The global foot and mouth disease (FMD) vaccine market is expected to reach USD 3.0 billion by 2025, according to a new report by Grand View Research, Inc. Increase in incidence of FMD and their socioeconomic impact over international trade of animal products are propelling the demand for FMD vaccines. In addition, effectiveness for lower time period propels repeat purchase of vaccines.
This market is highly competitive and various government entities intervene for bulk purchase of vaccines. There has been a dynamic growth in the global livestock population over the past few decades. In developing countries, the demand for livestock products is increasing owing to which concern for healthy livestock population is increasing.Rising demand for animal products has revolutionized the global livestock production. In addition, factors such as change in food preferences owing to changing lifestyle coupled with growing population are anticipated to boost the demand for livestock products.
Increased adoption of oil-based vaccines owing to their higher efficacy is expected to contribute to the largest share of conventional vaccines. Available conventional vaccines are effective in the prevention of clinical diseases; however, they offer protection for a shorter duration. Hence, as a prophylactic measure, frequent vaccination becomes necessary.
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Further Key Findings from the Report:
Conventional vaccines emerged as the largest segment because of increasing approvals of vaccines and higher efficacy
The cattle segment accounted for the largest share in the animal type segment owing to increase in domestic livestock population and number of outbreaks
Sheep and Goat segment is expected to grow at the fastest rate over the forecast period owing to rising incidence of FMD infection in sheep population and the need for reducing slaughter of infected animals.
Asia Pacific dominated the market with the largest share in 2016. Rise in incidence of FMD and increase in demand for livestock products are facilitating dominance of the region during the forecast period.
Key players including Agrovet Co.; Biogénesis Bago; Empresa Colombiana de Productos Veterinarios S.A. Vecol S.A.; FGBI - Federal Centre for Animal Health ; Indian Immunologicals Limited ; Merial (France); Veterinary Serum and Vaccine Research Institute; FMD Center; and Limor de Colombia are leading the global FMD vaccine market.
Grand View Research has segmented the global foot and mouth disease vaccine market based on technique, animal type, and region:
Technique Outlook (Revenue, USD Million, 2014 - 2025)
Aluminum hydroxide/Saponin-based vaccines
Animal Type Outlook (Revenue, USD Million, 2014 - 2025)
Sheep and Goat
Others (antelope, deer, bison, camelids)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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