Vision Research Reports says the global foot and mouth disease vaccines market size is expected to surpass around US$ 11 Bn by 2028.
The global foot and mouth disease vaccines market size was valued at US$ 5.8 Bn in 2020 and is expected to grow at a CAGR of 7.2% from 2021 to 2028.
Foot and mouth disease (FMD) is an acute viral and highly contagious disease, affecting various economically important livestock species. The FMD virus affects pigs, cows, goats, sheep, and deer. Animals with FMD develop fever and blisters on the lips and tongue in the mouth, on the mammary glands, and around the hooves. The foot and mouth disease is a highly contagious disease of cloven-hoofed animals. In countries where food and farm animals are essential for subsistence agriculture, outbreaks of FMD seriously affect food security and development. Substantial progress in FMD virus research at the molecular, cellular, and live animal levels has been made in the last few decades.
In terms of type, the global foot and mouth disease vaccines market has been bifurcated into conventional vaccines and emergency vaccines. The conventional vaccines segment has been divided into aluminum hydroxide/saponin-based vaccines and oil-based vaccines. The conventional vaccines segment accounted for major share of the global foot and mouth disease vaccines market in 2020. The segment is anticipated to expand at a high CAGR during the forecast period, owing to the rise in the need & demand for prevention of the disease across the world.
Based on application, the global foot and mouth disease vaccines market has been classified into cattle, sheep & goat, pigs and others (antelope, deer, bison, and camelids). The cattle segment held a significant share of the global foot and mouth disease vaccines market in 2020.
Multi-million Dollar Innovation Programs Fuel Demand for Foot and Mouth Disease Vaccines
Apart from business potentials in Asia and America, manufacturers in the foot and mouth disease vaccines market are exploring untapped opportunities in Eastern Africa. The Global Alliance for Livestock Veterinary Medicines (GALVmed) has announced the AgResults Foot and Mouth Disease (FMD) Vaccine Challenge Project to encourage the uptake of vaccines in Eastern Africa. Companies in the Africa foot and mouth disease vaccines market are improving their production capabilities to design vaccines that are tailored to the needs of livestock owners in Eastern Africa.
Multi-million dollar government initiatives are catalyzing the development of improved foot and mouth disease vaccines. Since FMD is highly contagious and has devastating effects on the livestock industry, manufacturers are increasing the availability of foot and mouth disease vaccines.
Increasing Production Targets Help Meet Growing FMD Demands
Asia Pacific is among the second-highest revenue earning regions in the foot and mouth disease vaccines market, which is expected to grow at a rapid pace during the forecast period. India being one of the major countries in Asia Pacific is gearing up to tackle the issue of high prevalence of foot and mouth diseases among livestock. Announced by India’s Prime Minister Narendra Modi himself, the National Animal Disease Control Program (NADCP) is under spotlight for ensuring the welfare of buffalo and cattle population.
Fund allocations by government organizations are generating incremental opportunities for pharmaceutical companies in the India foot and mouth disease vaccines market. However, it is challenging to have sufficient quantities of foot and mouth disease vaccines in order to fast-track vaccination programs. As such, veterinary scientists opine that vaccine companies in India are increasing their production targets to meet FMD demands.
Incremental Opportunities in Mongolia Drive R&D Innovations in Immunogenicity Studies
As companies gear up to tap into incremental opportunities in the Asia Pacific foot and mouth disease vaccines market, Mongolia is another country, which is witnessing the demand for vaccines. FMD is a high impact viral disease of livestock and is found to have regular incursions in eastern regions of Mongolia. Such demands are estimated to bolster revenue growth for the overall Asia Pacific foot and mouth disease vaccines market. As such, the country imports vaccines and this forms an important part of their disease control strategy.
Pharmaceutical companies are abiding by the post-vaccination monitoring guidelines published by the FAO (Food and Agriculture Organization of the United Nations)-OIE (World Organisation for Animal Health) that provide information on the appropriateness of imported foot and mouth disease vaccines. Manufacturers are increasing their R&D capabilities in immunogenicity studies to produce improved formulations of vaccines.
North America held major share of the global foot and mouth disease vaccines market in 2020. Highly structured animal healthcare industry, presence of key players, and growth strategies adopted by these players are the major factors driving the foot and mouth disease vaccines market in the region. Rise in awareness about the benefits of prevention of diseases and increase in animal healthcare expenditure augments the foot and mouth disease vaccines market in North America. Asia Pacific held the second largest share of the global foot and mouth disease vaccines market in 2020. The growth of the foot and mouth disease vaccines market in Asia Pacific can be attributed to rise in acute viral diseases and well-developed animal healthcare sector. The foot and mouth disease vaccines market in Asia Pacific is likely to grow at a rapid pace during the forecast period.
The development of vaccines and other pharma products to cope with zoonotic disease concerns and a rise in awareness leading to routine checkup and diagnosis are the major factors anticipated to fuel the growth of the foot and mouth disease vaccines market in the region.
Key players are expanding their footprint to consolidate their positions in the global foot and mouth disease vaccines market. Greater emphasis on prevention and wellness by veterinarians and owners presents lucrative opportunities to key players to increase their share in the global foot and mouth disease vaccines market. Hence, manufacturers are engaging in new product development, collaborations, and distribution to gain market share. Leading players operating in the global foot and mouth disease vaccines market include India Immunological Ltd., Merck Animal Health, Brilliant Bio Pharma Ltd., Ceva Santé Animale, Boehringer Ingelheim GmbH, Biovet Private Limited, Biovencer Healthcare Private Limited, Vetal Animal Health Products S.A., and Biogenesis Bago SA.
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The Foot and mouth disease vaccines market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Foot and mouth disease vaccines market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Foot and mouth disease vaccines market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Foot and mouth disease vaccines market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Foot and mouth disease vaccines market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Foot and mouth disease vaccines capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Foot and mouth disease vaccines by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Foot and mouth disease vaccines market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Foot and mouth disease vaccines market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Foot and mouth disease vaccines market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Foot and mouth disease vaccines industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Foot and mouth disease vaccines market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Foot and mouth disease vaccines market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Foot and mouth disease vaccines market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Foot and mouth disease vaccines market. These factors have benefited the growth of the global market for Foot and mouth disease vaccines. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Foot and mouth disease vaccines. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Foot and mouth disease vaccines are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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