The swine fever vaccine market is estimated to be valued at USD 3,028.7 Mn in 2024, growing at a CAGR of 5.9% over the forecast period (2024 – 2031). The market is driven by the rising swine population globally and growing awareness among farmers regarding the prevention of African swine fever virus. Furthermore, various government initiatives to curb the spread of the disease is also augmenting the market growth.
Market Dynamics:
Various awareness campaigns by animal healthcare companies and governmental organizations regarding the severe impact of swine fever and benefits of vaccination are resulting in increased adoption of swine fever vaccines by farmers. This growing awareness is expected to support the market growth during the forecast period.
Growing Prevalence of Swine Fever Globally is Driving Increased Demand for Vaccines
The growing prevalence of swine fever, also known as African swine fever, globally has been a key driver of increased demand for swine fever vaccines. Recent outbreaks of the disease in parts of Asia, Europe, and Africa have severely affected pork production and caused huge economic losses. For example, outbreaks in China in 2018 and 2019 led to the culling of millions of pigs. This has highlighted the need for effective preventive measures like vaccination to control the spread of the disease. Vaccine manufacturers are ramping up production to fulfil the rising demand from pork farmers and governments looking to vaccinate pig populations. Several new vaccine candidates are also in development and clinical trials which could widen treatment options if approved. The continued threat of swine fever outbreaks ensures vaccine usage remains high.
Focus on Preventive Healthcare for Livestock is Propelling Market Growth
With growing awareness about preventive healthcare even for livestock, there is a major focus on vaccination globally. Pork producers recognize that vaccination helps reduce economic losses from disease by preventing outbreaks and maintaining herd health. This focus on preventive healthcare among pork farmers is driving increased demand for core livestock vaccines like the swine fever vaccine. Governments and international organizations are also sponsoring vaccination programs in at-risk regions to control the spread of the disease between borders. Such mass vaccination initiatives consume large volumes of vaccine doses and boost the market. The preventive healthcare-centered approach to livestock management will continue promoting the long-term usage of the swine fever vaccine.
High Development Costs and Stringent Regulations Restrain Market Growth
Developing new swine fever vaccines is an expensive and complex process due to high research and clinical trial costs involved. This acts as a restraint for small manufacturers eyeing the market. Stringent regulations governing the development and approval of animal vaccines also increase costs. For instance, vaccines need to undergo mandatory safety and efficacy testing as per USDA, OIE, and EU guidelines before receiving approval. This regulatory burden discourages the entry of minor players due to high compliance costs. Additionally, the risk of vaccine failures or adverse effects leading to recalls further discourages investments. These significant costs and regulatory hurdles restrain the entry of new competitors and limit market expansion to some extent.
Dependence on Government Stockpiling Programs Hampers Steady Growth
A major portion of global swine fever vaccine demand comes from mass government stockpiling and vaccination programs aimed at disease prevention and control. However, these programs are dependent on annual government budgets and priorities, which are subject to changes. Steep cuts in program budgets negatively impact the consistent growth of key manufacturers relying on such bulk purchase agreements. This leads to an unstable demand pattern. Additionally, vaccines under stockpiling programs are often used over several years until expiry. So manufacturers cannot quickly scale up production when use increases. This reliance on erratic government stockpiling programs introduces unpredictability in the market hampering steady long-term growth for manufacturers.
Growing Livestock Industry in Developing Regions Opens New Market Avenues
Developing countries in Asia Pacific and Latin America are witnessing rapid growth in organized commercial pig farming to meet the rising pork demand of their burgeoning populations and growing middle class. For example, China and India are among the top pork producers globally and their output is expected to surge further in the coming years. This growth of the livestock industry in emerging economies opens up massive opportunities for vaccine providers to enter new untapped markets. It ensures a long growth runway even as markets in developed countries start maturing. Such regions also face a constant threat of disease outbreaks like swine fever due to developing infrastructure and farm management standards. This necessitates increased vaccination and fuels rising demand.
Shift towards Novel Vaccine Formulations to Tap New Market Potential
Novel vaccine delivery methods are being explored to overcome some of the existing limitations like temperature sensitivity of conventional vaccines and difficulties associated with mass administration. Researchers are developing new thermostable and low-cost formulations like oral/intranasal vaccines that eliminate the need for trained personnel during vaccination programs. Such user-friendly products could vastly increase the treated population by enabling widespread usage. They also target compliant obstacles during field programs. Novel subunit and DIVA (Differentiate Infected from Vaccinated Animals) vaccine types addressing current product shortcomings present significant market potential. Successful development of such improved formulations based on cutting-edge vaccine platforms will open lucrative new opportunities over the long term.
Link - https://www.coherentmarketinsights.com/market-insight/swine-fever-vaccine-market-5195
Key Development
- In May 2022, Boehringer Ingelheim, a renowned leading company in animal health globally, introduced its latest innovation: TwistPak, a revolutionary mixing platform. This platform empowers swine producers to seamlessly combine two vaccines, Ingelvac CircoFLEX and Ingelvac MycoFLEX, in a manner that is both convenient and flexible, while also significantly reducing the time required for the process.
- In June 2020, Boehringer Ingelheim announced that its China-developed Classical Swine Fever Vaccine, Live (C-strain, PK/WRL Cell Line Origin), known commercially as Ingelvac CSF, has recently been granted a "New Veterinary Drug Registration Certificate" by the Ministry of Agriculture and Rural Affairs of China. This marks a significant milestone as it is the first Classical Swine Fever live vaccination jointly developed by a foreign corporation and Chinese research organizations.
Key Players: Merck & Co., Inc. (Merck Animal Health), Ceva, Zoetis Services LLC, Boehringer Ingelheim International GmbH, Indian Immunologicals Ltd., Bioveta, a.s., Komipharm, and EC21 Inc.
