Global Foot And Mouth Disease Vaccine market research 2024, Forecast To 2033
4 Mar, 2024
The foot and mouth disease vaccine market has seen strong growth, anticipated to increase from $2.4 billion in 2023 to$2.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. This growth is attributed to multivalent vaccine development, disease prevalence, and government initiatives. Forecasts suggest strong growth, with the market expected to reach $3.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The forecasted expansion is driven by climate change effects, emergence of new strains, digitalization, vaccine safety, precision livestock farming, and international aid. Major trends include eradication initiatives, multivalent vaccines, public-private partnerships, diagnostics, genomic surveillance, and marker vaccines.
Global Foot And Mouth Disease Vaccine Market Key Driver
The growing livestock population is driving the foot and mouth disease vaccine market. Livestock is farm animals housed, reared, and utilized by humans, including cows, horses, and pigs. There is a rise in the livestock population because of an increase in demand for animal products. As livestock increases, there is a chance of the prevalence of foot and mouth disease that can lead to market growth. For instance, according to a report published by the US Department of Agriculture in 2022, India's national herd of cattle increased from 1.2 million in 2021 to 306.7 million in 2022. Therefore, the growing livestock population will propel the foot and mouth disease vaccine market. The foot and mouth disease vaccine market was valued at $3.6 billion in 2023 and is anticipated to reach $5.9 billion by 2028.
Get A Free Sample Of The Global Foot And Mouth Disease Vaccine Market ReportGlobal Foot And Mouth Disease Vaccine Market Segments
The global foot and mouth disease vaccine market covered in this report is segmented –
1) By Vaccine Type: Conventional Vaccines, Oil Based Vaccines, Aluminium Hydroxide/Saponin Based Vaccines, Emergency Vaccines
2) By Animal Type: Cattle, Pig, Sheep and Goat, Other Animals
3) By Distribution Channel: Government Organizations, Distributors/ Pharmacies, Private Vet, Other Distribution Channels
By Geography: The regions covered in the foot and mouth disease vaccine market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the foot and mouth disease vaccine market in 2023. The regions covered in the foot and mouth disease vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Foot And Mouth Disease Vaccine Industry Players
Godrej Agrovet Limited, Biogénesis Bagó S.A., Indian Immunologicals Limited, Limor de Colombia, Merck & Co. Inc., Brilliant Bio Pharma Ltd., Intervet India Private Limited, Biovet Private Limited, China Animal Husbandry Group, C.H. Boehringer Sohn AG & Co. KG, VECOL S.A, VETAL Animal Health Products Inc., The Spirit Jinyu Biological Pharmaceutical Co. Ltd., Careside Co. Ltd., Dong Bang Co. Ltd., FGBI-ARRIAH, NAVETCO NATIONAL VETERINARY JOINT STOCK COMPANY, vetvaco national veterinary joint stock company, Ceva Santé Animale, MEVAC, Agrovet Market S.A., Alivira Animal Health Limited, Anicon Labor GmbH, Southern Cross Group, SPIC Gene Science Technology Development Co. Ltd., SRI International, Syngenta Animal Health, Vemedim Corporation, Veterinary Laboratories Agency, Zoetis Inc.
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Foot And Mouth Disease Vaccine Market Overview
Foot-and-mouth disease (FMD) vaccines are a medication used to boost the immune system's defenses in animals against foot-and-mouth disease. FMD is a severe and highly infectious disease affecting all cloven-hoofed animals, including cattle, sheep, goats, camelids, deer, and pigs. Animals with the foot-and-mouth disease have a high body temperature, followed by blisters, primarily on the feet and in the mouth.
Foot And Mouth Disease Vaccine Global Market Report 2023 provides data on the global foot and mouth disease vaccine market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The foot and mouth disease vaccine market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.