Porcine vaccines are substances administered to provide active acquired immunity against diseases in pigs such as classical swine fever, porcine reproductive and respiratory syndrome (PRRS), foot-and-mouth disease, and porcine epidemic diarrhea. Porcine vaccines aid in prevention of infectious diseases in swine, which reduces economic losses for farmers and improves their health. The global porcine vaccines market size is estimated to be valued at US$ 2.4 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity
Growing Demand for Disease Control in Swine Producing Regions
Pig production is a major agricultural industry worldwide with China being the top producer. High incidence of infectious diseases has led to significant economic losses for pig farmers. For instance, porcine epidemic diarrhea virus (PEDV) causes severe diarrhea, vomiting and mortality in pigs resulting in large production losses. Rising demand for meat consumption coupled with growing focus on controlling diseases is expected to drive the demand for effective vaccines. Moreover, supportive policies by governments regarding vaccination of pigs present lucrative growth opportunities for players in the porcine vaccines market during the forecast period.

Porter’s Analysis
Threat of new entrants: The porcine vaccines market is moderately difficult to enter due to substantial costs involved in research and development, stringent regulations and established brand loyalty. However, open distribution channels provide opportunities for small manufacturers.
Bargaining power of buyers: Buyers have moderate bargaining power. However, stringent regulation and the requirement of regular vaccination programs limit switching between suppliers.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to scientific expertise required and intellectual property rights over brand names. However, established suppliers face competition from alternative suppliers.
Threat of new substitutes: Threat of substitution is low as vaccines are integral to porcine health management with no cost-effective alternatives. However, immunomodulators and bacterins pose a mild threat.
Competitive rivalry: Intense due to different brands offering similar protection. Players compete on innovation, production scale, patents and regional expansion.

SWOT Analysis
Strengths: Effective disease prevention, improved production output, compliance with regulatory standards.
Weaknesses: High RD costs, sensitivity to consumer safety issues, supply chain disruptions.
Opportunities: Rising meat consumption, expansion in developing countries, technologically advanced products.
Threats: Stringent regulations, international trade barriers, environmental footprints.

Key Takeaways
The global porcine vaccines market is expected to witness high growth over the forecast period. Europe dominated the market in 2023, accounting for over 30% of global revenue due to stringent hygiene standards and organized farming practices. Asia Pacific is poised to grow at the fastest pace during 2023-2030 driven by rising meat consumption in China and India.

Key players operating in the porcine vaccines market are Boehringer Ingelheim International GmbH. (Germany), FORMOSA BIOMEDICAL INC. (Taiwan), Zoetis (U.S.), Dechra Pharmaceuticals PLC (U.K.), Hester Biosciences Limited. (India), Merck Co., Inc. (U.S.), Novartis AG (Switzerland), Elanco (U.S.), Phibro Animal Health Corporation (U.S.), HIPRA, S.A (Spain), Bimeda, Inc (Ireland), Ceva (France), ARKO Laboratories (U.S.). Regional analysis related content focuses on increasing swine herd sizes and rising pressures of diseases like porcine reproductive and respiratory syndrome virus (PRRSV) and swine influenza in developing Asian countries like China and India. This will drive significant growth opportunities for vaccine manufacturers in the region over the forecast period