R&M: Swine vaccine market to surpass $2B
The global market for swine vaccines is expected to grow by a CAGR of 4.9%, according to a report by the analysis company, ResearchAndMarkets.com. The increase during the forecast period of 2021 to 2028 will bring the market’s valuation to an anticipated $2.09 billion by 2028.
After COVID-19 slowed the market through impact on the operations, supply, and finances of swine vaccine-related companies, the report points to ongoing growth as investment is made in the space. The market is expected to grow as demand for meat increases, as companies innovate in vaccine technologies, and as continued investment is made in future research and development.
For instance, certain diseases like Foot & Mouth, Classical Swine Fever, Porcine Parvovirus (PPV), Porcine Reproductive and Respiratory Syndrome (PRRS), and Porcine circovirus type 2 (PCV2) are present in farms and continue to threaten the relevant marketplaces. Innovations, including in better diagnosing disease, are expected to spur the market. At the same time, companies are continuing to acquire and merge, leading to growth in investment.
When evaluating the market by segments, the recombinant vaccine sector is anticipated to grow at the greatest CAGR rate based on advanced technology, improved efficacy, and prolonged effect. This comes after attenuated vaccines held the largest share in 2020. By disease segment, the 2020 marketplace was led by Porcine circovirus type 2, which had led to high rates of disease and mutations.
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