Report

The swine healthcare market is projected to register a CAGR of nearly 8.2% over the forecast period, 2022-2027.

The COVID-19 pandemic led to disruption in not only R&D activities of other therapies and drugs for medical conditions other than COVID-19 but also impacted the veterinary industry, as the logistics supply of various essential pharmaceutical products was negatively impacted. For instance, according to the research study published by Anna K. Johnson in December 2021, due to the COVID-19 pandemic, in Iowa, United States, the supply chain disruptions caused producer uncertainty, confusion, and stress, including time-sensitive challenges for maintaining animal care, and to overcome these challenges the Iowa Resource Coordination Center (IRCC) was created to support the swine welfare. Therefore, COVID-19 had an unprecedented impact on the swine healthcare market, but with the slowing down of the infections and large-scale vaccinations, the studied market is expected to reach the potential of the pre-COVID era.

The major factor driving the growth of the swine healthcare market is the rising incidence of swine diseases around the world, which is expected to drive the demand for swine healthcare products for diagnostics and treatment, thus driving growth in the studied market. For instance, according to the March 2022 update of the Food and Agriculture Organization (FAO) of the United Nations, since 2018, African Swine Fever (ASF) has been reported in the administrative area of the following countries - China, Mongolia, Vietnam, Cambodia, Democratic People's Republic of Korea, Myanmar, Philippines, Indonesia, India, Malaysia, and others, which shows a high prevalence of ASF in different countries of the world. Thus, the demand for diagnostics and treatment products for ASF is expected to increase, which is expected to fuel the growth of the studied market.

As per the research study published in September 2021 by Yin Li and Ian Robertson, swine influenza is a major health concern for the swine industry as swine influenza can not only cause large economic losses for the pig industry but can also lead to epidemics or pandemics in the human population, and it is one of the most ubiquitous diseases circulating in the global pig population. As per the same source, the major diagnostic techniques used for detecting swine influenza include serological methods (for e.g., hemagglutination inhibition (HI) test and enzyme-linked immunosorbent assay (ELISA)), molecular methods (for e.g., polymerase chain reaction (PCR)), and Virus isolation methods. Hence, with the growing burden of these diseases and awareness about them, the demand for swine healthcare products is anticipated to increase over the forecast period.

Moreover, the increasing demand for livestock products, along with increasing R&D investment in the area of novel therapeutics, is further expected to augment the growth of the swine healthcare market. For instance, in September 2021, the United States Department of Agriculture pledged up to USD 500 million from Commodity Credit Corporation for the prevention of African Swine Fever. The amount will be spent on expansion and coordination and monitoring and surveillance for the disease, along with other efforts. However, the stringent regulatory policies and high cost of swine healthcare products are expected to impede the growth of the swine healthcare market during the forecast period.

Swine Health Market Trends

Vaccines in the Therapeutics Segment is Expected to Hold a Major Share in the Studied Market

Vaccines consist of attenuated or killed microbes or microbial DNA, and upon administration, the immune system triggers a response that produces antibodies, thus increasing immunity. The new advanced vaccines have been manufactured, which contain genetically engineered components derived from disease-causing agents. They are given to pigs, usually by injection, to stimulate an immune response that will protect the pigs against later natural infection with the organism from which the vaccine was derived. Vaccines impart immunity to the pigs in the most efficient way and are highly effective. Hence, the vaccine segment is expected to grow significantly over the forecast period.

Owing to the high efficiency and effectiveness of the vaccines for swine health, the key companies, as well as academics research institutes, are investing heavily in the area of the development, approval, and launch of new vaccines, which is expected to fuel the growth in the studied market as a new product in the market will increase the competition in the studied market. For instance, in May 2020, India Immunologicals Limited (IIL) launched the Classical Swine Fever (CSF) vaccine, Raksha Class, in the market. The vaccine was developed in collaboration with Indian Veterinary Research Institute (IVRI) and is a cell culture technology-based vaccine. The positive outcome from the undergoing vaccine candidates is further expected to have a positive impact on the growth of the studied segment. For instance, as per the September 2021 report of the United States Department of Agriculture (USDA), one of its African Swine Fever Virus (ASFV) vaccine candidates has been shown to prevent and effectively protect both European and Asian-bred swine against the current circulating Asian strain of the virus. Therefore, with the high efficiency of vaccines against swine diseases, new launches, and research studies, the vaccine segment is expected to hold a major share in the studied market over the forecast period.

North America is Expected to Dominate the Swine Healthcare Market Over the Forecast Period

North America is expected to dominate the market due to the presence of a well-established swine industry and the rising incidence of swine infections, such as Swine Enteric Coronavirus Diseases (SECD), porcine epidemic diarrhea (PEDv), and porcine delta coronavirus (PDCoV), causing significant morbidity and mortality, particularly in young piglets. All these factors are collectively driving the growth of the studied market in the region.

In the North American region, the United States is expected to occupy a major market share in the swine healthcare market. According to the August 2019 report of the United States Department of Agriculture, the United States was the world's third-largest producer and consumer of pork and pork products. In recent years, the United States has been either the world's largest or second-largest exporter of pork and pork products, with exports averaging over 20% of commercial pork production in most years. The demand for swine healthcare products is anticipated to increase over the years to maintain the growth in the swine industry with the rising incidence of various swine diseases. For instance, according to the research study published in February 2019 by Bailey Arruda et al., porcine circovirus 3 is considered a putative cause of reproductive failure, encephalitis, and myocarditis in perinatal piglets, porcine dermatitis, and nephropathy syndrome, and periarteritis in swine in the United States. Several of the US government-run programs provide funding for research and development of therapeutics for swine diseases, which are further expected to augment the growth of the studied market in the country.

Swine Health Market Competitor Analysis

The market players in the swine health market are involved in various growth strategies such as collaborations, partnerships, agreements, mergers, and acquisitions, along with product development and launch to enhance the market presence. For instance, in May 2019, MSD Animal Health launched its Porcilis Ery+Parvo+Lepto combination vaccine for pigs. The swine healthcare market is moderately competitive. Some of the major market players in the studied market include Zoetis Animal Healthcare, Merck Animal Health, IDVet, Elanco, and Ceva Animal Health Inc.

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