The global market for porcine vaccines is projected to expand at an astounding 7% from 2017 to 2025, says a new report from Transparency Market Research. The market was valued at $1.784 billion in 2016.
Titled “Porcine Vaccines Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”, the report says North America and Europe are projected to dominate the global market during the forecast period, due to the increase in demand for pork and high adoption of vaccines for animal health by veterinarians and researchers.
With growing health challenges, the Asia Pacific market is expected to rapidly expand their use of porcine vaccines in the forecast period as well. Latin America is expected to remain steady.
Additional value-added features offered by animal healthcare companies will help hog producers streamline the day-to-day workflow and increase animal health, the report adds. This includes technological advances in vaccine manufacture that reduce vaccination costs.
A growing number of biotechnological companies are engaging in research and development of porcine vaccines for major diseases such as African swine flu and porcine circovirus associated disease.
The live attenuated vaccines segment is estimated to hold a major market share by the end of 2017, due to increase in broader cross-protective immunity. The segment is likely to be driven by increase in the occurrence of new virus strains of PCVAD or PRRSV and chances of reverse reaction of vaccination, which can infect healthy swine and can spread to the herd. Live attenuated vaccines facilitate outcomes in the treatment of classical swine fever (CSF). Increase in major losses in pig farming due to CSF is likely to fuel the segment during the forecast period.
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