Foot and Mouth Disease (FMD) Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Foot and Mouth Disease (FMD) Vaccine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview 2023-2028:

The global foot and mouth disease (FMD) vaccine market size reached US$ 1,978.6 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 3,070.7 Million by 2028, exhibiting a growth rate (CAGR) of 7.2% during 2023-2028.

The foot and mouth disease (FMD) occurs due to a transboundary, contagious virus that infects cloven-hoofed animals. It primarily affects cattle, such as buffaloes, pigs, sheep, goats, etc., and a few wildlife species, including deer, bison, camelid, antelope, etc. The FMD virus (FMDV) has seven immunologically distinct serotypes, namely O, A, C, SAT1, SAT2, SAT3, and Asia 1. This viral disease exhibits common symptoms in animals, such as blisters on lips and tongue, fever, excessive salivation, anorexia, low meat and milk productivity, etc. Several vaccines, based on aluminum hydroxide, saponin, and oil formulations, are used against FMD contraction.

The high prevalence of FMD along with its socio-economic impact on the international trade of animal products is driving the FMD vaccine market. The growing meat processing industry and the increasing consumption of dairy products are also fueling the need for FMD vaccines. Additionally, the rising demand for high-grade and disease-free meat supply from livestock is further augmenting the market growth. Apart from this, the implementation of mandatory norms regarding cattle rearing is leading to the bulk purchase of vaccines to control FMD outbreaks. Furthermore, government bodies across the globe are also introducing several awareness programs for protecting endangered wildlife species, such as bison and antelope, against FMD. Rising globalization along with the growing livestock population across both developed and developing markets is also driving the market for FMD vaccines. Furthermore, the increasing presence of veterinary centers providing safe healthcare practices for livestock is also creating a positive impact on the market growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global foot and mouth disease (FMD) vaccine market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on animal type, vaccine type and distribution channel.

Breakup by Animal Type:

Cattle
Pig
Sheep and Goat
Others

Breakup by Vaccine Type:

Conventional Vaccines
Oil-Based Vaccines
Aluminum hydroxide/saponin-based Vaccines
Emergency Vaccines

Breakup by Distribution Channel:

Government Organizations
Distributors/Pharmacies
Private Vet
Others

Breakup by Region:

Asia Pacific
China
India
Bangladesh
Vietnam
Korea
Others
Latin America
Brazil
Argentina
Others
Middle East and Africa
Nigeria
Ethiopia
Iran
Algeria
Others
Europe
Turkey
Georgia
Armenia

Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Paramount Agrovet Pvt. Ltd., Bayer AG, Biogenesis Bago, Boehringer Ingelheim International GmbH, Brilliant Bio Pharma Private Limited, China Animal Husbandry Group, FGBI “Federal Center for Animal Health”, Indian Immunologicals Ltd., Limor De Colombia, Merck & Co., Inc., Vecol S.A and Vetal Animal Health Products Inc.

Key Questions Answered in This Report:
How has the global foot and mouth disease (FMD) vaccine market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global foot and mouth disease (FMD) vaccine market?
What are the key regional markets?
What is the breakup of the market based on the animal type?
What is the breakup of the market based on the vaccine type?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global foot and mouth disease (FMD) vaccine market and who are the key players?
What is the degree of competition in the industry?