How Has The Foot And Mouth Disease Vaccine Market Size Evolved In Recent Years?
The foot and mouth disease vaccine market has seen considerable growth due to a variety of factors.
• The market size for the foot and mouth disease vaccine has seen substantial growth in the past few years. It is projected that the market will expand from $2.61 billion in 2024 to $2.84 billion in 2025, progressing at a compound annual growth rate (CAGR) of 8.9%. Factors contributing to this historical growth include the creation of multivalent vaccines, the widespread occurrence of foot and mouth disease, government strategies for disease management, emphasis on food security, the financial impact of FMD outbreaks, as well as investments in research and development.
What Is The Projected Growth Of The Foot And Mouth Disease Vaccine Market Size In The Coming Years?
The Foot And Mouth Disease Vaccine market is expected to maintain its strong growth trajectory in upcoming years.
• The market for foot and mouth disease vaccines is projected to experience a swift expansion over the upcoming years, with a predicted worth of $4.17 billion in 2029 and a compound annual growth rate (CAGR) of 10.1%.
Several factors that contribute to this predicted growth include the influence of climate change on disease dissemination, the introduction of new Foot & Mouth Disease (FMD) strains, the digitalization of vaccine distribution, improved cold chain infrastructure for vaccines, constant enhancements in vaccine safety, and the incorporation with precision livestock farming. Furthermore, international aid supporting vaccination initiatives greatly back this growth. Upcoming trends within the forecast period include global FMD eradication efforts, the creation of multivalent vaccines, collaborations between public and private sectors, advancements in diagnostic and surveillance technology, biotech innovations, genomic monitoring, and an increased use of marker vaccines.
What Are The Key Drivers Fueling Growth In The Foot And Mouth Disease Vaccine Market?
The escalating numbers of livestock are fueling the market for the foot and mouth disease vaccine. Livestock, such as cows, horses, and pigs, are farm creatures that humans breed, house, and exploit. The upsurge in the livestock populace is due to the rising demand for animal goods. With the swell in livestock, the potential for the proliferation of foot and mouth disease increases, which could catalyze market expansion. For example, a 2022 report from the US Department of Agriculture revealed that the total cattle population in India ascended from 1.2 million in 2021 to 306.7 million in 2022. Thus, the escalating livestock populace stands to boost the foot and mouth disease vaccine market.
What Are The Principal Market Segments In The Global Foot And Mouth Disease Vaccine Industry?
The foot and mouth disease vaccine market covered in this report is segmented –
1) By Vaccine Type: Conventional Vaccines, Oil Based Vaccines, Aluminum Hydroxide Or Saponin Based Vaccines, Emergency Vaccines
2) By Animal Type: Cattle, Pig, Sheep And Goat, Other Animals
3) By Distribution Channel: Government Organizations, Distributors Or Pharmacies, Private Vet, Other Distribution Channels
Subsegments:
1) By Conventional Vaccines: Inactivated Whole Virus Vaccines, Live Attenuated Vaccines, Oil-Based Vaccines
2) By Oil-Based Vaccines: Oil Emulsion Vaccines, Oil Adjuvanted Vaccines, Aluminum Hydroxide OrSaponin Based Vaccines
3) By Aluminum Hydroxide Or Saponin Based Vaccines: Aluminum Hydroxide Adjuvanted Vaccines, Saponin Adjuvanted Vaccines
4) By Emergency Vaccines: DIVA (Differentiating Infected From Vaccinated Animals) Vaccines, Rapid Response Vaccines
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Which Emerging Market Trends Are Altering The Foot And Mouth Disease Vaccine Industry?
The establishment of strategic alliances is a prevailing trend within the foot-and-mouth disease vaccine market. Dominant market players are forming partnerships to mutually benefit from one another's resources and penetrate new markets. For example, in July 2022, Biogénesis Bagó, an Argentinian biotech firm specializing in foot-and-mouth disease vaccines, joined forces with FVC to create a sophisticated FMD vaccine facility in South Korea. This strategic collaboration will endow South Korea with access to advanced technologies, facilitating the production of safe, high-quality FMD vaccines for its domestic market. It will also promote cost-effective solutions for local livestock farmers and contribute to maintaining the country's sanitary status. FVC is an information technology service provider based in South Korea.
Who Are the Key Players In The Foot And Mouth Disease Vaccine Market?
Major companies operating in the foot and mouth disease vaccine market include:
• 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.
• Dong Bang Co. Ltd.
• FGBI-ARRIAH
• NAVETCO NATIONAL VETERINARY JOINT STOCK COMPANY
• Ceva Santé Animale
• MEVAC
• Agrovet Market S.A.
• Alivira Animal Health Limited
• Southern Cross Group
• SPIC Gene Science Technology Development Co. Ltd.
• Zoetis Inc.
What Are The Regional Insights Into The Foot And Mouth Disease Vaccine Market?
Asia-Pacific was the largest region in the foot and mouth disease vaccine market in 2024. 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.
