Pig vaccine market to exceed 7% growth
by Katie Pfaff
The global market for porcine vaccines is expected to grow by a CAGR of 7.01% across the forecast period of 2022 to 2026, according to market analysis company, Technavio. By the end of the period, the dollar value of growth is projected to reach $794.67 million. The market is forecast to grow 6.2% in 2022 in year over year growth.
The degree of growth is projected based on the rise of porcine diseases worldwide and efforts to quell their spread. The array of vaccines available are useful in stemming the spread of diseases such as PRRS and porcine circovirus-associated disease (PCVAD). However, growth will be moderated by a lack of veterinarians skilled in treating porcine disease worldwide coupled with adequate facilities.
Within the porcine vaccine market, the strongest growth by geography is expected to be the United States. The area is forecast to make up 42% of the global market’s value based on the increasing number of dollars being spent on animal healthcare.
When viewing the market by segment of vaccine type, the IV segment is expected to attain a major role in the forecast period. Such technique requires skill to inject intravenously or intramuscularly and not allow the therapy to remain in tissues at the injection site, which can lead to an illegal level of accumulation.
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