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.
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.
Browse Details of Report @ http://www.grandviewresearch.com/industry-analysis/foot-mouth-disease-fmd-vaccine-market
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