projected to fuel the hog production farms segment of the market in the U.S. during the forecast period. Asia Pacific is projected to be a rapidly expanding market for porcine vaccines during the forecast period. China dominates the porcine vaccines market in Asia Pacific. The market in Rest of Asia Pacific (including Vietnam, the Philippines, etc.) is estimated to expand at a significant CAGR during the forecast period.
April 2018/ Transparency Market Research.
https://www.transparencymarketresearch.com
