The global Foot & Mouth Disease Vaccine market size is expected to be worth around US$ 13.05 billion by 2030, according to a new report by Vision Research Reports.
The global Foot & Mouth Disease Vaccine market size was valued at US$ 11.5 billion in 2020 and is anticipated to grow at a CAGR of 18.1 % during forecast period 2021 to 2030.
Growth Factors
An increase in the incidence of FMD and their socioeconomic impact over international trade of animal products are propelling the demand for FMD vaccines. In addition, effectiveness for a lower time period propels the repeat purchase of vaccines.
This market is highly competitive and various government entities intervene for bulk purchase of vaccines. There has been 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 a change in food preferences owing to changing lifestyles coupled with a 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.
Report Highlights
Conventional vaccines accounted for the largest segment in the global FMD diseases market in 2016. Rising adoption of oil-based vaccines owing to their longer period of effectiveness and higher efficacy is contributing to the dominance of the conventional vaccines segment. Although there are other conventional vaccines available, which are effective in preventing clinical diseases, they offer protection for a shorter duration. Hence, as a prophylactic measure, frequent vaccination becomes necessary.
Regions that have successfully eradicated this disease, such as North America and Europe, have a repository of the most effective strains of these vaccines. These strains are stored for emergencies to save various species of animals. In case of widespread and sudden outbreaks of foot & mouth disease, these strains are used to prepare vaccines for immunizing animals. The emergency vaccines segment is expected to grow at the fastest rate during the forecast period owing to the above-mentioned factors.
The cattle segment constitutes of domestic cattle such as cows, buffaloes, and bulls. FMD in cattle is one of the major contagious diseases. It is a threat to the worldwide cattle population and has been a reason for major economic losses. The U.S. successfully eradicated this disease in 1929; however, many countries are still fighting against this problem. Campaigns by the OIE (World Organization for Animal Health) such as the Southeast Asia Foot and Mouth Disease Campaign (SEAFMDC) are expected to boost market growth.
In addition, sheep have often been responsible for the dissemination of disease virus globally. Some of the reported cases include the introduction of FMD in Canada by sheep imported from the UK in 1857 and type A epidemic in Morocco in 1978 & 1983. FMD in sheep has been observed to be clinically silent. Excreta of infected sheep contains significantly high levels of FMD virus. As a result, maximum cross-contamination by sheep occurs through excreta and aero genic route. In addition, sheep products such as frozen lamb & other unprocessed sheep products are the primary factors responsible for transmittance of FMD virus across the borders, thereby contributing to an increase in the outbreak of the disease globally. The segment is expected to grow at the fastest rate during the forecast period.
Asia Pacific region dominated the market in 2016. The presence of countries with larger livestock populations and major market players are some of the few factors anticipated to contribute to the larger market share of the region. In addition, the market is driven by consistent efforts of market players to commercialize veterinary vaccines and increase investment in R&D. Moreover, the urgent need to curb the high incidence of this disease is expected to propel the market over the forecast period.
Currently, there is no need for vaccination in North America as there are no reported cases of the outbreak in the region since 1929. There is no chance of a viable virus being present in the region, hence, regular vaccination is not required. However, the antigen for the FMD vaccine is maintained at The North America FMD Vaccine Bank, a facility at Foreign Animal Disease Diagnostic Laboratory. The objective of the laboratory is to monitor, store, and conduct R&D of vaccines & therapeutic options for highly contagious diseases similar to FMD. The facility monitors FMD disease outbreaks around the world and develops antigens for most active virus strains.
Key Players
Agrovet; 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.
Market Segmentation
Technique Outlook
Conventional Vaccines
Aluminum Hydroxide/Saponin-based Vaccines
Oil-based Vaccines
Emergency Vaccines
Animal Type Outlook
Cattle
Sheep and goat
Pigs
Others (antelope, deer, bison, and camelids)
Regional Outlook
North America
Europe
Asia Pacific
India
China
Japan
South Korea
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
Nigeria
Saudi Arabia
The Foot & Mouth Disease Vaccine 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 & Mouth Disease Vaccine market for the base year 2020 and the forecast between 2021 and 2030. 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 & Mouth Disease Vaccine market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Foot & Mouth Disease Vaccine 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 & Mouth Disease Vaccine 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 & Mouth Disease Vaccine 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 & Mouth Disease Vaccine 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 & Mouth Disease Vaccine market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. 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 & Mouth Disease Vaccine market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Foot & Mouth Disease Vaccine 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 & Mouth Disease Vaccine 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.
The Foot & Mouth Disease Vaccine 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 & Mouth Disease Vaccine 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 & Mouth Disease Vaccine 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 & Mouth Disease Vaccine market. These factors have benefited the growth of the global market for Foot & Mouth Disease Vaccine. 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 & Mouth Disease Vaccine. 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 & Mouth Disease Vaccine 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
Research Methodology:
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
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.
Primary Sources
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:
To strategically profile the key players and comprehensively analyze their growth strategies.
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