(MENAFN- GlobeNewsWire - Nasdaq) The Global Swine Healthcare market Size was Valued at USD 2.72 Billion in 2023 and the Worldwide Swine Healthcare Market Size is Expected to Reach USD 5.96 Billion by 2033, according to a research report published by Spherical Insights & Consulting. Companies covered: Boehringer Ingelheim International GmbH, Ceva Santé Animale, Elanco Animal health Incorporated, Vetoquinol SA, Virbac S.A., Zoetis Inc., IDEXX Laboratories, Inc, Phibro Animal Health Corporation, Innovative Diagnostics, Merck KgaA, Other key vendors.
New York, United States , July 23, 2024 (GLOBE NEWSWIRE) -- The Global Swine Healthcare Market Size is to Grow from USD 2.72 Billion in 2023 to USD 5.96 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.16% during the projected period.
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The health of pigs and the diseases they carry are related to the development of remedies to prevent related illnesses and disorders. Pig breeding might lead to several ailments, including reproductive abnormalities and congenital malformations. Governmental groups are starting programs to protect and enhance the health of pigs to decrease the impact of swine infections on humans. To lessen the suffering brought on by swine infections, a broad range of products, therapies, and diagnostic instruments are included in swine healthcare. It focuses on creating treatments for congenital malformations and infertility, as well as prevention strategies for these prevalent pig-related issues. The increasing demand for pig products is largely responsible for the growth of the global swine healthcare sector. This increase in demand might be attributed to several factors, including population expansion, rising disposable incomes, urbanization, and changing dietary patterns, especially in emerging countries. Two outcomes of emerging countries' increasing wealth are rising purchasing power and an increase in the consumption of animal proteins, especially pig. This change is particularly apparent in countries where rising urbanization is causing dietary patterns to change and where pig is typically considered the primary source of protein in traditional cuisines. However, the management of pig-related diseases has resulted in a dramatic rise in the price of diagnostic and treatment services, which is expected to impede market expansion.
Browse key industry insights spread across 240 pages with 110 Market data tables and figures & charts from the report on the " Global Swine Healthcare Market Size, Share, and COVID-19 Impact Analysis, By Product (Diagnostic Tests, and Therapeutics), By Disease (Exudative Dermatitis, Coccidiosis, Respiratory Diseases, Swine Dysentery, and Porcine Parvovirus), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The therapeutic segment is anticipated to hold the greatest share of the global swine healthcare market during the projected timeframe.
Based on the product, the global swine healthcare market is divided into diagnostic tests and therapeutic. Among these, the therapeutic segment is anticipated to hold the greatest share of the global swine healthcare market during the projected timeframe. The therapeutics category includes vaccines, feed additives, anti-infectives, and parasiticides. Pigs are vaccinated, most commonly intraperitoneally, to elicit an immune response that might protect against an eventual infection with the organism that produced the vaccine later on.
The respiratory diseases segment is anticipated to hold the largest share of the global swine healthcare market during the projected timeframe.
Based on the disease, the global swine healthcare market is divided into exudative dermatitis, coccidiosis, respiratory diseases, swine dysentery, and porcine parvovirus. Among these, the respiratory diseases segment is anticipated to hold the largest share of the global swine healthcare market during the projected timeframe. Pneumonia is a prevalent respiratory disease with a negative influence on morbidity and mortality rates around the world. Animals that are affected by these illnesses might suffer consequences that cost producers money. Computer vision technology can assist in the early detection of Actinobacillus pleuropneumonia infection in pigs as well as alterations in swine physiology through the use of thermal infrared and RGB (red, green, and blue) imaging.
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North America is expected to hold the largest share of the global swine healthcare market over the forecast period.
North America is expected to hold the largest share of the global swine healthcare market over the forecast period. Moreover, the growing prevalence of various animal diseases has been identified as the primary driver of market expansion. A growth in government animal welfare efforts, a rise in the number of consumers, and the evolution of animal healthcare have all contributed to the global swine healthcare sector. Diseases including swine influenza, porcine reproductive and respiratory syndrome (PRRS), and various bacterial infections can affect swine health and productivity. As a result, the need for prescription drugs, vaccines, and diagnostic tools is rising.
Europe is predicted to grow at the fastest pace in the global swine healthcare market during the projected timeframe. The government's enhanced efforts and improvements in veterinary care and diagnostics have led to a growth in the German marketTo grow the regional market, the nation's major corporations will work together faster. Additionally, the German Cabinet has approved new standards for the use of antibiotics in cattle as part of the German Antibiotic Resistances Strategy DART 2020. These regulations affect the nation's anti-infective business.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global swine healthcare market include Boehringer Ingelheim International GmbH, Ceva Santé Animale, Elanco Animal Health Incorporated, Vetoquinol SA, Virbac S.A., Zoetis Inc., IDEXX Laboratories, Inc, Phibro Animal Health Corporation, Innovative Diagnostics, Merck KgaA, Others.
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Recent Developments
In January 2024, S&P Global Animal Health has awarded CIRCUMVENT CML the title of Best New Food Animal Product. This information was released by MSD Animal Health, a company of Merck & Co., Inc. As the first and only readily available, single-dose intramuscular injectable vaccine, CIRCUMVENT CML is a revolutionary development. It is intended to protect pigs three weeks of age or older against diseases caused by Lawsonia intracellularis, Mycoplasma Hyopneumoniae, and Porcine Circovirus Types 2a and 2d.
In June 2022, the program to tackle African swine disease was started by AVAC Vietnam Company Limited. The US Department of Agriculture's Agricultural Research Service verified its safety and effectiveness.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global swine healthcare market based on the below-mentioned segments:
Global Swine Healthcare Market, By Type
Diagnostic Tests Therapeutics
Global Swine Healthcare Market, By Component
Exudative Dermatitis Coccidiosis Respiratory Diseases Swine Dysentery Porcine Parvovirus
Global Swine Healthcare Market, Regional Analysis
North America Europe Germany Uk France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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