As per the report by Transparency Market Research, the North America market for porcine vaccine will reach a valuation of US$926.2 mn by 2024 from its initial value of US$540.9 mn in 2015, growing at a steady CAGR of 5.3% in the forecast period. The market growth will be profitable for a large number of players, including Bimeda Animal Health, Bayer AG., Merck & Co., Inc., Merial (Sanofi), Ceva Santé Animale, Vetoquinol, Zoetis, Inc., Boehringer Ingelheim GmbH, and Elanco.
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Which vaccine segment is known to offer better immunity against infections?
In term of technology for the development of vaccines, the North America porcine vaccines market is classified into live attenuated vaccines, inactivated vaccines, toxoid vaccines, DNA vaccines, recombinant vaccines, and conjugate vaccines. Among the mentioned categories, the inactivated vaccines segment has largely contributed to the market in 2016, accounting for over 53.0% share.
In spite of high growth of the inactivated vaccines segment, the live attenuated vaccines segment is predicted to exhibit a robust CAGR in the said period. This segment will be favored due to increased incidence of zoonotic disease, escalating number of swine farms, and rise in investments by major players.
Owing to increase in R&D investments and rise in demand, DNA vaccines will also emerge as a high-growth segment. The demand for these vaccines is expected to grow remarkably in the forecast period. These vaccines have shown exceptional results as they offer stronger immunity against homologous infections and have also scored well in terms of approval from regulatory bodies in the region, thereby propelling the market growth.
Why are cold chains a hindrance to market growth?
To ensure high success rate of vaccines against any vaccine-preventable disease, appropriate handling and storage is crucial. If the vaccines are not stored or handled in the most suitable manner it can lead to losses worth thousands of dollars in revaccination and wasted vaccine, managing, and conserving proper cold chains.
These cold chains are required to be maintained in the supply chain – right from manufacturers to healthcare providers. There is a significant amount of money riding on these cold chains. To maintain these storage and handling conditions, high costs are involved, which also acts as a major hindrance for the North America porcine vaccine market.