2024 Swine Vaccines Market Summary: 5 Key Findings
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What Growth Projections are in Place for the Swine Vaccines Market Between 2024-2033?
There has been substantial growth in the swine vaccines market in the past few years. Its size is predicted to increase from $2.01 billion in 2023 to $2.2 billion in 2024, at a compound annual growth rate (CAGR) of 9.6%. Stimulation for this growth during the historic period could be due to disease epidemics, financial losses, governmental rules, and a surge in swine production.
In the coming years, the swine vaccines market is predicted to witness substantial growth. The market value is projected to reach $3.17 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. The growth during the forecast period can be linked to factors such as the emergence of new diseases and viral strains, the internationalisation of the swine industry, alterations in climate and environment, biosecurity initiatives, and market competition. The period forecasts main trends such as advancements in veterinary science, changes in disease models, a worldwide demand for protein, technological progress, and a shift towards preventative healthcare.
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What Are the Major Factors Contributing to the swine vaccines Market Expansion?
The proliferation of diseases among pigs is poised to drive demand for swine vaccines. Swine diseases, which include symptoms of illnesses such as pseudorabies and influenza, are defined as any deviation from an animal’s standard physical or operational state. The escalating incidence of swine diseases coupled with the necessity to defend pigs against infectious illnesses is causing a surge in swine vaccine demand. As per a report by the World Organization for Animal Health (WAHIS), a worldwide animal health data repository, in August 2022, over 1,125,000 pigs and some 36,000 wild boars have been impacted by the African Swine Fever (ASF) since the beginning of 2020. The data, reported through INs and FURs, indicates that over 1,960,000 animals were lost due to this disease. Consequently, the increasing occurrence of diseases in swine is predicted to fuel the growth of the market.
What Are the Major Segments of the Swine Vaccines Market?
The swine vaccines market covered in this report is segmented –
1) By Product: Attenuated Live Vaccines, Inactivated Vaccines, Subunit Vaccines, DNA (Deoxyribonucleic Acid) Vaccines, Recombinant Vaccines
2) By Disease: Viral Infections, Bacterial Infections, Parasitic Infection, Fungal Infections, Other Diseases
3) By Distribution Channel: Veterinary Hospitals, Veterinary Pharmacies, Online Pharmacies
4) By Application: Government Tender, Market Sales
What Are the Transformative Trends Influencing the Swine Vaccines Market?
The growth of technology is becoming a significant trend in the swine vaccine market. Key industry leaders are focusing on developing novel technologies that can administer two vaccines concurrently to improve swine health and maintain their market standing. For instance, in May 2022, the German pharmaceutical company, Boehringer Ingelheim, introduced its innovative TwistPak technology. This pioneering platform, designed to combine two vaccines, IngelvacCircoFLEX and IngelvacMycoFLEX, is specifically targeted at swine producers. TwistPak provides an easy-to-use, time-efficient platform that not only simplifies the mixing process but also retains the option to use the products as a combined vaccine or a monovalent. This technology is crafted using cutting-edge methods and is ergonomically constructed.
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What Regions Are Leading the Growth Trajectory of the Swine Vaccines Market?
North America was the largest region in the swine vaccines market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the swine vaccines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Swine Vaccines Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the swine vaccines market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Swine Vaccines Market Include
1. Swine Vaccines Market Executive Summary
2. Swine Vaccines Market Segments
3. Swine Vaccines Market Size And Template Market Growth Rate
4. Key Swine Vaccines Market Trends
5. Major Swine Vaccines Market Drivers
……
25. Key Mergers And Acquisitions In The Swine Vaccines Market
26. Top Swine Vaccines Companies
27. Swine Vaccines Market Opportunities And Strategies
28. Swine Vaccines Market, Conclusions And Recommendations
29. Appendix
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