by Poultry vaccines are biological preparations that help poultry immune system (especially chickens and turkeys) to effectively respond to a specific disease. Commonly used poultry vaccines protect poultry from infectious diseases such as Marek’s disease, Newcastle disease, infectious bronchitis and avian influenza. With rapidly growing demand for meat and eggs worldwide, industrial poultry farming has exponentially increased in past few decades. High density living conditions in poultry farms increases the risk of infections, making vaccination key to control diseases and prevent severe economic losses to the industry.
The global poultry vaccine market is estimated to be valued at US$ 1900.4 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the poultry vaccine market is innovations in vaccine production technologies. With advancements in biotechnology and immunology, novel adjuvants, live vector vaccines, plasmid DNA vaccines and reverse genetics techniques are being developed to offer more effective vaccines. Live vector vaccines exploit replication-defective viral or bacterial vectors like herpesviruses to deliver vaccine antigens. Compared to inactivated vaccines, live vector vaccines provide stronger and longer lasting immunity with single dose administration. They have shown excellent protection against infectious laryngotracheitis virus and Marek’s disease in poultry. Development of improved diagnostics is another trend, enabling early and accurate identification of infectious diseases in flocks for timely preventive vaccination.
Porter’s Analysis
Threat of new entrants: The poultry vaccine market has moderate threat from new entrants as research and development require huge investments and regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have availability of substitute products and switching cost is low.
Bargaining power of suppliers: The bargaining power of suppliers is low due to presence of numerous suppliers in the market.
Threat of new substitutes: Threat from substitutes is low as there are limited substitute products for poultry vaccines.
Competitive rivalry: The competitive rivalry in the market is high due to presence of global as well as local players.
Key Takeaways
The global Poultry Vaccine Market Trends is expected to witness high growth. The global poultry vaccine market is estimated to be valued at US$ 1900.4 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030.
North America region is expected to dominate the global poultry vaccine market during the forecast period. High disease awareness and government support for poultry immunization in the region drives the market growth. Asia Pacific region is expected to grow at the fastest rate during the forecast period. Increasing poultry production and growing meat consumption in countries like China and India creates demand for poultry vaccines in the region.
Key players:
Key players operating in the poultry vaccine market are GlaxoSmithKline plc, AbbVie Inc., Merck & Co., Inc., Dr. Reddy’s Laboratories Ltd., F. Hoffmann-La Roche AG, Bristol-Myers Squibb Company, Johnson & Johnson Services, Inc., Cipla Inc., Aurobindo Pharma, and Gilead Sciences. Major players are investing in research and development to develop new vaccine saolutions and focusing on emerging markets for business expansion.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
