Market Trends of Swine Vaccines Industry
Inactivated Vaccines Segment is Expected to Witness Significant Growth Over the Forecast Period
The inactivated vaccines segment is likely to register significant growth throughout the forecast period. Inactivated vaccines may contain antigens of organisms that are chemically synthesized or the whole organism in an inactivated state. The immunity ratio in inactivated vaccines can be enhanced by adding adjuvants or substances, such as certain types of oil or aluminum hydroxide. These vaccines also contain toxins that are usually modified to stimulate an immune response in swine.
Various research studies related to inactivated vaccines are in the pipeline to check their effectiveness against various swine diseases; this is expected to enhance segment growth. For instance, according to an article published by PubMed in March 2022, an inactivated vaccine is currently in development for Senecavirus A (SVA), which is commonly known as Seneca Valley virus (SVV), and it is a causative agent for vesicular disease in swine. Hence, such research and development activities are anticipated to boost the segment's growth over the forecast period.
Furthermore, various developments by market players and other organizations are also expected to enhance market growth. For instance, in June 2022, the United Kingdom Research and Innovation collaborated with various organizations in Southeast Asia to develop swine biopharmaceuticals, including vaccines. The organizations include the National Vaccine Institute of Thailand, the National Institute for Veterinary Research (NIVR), the Ministry of Agriculture, Vietnam, and the Bioscience Animal Health of Thailand, among others. Moreover, in January 2021, ECO Animal Health Group plc received marketing authorization from Brazil's Ministry of Agriculture, Livestock and Food Supply for Circo/MycoGard, a vaccine for swine. Circo/MycoGard is an inactivated vaccine that is used for the vaccination of healthy piglets against Porcine Circovirus type 2 (PCV2) and Mycoplasma hyopneumoniae.
Therefore, the inactivated vaccines segment is expected to witness significant growth over the forecast period due to the abovementioned factors, such as the several advantages of inactivated vaccines and increasing research studies for inactivated swine vaccines.
North America is Expected to Hold a Significant Market Share Over the Forecast Period
North America is expected to hold a significant market share owing to factors such as an increasing number of diseases and rising R&D expenditure to develop advanced products in the region. An increase in the usage of swine vaccines owing to the highly organized farming structures in the United States is among the key factors that contribute to the growth of the studied market in North America. For instance, in March 2022, the USDA's National Institute of Food and Agriculture (NIFA) granted USD 642,000 to Cornell University to develop swine influenza vaccines. Therefore, such initiatives are anticipated to promote market growth in this region.
Furthermore, the high hogs and pigs population in the region is also expected to boost market growth. For instance, according to the data published by USDA's National Agricultural Statistics Service (NASS) in March 2022, there were 72.2 million hogs and pigs on United States farms.
Moreover, various initiatives by the governments are some of the other factors driving the growth of the swine vaccine market in the country. For instance, in November 2022, Agriculture and Agri-Food Canada launched an African swine fever prevention and preparedness program. It is a USD 23.4 million program which is designed to help Canada's pork industry prepare for the possibility of African swine fever (ASF) entering the country. Similarly, in August 2022, the Government of Canada made an investment of up to USD 45.3 million to enhance African swine fever prevention and preparedness.
Therefore, owing to the aforementioned factors, such as the high swine population and the increasing initiatives by the government, the growth of the studied market is anticipated in the North American region.
