Swine Healthcare Market: Dynamics, Key Players, and Industry Projections till 2029 by TechSci Research

Manhattan , 05/08/2024 (informazione.it - comunicati stampa - industria)

Overview and Market Dynamics

According to the TechSci Research report, "Swine Healthcare Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029F," the Global Swine Healthcare Market stood at USD 2.82 billion in 2023 and is anticipated to grow with a CAGR of 8.30% through 2029. The globalization and trade dynamics play a significant role in boosting the global swine healthcare market by influencing market trends, driving demand for healthcare solutions, and shaping regulatory environments worldwide. The interconnected nature of the global economy and the movement of goods and services across international borders create both opportunities and challenges for the swine healthcare industry.

 

One of the primary ways in which globalization and trade dynamics impact the swine healthcare market is through the exchange of swine genetics, breeding stock, and pork products between countries. Global trade facilitates the transfer of genetic material and breeding stock to improve herd genetics and productivity, driving demand for healthcare solutions that ensure the health and well-being of valuable breeding animals.

The export and import of pork products create opportunities for market expansion and diversification, increasing the need for effective disease prevention and control measures to meet regulatory requirements and consumer expectations.

 

Browse  market data Figures spread through 180  Pages and an in-depth TOC on "Global Swine Healthcare Market”

 

How Does the Regulatory Scenario Shape this Industry?

Globalization exposes swine populations to the risk of disease transmission and introduces new pathogens into previously unaffected regions. The movement of live animals, feed ingredients, and other commodities across borders increases the likelihood of disease spread, necessitating stringent biosecurity measures, quarantine protocols, and international collaborations to prevent and control disease outbreaks. This heightened awareness of disease risks drives demand for innovative healthcare solutions, such as advanced diagnostics, vaccines, and biosecurity technologies, to safeguard swine health and maintain trade continuity.

Globalization and trade dynamics influence regulatory environments and market access for swine healthcare products and services. Regional trade agreements, tariff barriers, and sanitary regulations shape market dynamics and investment decisions in the swine healthcare sector. Harmonization of regulatory standards and mutual recognition agreements facilitate market access and promote international collaboration in research, development, and commercialization of healthcare solutions for swine.

 

Emerging Trends in the Swine Healthcare Market

The swine healthcare market is witnessing several emerging trends that are shaping its future:

1. Advancements in Diagnostics and Vaccines: The development of rapid and accurate diagnostic tools and innovative vaccines is crucial in combating swine diseases. Technologies like PCR and next-generation sequencing are enhancing disease detection capabilities.
2. Precision Medicine and Personalized Treatment: The adoption of precision medicine approaches in swine healthcare is on the rise. Tailoring treatments to individual animals or herds based on genetic and health data can significantly improve outcomes.
3. Sustainable Farming Practices: There is a growing emphasis on sustainable and ethical farming practices. This includes reducing antibiotic usage, improving animal welfare, and adopting biosecurity measures to prevent disease outbreaks.
4. Integration of Digital Technologies: The use of digital tools such as IoT devices, data analytics, and AI-driven solutions is becoming more prevalent in monitoring swine health, optimizing farm management, and predicting disease outbreaks.
5. Global Collaboration and Knowledge Sharing: International collaboration among researchers, veterinarians, and industry stakeholders is fostering knowledge exchange and accelerating the development of effective healthcare solutions.

 

Drivers of the Swine Healthcare Market

The growth of the swine healthcare market is driven by several key factors:

Rising Demand for Livestock-Related Products

The demand for livestock products has increased globally due to rising consumer incomes and population growth, which is anticipated to propel market expansion. According to the Agricultural 2018-2027 report by the Food and Agriculture Organization (FAO) and the Organization for Economic Co-operation and Development (OECD), some of the significant contributors to global meat production include the United States, China, Argentina, India, Mexico, the Russian Federation, and Turkey. The largest meat producer in the world is the People's Republic of China. "Our World in Data 2019" statistics show that approximately 340 million tons of meat were produced worldwide in 2018. The market is also anticipated to benefit from the fact that pig meat is the most popular meat in the world. In addition, antibiotics have been used extensively in animal production around the world for several years to treat, prevent, and control disease outbreaks, as well as to speed up animal growth and boost productivity.

