Foot And Mouth Disease Vaccine Market Size, Share & Trends Analysis Report By Animal (Cattle, Sheep & Goat, Swine), By Vaccine (Modified/Attenuated Live), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Foot And Mouth Disease Vaccine Market Size, Share & Trends Analysis Report By Animal (Cattle, Sheep & Goat, Swine), By Vaccine (Modified/Attenuated Live), By Distribution Channel, By Region, And Segment Forecasts, 2024 - 2030

Foot And Mouth Disease Vaccine Market Growth & Trends

The global foot and mouth disease vaccine market size is expected to reach USD 3.88 billion by 2030, registering a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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.

Foot And Mouth Disease Vaccine Market Report Highlights

• The inactivated (killed) vaccine segment dominated the market and accounted for a market share of 53.0% in 2023.
• Cattle dominated the market with a market share of 53.5% in 2023 and is expected to grow at the fastest CAGR over the forecast period.
• The swine segment is expected to grow at a significant CAGR over the forecast period. It is attributed to the rising demand for pork as it is a good source of protein and income source in many developing countries across the world.
• Asia Pacific foot & mouth disease vaccine market dominated with a revenue share of 48.2% in 2023 owing to the growing livestock population and high prevalence of FMD in this region.

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