PUBLISHER: The Business Research Company | PRODUCT CODE: 1425485
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425485
Foot And Mouth Disease Vaccine Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on foot and mouth disease vaccine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for foot and mouth disease vaccine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The foot and mouth disease vaccine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Foot-and-mouth disease (FMD) vaccines serve as a crucial intervention to enhance the immune defenses of animals against the highly contagious foot-and-mouth disease. This disease poses a severe threat to all cloven-hoofed animals, including cattle, sheep, goats, camelids, deer, and pigs. Clinical signs of FMD in animals include elevated body temperature and the development of blisters, primarily affecting the feet and mouth.
The main categories of foot-and-mouth disease vaccines include conventional vaccines, oil-based vaccines, aluminum hydroxide/saponin-based vaccines, and emergency vaccines tailored for cattle, pigs, sheep, goats, and other susceptible animals. Conventional vaccines typically consist of inactivated disease-causing organisms or pathogen-derived proteins (antigens). These antigens mimic the infectious agent, working to stimulate the immune system. The goal is to prime the immune system, enabling it to respond more rapidly and effectively if the animal is exposed to the actual infectious agent. Distribution channels for foot-and-mouth disease vaccines are diverse and include government organizations, distributors/pharmacies, private veterinary services, and other relevant distribution channels. This widespread availability ensures that these vaccines can be efficiently disseminated to protect susceptible animal populations and prevent the spread of foot-and-mouth disease.
The foot and mouth disease vaccine market research report is one of a series of new reports from The Business Research Company that provides foot and mouth disease vaccine market statistics, including foot and mouth disease vaccine industry global market size, regional shares, competitors with a foot and mouth disease vaccine market share, detailed foot and mouth disease vaccine market segments, foot and mouth disease vaccine market trends and opportunities, and any further data you may need to thrive in the foot and mouth disease vaccine industry. This foot and mouth disease vaccine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The foot and mouth disease vaccine market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historical period can be ascribed to advancements in the development of multivalent vaccines, the prevalence of foot and mouth disease, governmental initiatives for disease control, a concentrated emphasis on food security, the economic ramifications of foot and mouth disease outbreaks, and substantial investments in research and development.
The foot and mouth disease vaccine market size is expected to see strong growth in the next few years. It will grow to $3.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The projected growth in the forecast period is associated with the impact of climate change on the spread of diseases, the emergence of new foot-and-mouth disease (FMD) strains, the adoption of a One Health approach, the digitalization of vaccine distribution, improvements in vaccine cold chain infrastructure, ongoing enhancements in vaccine safety, integration with precision livestock farming, and international support for vaccination programs. Key trends expected in the forecast period encompass global initiatives for FMD eradication, the development of multivalent vaccines, the formation of public-private partnerships, advancements in diagnostics and surveillance technologies, biotechnological innovations, genomic surveillance, and the increasing adoption of marker vaccines.
The foot and mouth disease vaccine market is experiencing growth driven by the expanding livestock population. Livestock, encompassing animals like cows, horses, and pigs, is on the rise due to increased demand for animal products. This growth in livestock presents a higher risk of foot and mouth disease prevalence, consequently boosting the demand for foot and mouth disease vaccines. Notably, in 2022, India's national cattle herd surged from 1.2 million in 2021 to 306.7 million, as reported by the US Department of Agriculture, exemplifying the significant impact of the growing livestock population on the foot and mouth disease vaccine market.
The upward trajectory in healthcare expenditure is expected to contribute to the foot and mouth disease vaccine market's growth. Healthcare expenditure, reflecting the total spending on healthcare goods and services, supports research and development activities in veterinary medicine. Increased funding in this sector facilitates the development of more advanced and effective vaccines, including those designed to prevent foot and mouth disease in animals. For example, the United Kingdom's healthcare spending reached approximately $352.69 billion in 2022, marking a modest increase of 0.7% from the previous year, as reported by the Office for National Statistics. This uptick in healthcare expenditure is a driving force behind the foot and mouth disease vaccine market's expansion.
A key trend in the foot and mouth disease vaccine market is the strategic partnership among major players. These collaborations allow companies to leverage each other's resources and expand into new markets. In July 2022, Biogenesis Bago, an Argentina-based biotech company specializing in foot-and-mouth disease vaccines, partnered with FVC to establish an advanced FMD vaccine facility in South Korea. This strategic partnership aims to provide South Korea with cutting-edge technologies for the production of high-quality FMD vaccines, enhance local livestock protection, and contribute to the country's sanitary status. FVC, a South Korea-based information technology services provider, complements the collaboration.
Major companies in the foot and mouth disease vaccine market are focusing on innovative services, including advancements in clinical phases, to enhance profitability. Clinical trials, which test new treatments and medications, play a crucial role in the development of effective vaccines. In June 2023, the Department of Animal Husbandry and Dairying in India launched the third phase of FMD Vaccination under the National Animal Disease Control Programme (NADCP). This initiative aims to combat foot and mouth disease in cattle, contributing to a broader strategy to manage and eventually eradicate FMD by 2030. The success of such initiatives is essential for improving local output, expanding exports of milk and animal products, and ensuring the profitability of major players in the foot and mouth disease vaccine market.
In May 2022, Ceva Sante Animale (Ceva), a prominent animal health company based in France, successfully acquired Artemis Technologies, Inc. for an undisclosed sum. This strategic acquisition aligns with Ceva's commitment to protecting humans, wildlife, pets, and livestock from the detrimental effects of lethal zoonotic diseases. Moreover, it reinforces Ceva's efforts in disease management within natural habitats. Artemis Technologies, Inc., headquartered in Canada, specializes in the production of oral rabies vaccines.
Major companies operating in the foot and mouth disease vaccine market report are Godrej Agrovet Limited, Biogenesis Bago 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 Sante 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, and Zoetis Inc.
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.
The countries covered in the foot and mouth disease vaccine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The foot and mouth disease vaccine market consist of sales of inactivated vaccine, viral vector vaccine, adenovirus, virus-like particle vaccines, baculovirus, plant-produced empty capsids, RNA vaccine, and DNA vaccine. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.