 

Rising Investments in Research and Development to Create Novel Pharmaceuticals

Researchers worldwide are concentrating on developing efficient new therapeutics to prevent and treat swine-related diseases. There is an increasing need for therapeutics, which is expected to drive market growth over the forecast period. The African swine fever (ASF) vaccine is being developed in China by the Harbin Veterinary Research Institute (HVRI), which is a part of the Chinese Academy of Agricultural Sciences (CAAS). According to China's Ministry of Agriculture and Rural Affairs (MARA), 10,000 pigs were introduced into the expanded clinical and production trial stage in August 2020. This is expected to positively impact the market as it may create a novel, effective vaccine for African swine fever (ASF) in China.

 

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In addition, a contract to establish the Zoetis Incubator Research Lab and to launch a research collaboration on the livestock immune system was signed in July 2019 by Zoetis and Colorado State University. This agreement paves the way for new immunotherapies that could replace antibiotics in food-producing animals. Thus, it is anticipated that the market will grow over the forecast period due to rising research and development efforts in creating efficient novel therapeutics.

 

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. For instance, according to the March 2022 update of the FAO of the United Nations, African swine fever (ASF) has been reported in the administrative areas of the following countries, namely, China, Mongolia, Vietnam, Cambodia, the Democratic People's Republic of Korea, Myanmar, the 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 (e.g., hemagglutination inhibition (HI) test and enzyme-linked immunosorbent assay (ELISA)), molecular methods (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 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 the Commodity Credit Corporation to prevent African swine fever. The amount will be spent on expansion, coordination, monitoring, and surveillance of 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.

 

Top 10 Companies in the Global Swine Healthcare Market

The major companies operating in the Global Swine Healthcare Market are:

1. Boehringer Ingelheim International GmbH: Known for its innovative solutions in animal health, particularly in developing vaccines and therapeutics for swine diseases.
2. Ceva Santé Animale: A global player in veterinary healthcare, providing a wide range of pharmaceuticals and biologicals for swine health management.
3. Elanco Animal Health Incorporated: Specializes in developing products and services that prevent and treat disease in farm animals, including swine.
4. Innovative Diagnostics: Focuses on advanced diagnostic solutions that help in the early detection and management of swine diseases.
5. Merck KGaA: A leading company in the pharmaceutical industry, offering a variety of healthcare solutions for swine.
6. Vetoquinol SA: Provides a comprehensive range of veterinary products, including antibiotics, vaccines, and diagnostic tools for swine.
7. Virbac S.A.: Known for its extensive portfolio of veterinary products, including those targeting swine health issues.
8. Zoetis Inc.: A global leader in animal health, offering vaccines, diagnostics, and therapeutics for swine.
9. IDEXX Laboratories, Inc.: Renowned for its diagnostic solutions that aid in the accurate detection of swine diseases.
10. Phibro Animal Health Corporation: Focuses on developing and supplying a wide range of animal health products, including those for swine.

 

Top Segments in the Swine Healthcare Market

The Global Swine Healthcare Market is segmented into type, disease, regional distribution, and company.

Type

Based on type, the therapeutics segment is poised to emerge as the dominant segment in the global market in the coming years. Swine, being susceptible to a range of health issues, necessitates effective therapeutic interventions to maintain herd health and ensure productivity. The therapeutics segment encompasses a diverse array of pharmaceuticals and treatments tailored to combat various ailments affecting swine populations.

Disease

The major diseases impacting swine health include porcine reproductive and respiratory syndrome (PRRS), swine influenza, African swine fever (ASF), and porcine epidemic diarrhea (PED). Each of these diseases poses significant threats to swine health and productivity, driving the need for targeted healthcare solutions.

 

Regional Distribution

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 Disease (SECD), Porcine Epidemic Diarrhea (PEDv), and Porcine Delta Coronavirus (PDCoV). The region's emphasis on advanced healthcare solutions and sustainable farming practices further bolsters its market position.

Company

The competitive landscape of the swine healthcare market is characterized by the presence of several key players. These companies invest heavily in research and development to introduce innovative products and expand their market share.

 

Industry Key Highlights

• Global Market Value: The Global Swine Healthcare Market was valued at USD 2.82 billion in 2023 and is projected to grow at a CAGR of 8.30% through 2029.
• Key Drivers: Rising demand for livestock products, increased investment in R&D, globalization, and stringent biosecurity measures.
• Regional Insights: North America is poised to be the fastest-growing region, driven by technological advancements and high disease prevalence.
• Emerging Trends: Precision medicine, sustainable farming practices, and digital technology integration.
• Regulatory Impact: Harmonization of standards and international collaborations are crucial for market growth.

 

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