Global Swine Fever Vaccine Market, by Type (African Swine Fever and Classical Swine Fever), by Vaccine Type (Live-Attenuated, Chimeric (Live-attenuated or inactivated), Subunit or vector system based, and Replicon vaccine), by Distribution Channel (Public and Private), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,724.5 Million in 2022 and is expected to exhibit a CAGR of 5.9% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased funding by various government and non-government organizations to create awareness about swine fever is expected to drive the market growth over the forecast period. For instance, in June 2022, the Michigan Alliance for Animal Agriculture (M-AAA), a partnership between the Michigan Department of Agriculture & Rural Development (MDARD), animal agriculture industry groups, and Michigan State University aimed at advancing the animal agriculture economy across the state, invested more than US$ 2.3 million for 26 new research and outreach projects in 2022. One of the projects was to assist producers with biosecurity planning to prevent and respond to disease outbreaks such as avian influenza and African swine fever. The project will support the development of an expert team to assist producers in preparedness for disease outbreaks, provide verification and tracking of biosecurity plans, and produce educational materials.
Global Swine Fever Vaccine Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
Likewise, the COVID-19 pandemic had made a negative impact on the global swine fever vaccine market, owing to the reduced access to veterinarians and problems related to transportation. For instance, according to an article published by the National Center for Biotechnology Information (NCBI) in September 2020, limited access to the veterinary dispensary or even veterinarians and also problems related to the transportation of animals to the polyclinic at the time of need led to a high level of morbidity of diseases and at times death of the animals.
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Swine Fever Vaccine Market”- Forecast to 2030, Global Swine Fever Vaccine Market, by Type (African Swine Fever and Classical Swine Fever), by Vaccine Type (Live-Attenuated, Chimeric (Live-attenuated or inactivated), Subunit or vector system based, and Replicon vaccine), by Distribution Channel (Public and Private), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing grants from governments and various research foundations to the key players in the market to develop swine fever vaccines are expected to drive the market growth over the forecast period. For instance, in April 2022, the Foundation for Food & Agriculture Research (FFAR) provided a grant of US$ 145,000 to Genvax Technologies, a startup animal vaccine company, to develop a self-amplifying messenger RNA (saRNA) vaccine for African Swine Fever (ASF) in collaboration with the United States Department of Agriculture-Agricultural Research Services-Plum Island Animal Disease Center (USDA-ARS-PIADC).
Key Takeaways of the Global Swine Fever Vaccine Market: