SEATTLE, July 27, 2022 /PRNewswire/ -- According to Coherent Market Insights, the global foot and mouth disease vaccine market is estimated to be valued at US$ 2,396.3 million in 2022 and is expected to exhibit a CAGR of 9.4% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Foot and Mouth Disease Vaccine Market:
Increasing number of livestock in different regions is increasing vulnerability for Foot and Mouth Disease outbreak. For instance, Chinese provenience of Guizhou faced FMD incidence in January 2018, which majorly affected Swine producers in the region. China has high number of swine headcount and it is a major consumer of pork. India has total bovinae headcount of 200.3 million as per National Dairy Development Board of China update in June 2017, therefore it is also highly susceptible to FMD.
Moreover, in March 2022, according to data published by PubMed, India being top most country in supplying milk has increasing number of livestock every year. Large ruminants in India are reared mainly for milk production and also for the field work in the farmland. During foot and mouth disease outbreaks, there can be economic loss of up to 80.68% attributed to reduced milk yield. Hence, to contain economic losses due to FMD, vaccination to susceptible livestock population is a must. India hosts 43 indigenous cattle breeds and 13 buffalo breeds (milk and draft purpose breeds).Hence, due to more number of livestock in India the number of vaccines required is increasing consistently.
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Key Market Takeaways:
Global foot and mouth disease vaccine market is expected to exhibit a CAGR of 9.4% during the forecast period due to increasing government initiatives for creating awareness about carrying out vaccination for foot and mouth disease for animals. For instance, in May 2022, the Center for Pharma Veterinary (Pusvetma) of the Ministry of Agriculture had begun production of vaccine for foot and mouth disease (FMD) in livestock to avoid an outbreak of the foot and mouth disease in Indonesia. With the administration of FMD vaccine, Indonesia is expected to become free from the foot and mouth disease up till 2028.
Among vaccine type, conventional vaccine segment holds maximum market share. Majority of the manufacturers produce oil-based vaccine (oil as adjuvants). Aluminum hydroxide-based vaccines are gaining significant traction.
Among animal type, cattle segment is expected to dominate the FMD vaccine market due to dairy products, beef, and meat demand globally. Furthermore, swine would be second most dominating animal in the FMD vaccine market considering large consumption and global headcount of swine in countries such as China.
Key players operating in the global foot and mouth disease vaccine market include Agrovet, Indian Immunologicals Ltd., MSD Animal Health, Vallee SA, Bayer HealthCare, Brilliant Bio Pharma Ltd., Intervet, Biovet, Merial, China Animal Husbandry Co., Ltd., Biogénesis-Bagó S.A, Vetal Animal Health Products S.A.VETAL Animal Health Products, and Vecol S. A.
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Detailed Segmentation:
Global Foot and Mouth Disease Vaccine Market, By Vaccine Type:
- Conventional Vaccine
- Aluminum Hydroxide based vaccine
- Oil based vaccines
- Emergency Vaccines
Global Foot and Mouth Disease Vaccine Market, By Animal Type:
- Cattle
- Sheep and Goat
- Swine
- Others
Global Foot and Mouth Disease Vaccine Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- Europe
- By Country:
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- By Country:
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- By Country:
- GCC Countries
- Israel
- South Africa
- Rest of Middle East & Africa
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