According to the latest report by IMARC Group, titled “Foot and Mouth Disease (FMD) Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global foot and mouth disease (FMD) vaccine market size reached US$ 1846.30 Million in 2020. Foot and mouth disease (FMD) is an infectious animal disease affecting animal species, such as swine, sheep, cattle, and goats. It causes viral fever and blister-like sores on the lips, tongue, and teats; in the mouth; and between the hooves. The vaccine for FMD is nowadays widely used to protect the environment, society, and economy from the devastating impact of the disease. At present, the growing presence of veterinary centers is increasing the demand for FMD vaccines across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Foot and Mouth Disease (FMD) Vaccine Market Trends:
The rising prevalence of FMD, coupled with its socio-economic impact on international trade of animal products, is catalyzing the demand for FMD vaccines worldwide. Apart from this, the burgeoning meat industry and the rising consumption of dairy products are positively influencing the market growth. Furthermore, government bodies of several countries are introducing awareness campaigns for the protection of endangered wildlife species, such as antelopes and bison, against FMD. This, in confluence with the implementation of mandatory norms of cattle rearing, is driving the sales of FMD vaccines to prevent the spread of the disease. Other factors, including the increasing demand for high-grade and disease-free meat, are contributing to the market growth. Looking forward, the market value is projected to reach US$ 2,843.20 Million by 2026, expanding at a CAGR of 7.80% during the forecast period (2021-2026).
- Based on the animal type, the market has been segmented into cattle, pig, sheep and goat, and others.
- On the basis of the vaccine type, the market has been bifurcated into conventional (oil-based and aluminum hydroxide/saponin-based) and emergency vaccines.
- Based on the distribution channel, the market has been segregated into government organizations, distributors/pharmacies, private vets, and others.
- Region-wise, the market has been categorized into Asia Pacific (China, India, Bangladesh, Vietnam, Korea, and others); Latin America (Brazil, Mexico, and others); Middle East and Africa (Nigeria, Ethiopia, Iran, Algeria, and others); and Europe (Turkey, Georgia, and Armenia).
- The competitive landscape of the market has been examined, with some of the key players being Paramount Agrovet Pvt. Ltd., Bayer AG, Biogenesis Bago, Boehringer Ingelheim International GmbH, Brilliant Bio Pharma Private Limited, China Animal Husbandry Group, FGBI “Federal Center for Animal Health”, Indian Immunologicals Ltd., Limor De Colombia, Merck & Co., Inc., Vecol S.A and Vetal Animal Health Products Inc.
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