Swine Fever Vaccine Market Is Estimated To Witness High Growth Owing To Opportunity To Reduce Mortality Rates In Swine.

 swine fever vaccine market

Swine fever vaccines are vaccines that help protect pigs against swine fever virus infection, also known as Classical swine fever. Swine fever causes a highly contagious pig disease characterized by fever, loss of appetite, weakness, and joint pain. If left untreated, swine fever can cause high rates of mortality in infected pigs. The vaccinations stimulate the immune system to produce antibodies against the swine fever virus and help prevent illness or make any infection less severe if exposure occurs later.

The global swine fever vaccine market is estimated to be valued at US$ 2885.25 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity to reduce mortality rates in swine holds potential growth opportunities for the swine fever vaccine market. Swine fever is a highly fatal disease that can result in mortality rates of over 90% in infected pigs if left untreated. Vaccination significantly reduces the mortality rates and promotes healthy swine populations. As swine is a major source of meat for human consumption globally, protecting pigs from diseases like swine fever is crucial to ensure steady meat supply and support the livelihoods of pig farmers. The vaccines help provide first-line defense against swine fever outbreaks and control the spread of infection within pig populations. This drives demand for advanced swine fever vaccines with higher efficacy rates and reduces economic losses from swine mortality on farms and food supply chains.

Porter’s Analysis

Threat of new entrants: Low barriers to entry due to availability of generic vaccines. However, established players have strong brand recognition and distribution networks.

Bargaining power of buyers: Buyers have moderate bargaining power due to presence of substitutes and bargaining of large volumes.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitutes and integrated supply chain of major players.

Threat of new substitutes: Low threat due to lack of effective substitutes for swine fever vaccines.

Competitive rivalry: High due to presence of multiple national and global players competing on basis of pricing and innovation.

SWOT Analysis

Strength: Effective prevention of swine fever outbreaks. Established brands and distribution networks of major players.

Weakness: High R&D costs. Stringent regulations. Requirement of cold chain infrastructure.

Opportunity: Untapped markets in developing regions. New product innovations and technology advancements.

Threats: Threat from alternative prevention methods. Trade barriers and geopolitical tensions.

Key Takeaways

The Global Swine Fever Vaccine Market Trend is expected to witness high growth over the forecast period supported by rising pork consumption and outbreak control initiatives. The Asia Pacific region currently dominates the market owing to the large pork industry and frequent outbreaks in major markets of China and Vietnam. Regional efforts towards commercialization of vaccines and strengthening of healthcare infrastructure would further support market growth.

Key players operating in the swine fever vaccine market are Merck & Co., Inc. (Merck Animal Health), Ceva, Zoetis Services LLC, Boehringer Ingelheim International GmbH, Indian Immunologicals Ltd., Bioveta, a.s., Komipharm, and EC21 Inc. Major players are focused on geographic expansion and development of novel products. Merck Animal Health leads the market with its extensive product portfolio and global presence.

For more insights, read- https://www.rapidwebwire.com/driven-by-rising-research-and-development-activities-analysis/