What’s The Growth Forecast For Porcine Epidemic Diarrhea Vaccines Market Through 2024-2033?
The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.
The porcine epidemic diarrhea (PED) vaccines market has experienced significant growth in recent years and is poised for continued expansion. Below, we explore the driving factors, major trends, and key developments shaping this market.
Recent Market Growth and Projections
Steady Growth in Recent Years
- The PED vaccines market grew from $1.56 billion in 2023 to $1.67 billion in 2024.
- This growth is driven by a compound annual growth rate (CAGR) of 7.4%.
- Key contributors include large-scale vaccination campaigns, expanded immunization programs (EPI), and increased efforts to eradicate diarrhea.
Strong Future Outlook
- The market is projected to reach $2.25 billion by 2028, with a CAGR of 7.7%.
- Growth drivers include an expanding vaccine development pipeline, a growing pig population, and increased awareness of preventive healthcare.
- Advancements in vaccine delivery technology and cold chain management are also expected to play a significant role.
View More On The Porcine Epidemic Diarrhea Vaccines Market Report 2024 – https://www.thebusinessresearchcompany.com/report/porcine-epidemic-diarrhea-vaccines-global-market-report
Driving Factors Behind Market Expansion
Increasing Pig Farming
- The rise in pig farming is a significant driver of the PED vaccines market.
- Increased global demand for pork products and advancements in farming techniques contribute to this growth.
- For instance, the U.S. raised around 75 million hogs and pigs as of December 2023.
- In the UK, pork on agricultural holdings increased by 9% from December 2020 to December 2021.
Importance of Vaccination in Pig Farming
- PED vaccines are critical in preventing and managing outbreaks in pig farming.
- These vaccines are administered to sows during gestation to provide passive immunity to newborn piglets.
- The growing pig farming industry is directly driving the demand for PED vaccines.
Major Trends in the PED Vaccines Market
Innovations in Vaccine Delivery
- The market is witnessing continuous innovations in vaccine delivery devices.
- A significant trend is the shift towards needle-free solutions, which offer a safer and more efficient vaccination process.
Advancements in Personalized Medicine
- There is a growing preference for personalized medicine in the animal health sector.
- Personalized vaccines tailored to specific needs are expected to become more prevalent.
Strengthening Animal Healthcare Infrastructure
- Efforts to strengthen animal healthcare infrastructure and distribution networks are underway.
- This includes expanding veterinary services and ensuring efficient cold chain management for vaccine storage and distribution.
Key Developments in the Market
Innovative Porcine Parvovirus (PPV) Vaccines
- Leading companies are developing new products, such as the Porcine Parvovirus (PPV) vaccine, to combat reproductive failure in pigs.
- Boehringer Ingelheim launched the ReproCyc ParvoFLEX PPV vaccine in March 2022, offering comprehensive protection against PPV-induced reproductive losses.
Strategic Acquisitions
- In September 2021, Vaxxinova International BV acquired Newport Laboratories from Boehringer Ingelheim.
- This acquisition strengthens Vaxxinova’s portfolio of livestock vaccines, particularly in the swine sector.
Market Segmentation and Regional Insights
Product Segmentation
- The PED vaccines market is segmented by product into live vaccines and killed vaccines.
- Both product types are crucial for different stages of piglet and adult pig care.
Application and End-User
- The vaccines are used for piglets and adult pigs, with end-users including veterinary hospitals and hog production farms.
Regional Insights
- Asia-Pacific was the largest region in the PED vaccines market in 2023, reflecting the region’s significant pork production industry.
The porcine epidemic diarrhea vaccines market is set to continue its robust growth trajectory, driven by innovations in vaccine technology, expanding pig farming practices, and strategic industry developments.
Request A Sample Of The Global Porcine Epidemic Diarrhea Vaccines Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=16514&type=smp