The North America porcine vaccines market is fairly fragmented with the presence of several small and medium-sized companies competing against each other and with large players. However, the marketplace is dominated by few players; the top four companies—Merial Animal Health, Elanco Animal Health, Merck Animal Health, and Zoetis, Inc.— accounting for a combined share of 74.0% in the global market in 2015, notes Transparency Market Research (TMR). The leading players are diversifying their product portfolio, pursuing strategic acquisitions, and actively expanding their geographic presence to consolidate their shares. In addition, they are investing in intensive R&D activities and introducing new vaccines in a timely manner to gain a competitive edge over others.
According to TMR, the North America porcine vaccines market stood at US$540.9 mn in 2015 and is anticipated to reach a valuation of US$926.2 mn by 2024. The market is estimated to rise at a CAGR of 5.3% from 2016 to 2024.
Inactivated Porcine Vaccines Remain Most Preferred in Pork Industry
On the basis of country, the North America porcine vaccine market is bifurcated into the U.S. and Canada. The U.S. porcine vaccines market accounted for a major share of 63% in North America in 2015. Expanding at a steady rate, the U.S. market is anticipated to register a CAGR of 6.6% from 2016 to 2024. The impressive growth is due to availability of advanced infrastructure stimulating immunological researches, presence of several key players, and a well-organized farming structure. Additionally, the rising demand for animal protein and increasing expenditure by several farm owners on porcine health are anticipated to propel the U.S. market for porcine vaccines over the forecast period.
Based on the technology employed to develop porcine vaccines, the North America market has been segmented into inactivated vaccines, recombinant vaccines, live attenuated vaccines, toxoid vaccines, conjugate vaccines, and DNA vaccines. Of these, inactivated vaccines dominated the North America porcine vaccine market with the segment accounting for an estimated share of 53.3% in 2016. The market for inactivated vaccines is anticipated to show the most promising growth, rising at a CAGR of 6.7% during 2016 – 2024. The steady growth is attributed to the increasing efficacy and potential of inactivated porcine vaccines for the treatment of porcine reproductive and respiratory syndrome (PRRS), one of the most common infectious diseases affecting pigs. Furthermore, intensive researches to develop safe, efficacious, and protective inactivated vaccines for the control and eradication of the PRRS virus (PRRSV) and other viral diseases in swine have fuelled the regional market.
Lack of Proper Storage Conditions May Limit Efficacy of Porcine Vaccines
The North America porcine vaccines market is primarily driven by the increasing prevalence of swine diseases, rising investment to manage the health of swine herd, and considerable advances in vaccine technology. The rising demand for meat worldwide and soaring consumption of pork in North America are the factors spurring the demand for porcine vaccines to control zoonotic diseases. Increasing concern of players in the pork industry regarding treating and controlling the outbreak of infectious swine diseases has also boosted the market for porcine vaccines in North America.
However, the lack of proper storage conditions and storage requirements may restrict the efficacy of porcine vaccines, hindering the growth of the market to some extent. This mandates the maintenance of proper supply chains across manufacturers and healthcare providers. The stringent storage requirements call for maintaining an adequate storage temperature for these vaccines, otherwise it may adversely affect the antigen or adjuvant. The high cost incurred in the disposal of wasted vaccines caused due to the loss of efficacy before the expiry period is likely to affect the North America porcine market as well.
Be that as it may, an upsurge in innovation in the development of safe inactivated vaccines for porcine epidemic diarrhea virus (PEDV) and PRRSV are expected to unlock exciting opportunities for the market players. Coupled with this, advances in adjuvants added to augment the immune responses in pigs are encouraging developments in the market.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Porcine Vaccine Market (Disease Indication - Diarrhea, Swine Influenza, Arthritis, Bordatella Rhinitis, Porcine Reproductive and Respiratory Syndrome Virus (PRRSV), and Porcine Circovirus Associated Disease (PCVAD); End User - Veterinary Hospitals and Hog/Pig Production Farms; Technology - Inactivated Vaccines, Live Attenuated Vaccines, Toxoid Vaccines, Recombinant Vaccines, Conjugate Vaccines, and DNA Vaccines) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024"
The North America porcine vaccine market is segmented into:
- Swine Influenza
- Bordatella Rhinitis
- Porcine Reproductive and Respiratory Syndrome Virus (PRRSV)
- Porcine Circovirus Associated Disease (PCVAD)
- Nuclear Reactors
- Ambulatory Surgical Centers
- Diagnostic Centers
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