Global Foot and Mouth Disease Vaccines Market - 2023-2030

Global Foot and Mouth Disease Vaccines Market - 2023-2030

Market Overview

The global foot and mouth disease vaccines market size was valued at US$ 2,874.3 million in 2023 and is estimated to reach US$ XX million by 2030, growing at a CAGR of 8.6% during the forecast period (2023-2030).

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Market Dynamics

The major factors driving the global foot and mouth disease vaccines market the the rise in the global demand for animal products, positive governmental projects, increasing research and development spending, and the foot and mouth disease vaccine market will develop as the animal population increases globally.

The rise in the global demand for animal products is expected to drive the market’s growth.

The growing demand for animal goods, including milk, chicken, eggs, mefabrics, andl as high-tech machinery, are some drivers changing the animal business and luring massive investment. One of the main strategies used to reduce animal loss is vaccination. Governments and private animal company owners risk suffering significant financial losses if affected animals are put to death. Due to the lack of a permanent treatment and the numerous ways in which contamination might happen, the FMD vaccine is essential.

The issue of meat eating has come up due to the extraordinary climatic occurrences experienced around the world in mid-2022, most notably record-high temperatures and the energy crisis brought on by Russia's invasion of Ukraine. According to a 2022 article on meat trends in the U.K. published in the medical journal The Lancet, the average quantity of meat consumed per person and the total amount consumed is increasing globally. Population expansion increased wealth, and sociocultural norms that place a high value on eating meat are all blamed for this surge.

According to the article, ""attitudes towards meat consumption and meat reduction differ within segments of the population, as characterized by age, gender, ethnicity, or income."" The article goes on to underline that inequalities in meat consumption also exist within countries. The newest Food Outlook study from the U.N. Food and Agriculture Organization (FAO) predicts that global meat output will increase moderately in 2022, despite a difficult production environment characterized by widespread animal illnesses, conflicts, and rising input costs.

Expensive cost is expected to hamper the market’s growth.

However, high vaccine storage costs are anticipated to restrain market expansion.

COVID-19 Impact Analysis

The disease has spread to over 100 nations since the COVID-19 viral epidemic in December 2019, and on January 30, 2020, the World Health Organization proclaimed it a public health emergency. The three primary ways that COVID-19 can affect the economy include directly impacting the supply and demand for other medications and vaccines, causing disruptions in the distribution system, and having an economic impact on manufacturers. Many nations, including China, India, Saudi Arabia, the United Arab Emirates, Egypt, and others, have difficulty moving pharmaceuticals from one location to another due to widespread lockdowns.

The COVID-19 pandemic, however, harms the global market for foot and mouth disease vaccinations since major firms in the industry are grabbing value-grab chances to create COVID-19 (coronavirus) vaccines that can protect animals. For instance, in April 2020, scientists from the Chinese biopharmaceutical company Sinovac Biotech Ltd. administered two doses of its COVID-19 vaccine to eight rhesus macaques. The COVID-19 virus was inserted into the monkeys' lungs through tubes down their tracheas three weeks later, but none developed a full-blown infection.

Segment Analysis

The cattle segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The animal type segment is the highest market holder in the global foot and mouth disease vaccines market. The huge population of cattle worldwide and the domination of cattle farming as a major source of income for people in many nations are the main causes of the rise of the livestock segment. For instance, the likelihood of contracting an infection would be higher in nations with big cattle populations, such as China and Mexico. The Food and Agriculture Organization (FAO) predicted in September 2021 that India's national herd would increase by 1.2 million head from the Italy cattle count in 2021 to reach 306.7 million animals in 2022.

One of the most contagious illnesses in cattle is FMD. It threatens the world's cow population and has resulted in significant financial losses. Although this disease was successfully eradicated in the U.S. in 1929, several other nations are currently engaged in this conflict. The market growth may be boosted by OIE (World Organization for Animal Health) campaigns like the Southeast Asia Foot and Mouth Disease Campaign (SEAFMDC).

The introduction of immunization programs for cattle by various organizations is also anticipated to fuel the segment's expansion. For instance, the Prayagraj animal husbandry began a huge campaign to immunize cows and other cattle against foot and mouth disease in August 2020. Due to the rising demand for better and healthier meat, there is growing awareness of zoonoses and diseases affecting cattle. Therefore, these variables will have a favorable impact on the market in the years to come.

Geographical Analysis

North America holds the largest market share in the global Foot And Mouth Disease Vaccines market.

North America dominates the global foot and mouth disease vaccines market primarily due to excellent medical infrastructure, and high-income levels. Due to the widespread implementation of benefits for animal healthcare in the region, the North American region is one of the largest contributors to the vaccine market against foot and mouth disease. A combination of sophisticated animal healthcare programs and increased public awareness of animal health is expected to fuel the market's rapid growth in the region.

Additionally, the prevalence of animal diseases is driving up the demand for quick and efficient treatment alternatives, which is anticipated to drive the market's growth over the forecast period. For instance, it was indicated in the December 2021 article titled ""Foreign animal disease concern: foot and mouth disease"" that foot and mouth disease was a condition that needed to be reported in the United States. Foot and mouth disease decimates the cattle business in the U.S. and results in catastrophic losses that harm the economy and animal welfare. Foot and mouth disease's impact on animal welfare is anticipated to increase demand for efficient immunization.

Additionally, it is anticipated that several market players will continue to create new products, fueling the market's expansion in this area. To permit the production of the foot and mouth disease vaccine in the United States, for instance, Zoetis, Inc. submitted a petition to the Animal and Plant Health Inspection Services in August 2020. Thus, it is anticipated that the abovementioned elements will fuel market expansion in this area during the projection year.

Competitive Landscape

The foot and mouth disease vaccines market is moderately competitive with local and global companies’ presence. Boehringer Ingelheim International GmbH, Merck and Co., Inc, China Agricultural Vet. Bio. Science and Technology, Biogénesis Bago SA, Indian Immunologicals Ltd

Vecol S.A., Brilliant Bio Pharma Private Limited, Limor de Colombia, FGBI‑ARRIAH, QYH Biotech and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in October 2022,a new animal vaccine production plant is being built in Hyderabad by Indian Immunologicals (IIL), a division of the National Dairy Development Board (NDDB), with an investment of Rs 700 crore. The facility's ability to produce 600 million annual doses of the Foot and Mouth disease (FMD) vaccine will be doubled.

Boehringer Ingelheim International GmbH.

Overview: A division of CH Boehringer Sohn AG & Co KG, Boehringer Ingelheim International GmbH (Boehringer) is a pharmaceutical firm that develops, produces, and sells medicines, parasiticides, vaccines, and therapies for unmet medical needs. It provides a wide range of products, including biopharmaceuticals, animal health care items, and treatments for human ailments. The company's medications are used, among other things, to treat diseases of the immune system, the cardiovascular and metabolic systems, the respiratory system, cancer, and the retina. Additionally, it provides animal healthcare items for pigs, ruminants, poultry, horses, and other species.

Product Portfolio

Aftopor: Aftopor, Aftovaxpur, and Aftobov Oleosa, three FMD vaccines with highly powerful and purified antigens, may offer marker features that allow difference between infected and vaccinated animals (DIVA) for endemic or emergency situations. Only use Aftovaxpur Doe in dire circumstances.

The global Foot And Mouth Disease Vaccines market report would provide access to approx.: 45+market data table, 40+figures and 200 (approximate) pages.