San Francisco, California, February 16, 2018: A recent report by TMR Research, titled, “Foot and Mouth Disease Vaccines Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025” offers a comprehensive analysis of this market after extensive primary and secondary research.
Foot and mouth disease (FMD) is a common disorder that can affect domestic animals such as pigs, cattle, sheep, and other livestock species. This disease can be severe and can have widespread outbreaks in nations where livestock animals are commonly used in the farming and in dairy sectors. To fight this disease, the foot and mouth disease vaccines is a crucial control. This has resulted in the rise and growth of the foot and mouth disease vaccines market.
The worldwide foot and mouth disease (FMD) vaccines market is predicted to rise at a double digit CAGR in the upcoming years starting from 2017 and ending in 2022. The market’s growth is highly dependent on the policies framed by governmental bodies, economic status of a nation, and seriousness of the epidemic. A high demand of quality livestock products all over the world is expected to extensively propel the global foot and mouth disease (FMD) market. Many businesses are properly establishing themselves in this market, which is another significant growth driver, for it helps to bring about mass production of the vaccines. Impressive growth opportunities are waiting to benefit key vendors participating this market, thus fixing a bright future for its expansion. A significant trend observed involves rising disposable income that is spent on livestock products such as pork, eggs, milk, meat, and others, which is leading towards a surge in requirement for foot and mouth disease (FMD) vaccines.
From a regional perspective, the Asia Pacific region shows the most dominant growth in the global foot and mouth disease (FMD) vaccines market. This region is also expected to maintain this position in the upcoming years, especially during the forecast period. India and China, the two leading countries from the Asia Pacific region, have shown profound interest in developing vaccines for treating the disease. This is mainly due to several outbreaks of the foot and mouth disease that occurred in both countries. In addition to these nations, other countries belonging to the Asia Pacific region viz. South Korea, Sri Lanka, and Bangladesh also are expected to contribute considerably to the global foot and mouth disease (FMD) vaccines market in near future.
Various social sector schemes and projects aimed at uplifting the condition of the rural poor have benefitted the global market for foot and mouth disease vaccines. An example in this direction is the Rashtriya Krishi Vikas Yojana project launched in the Indian State of Uttarakhand. This project is expected to spend about INR 3.35 crore for vaccinations of cattle and other domestic animals present in Uttarakhand in order to decrease heavy losses incurred by the agrarian community due to spread of the foot and mouth disease in their livestock.
A small number of companies operate in the global foot and mouth disease (FMD) market. Most of these players have cemented their stable positions, thus making this market moderately consolidated. The competitive landscape is shaped by major factors such as vaccine pricing, spread of disease strains, technological innovations, and development of new serotypes. Most of the participants are expected to improve their presence by expanding their reach through both organic and inorganic means. Indian Immunologicals Limited, FMD Center, Veterinary Serum and Vaccine Research Institute, Agrovet, Limor de Colombia, and Biogénesis Bago are some of the key players in the global Foot and mouth disease (FMD) vaccines market.
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