Foot and Mouth Disease Vaccines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Foot and Mouth Disease Vaccines Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Foot and mouth disease vaccines market is expected to register a CAGR of 9.8% over the forecast period.

COVID-19 had a significant impact on the growth of the market during the pandemic period. Supply disruption and shortages of veterinary medicines were observed in several countries, primarily due to the temporary lockdowns of manufacturing sites, export bans, and increased demand for COVID-19 medicines. Governments took measures to mitigate the supply of medicines. Certain specific and precautionary guidelines were given to veterinary professionals to treat companion animals during the COVID-19 pandemic by the Centers for Disease Control and Prevention in July 2020. Also, the incidence of foot and mouth disease in animals amidst COVID-19 is expected to contribute to the growth of the market. For instance, in April 2021, foot and mouth disease struck Arunachal Pradesh amid COVID-19 infections, affecting semi-wild mithuns across the Central and Eastern landscapes of the frontier North-Eastern State in India. Such circumstances led to the demand for the foot and mouth disease vaccine during the pandemic period. Thus, COVID-19 had a significant impact on the growth of the market.

The prevention and treatment of deadly animal diseases are key market indicators for the vaccine market. Certain factors such as increasing incidences of zoonotic diseases, increasing demand for animal products, and rising R&D activities in animal healthcare cause foot and mouth-related diseases are expected to contribute to the growth of the market during the forecast period. The article titled "Novel Foot and Mouth Disease Vaccine platform: Formulations for safe and DIVA compatible FMB vaccines with improved potency" published in September 2020 mentioned that the foot and mouth disease- LL3B3D vaccine platform, undergoing development in the United States, provides opportunities for safer vaccine production with full compatibility in support of the global foot and mouth disease virus control and eradication initiatives.

Zoonotic diseases are naturally transmitted from animals to humans. Adverse climatic transformations and rapid globalization are the major factors increasing the cases of zoonotic diseases over the past decades. Zoonotic diseases are quite common around the world. According to the scientists of the Centers for Disease Control and Prevention (CDC) in July 2021, over 6 out of every 10 known infectious diseases in humans are spread via animals, moreover, 3 out of every 4 new or emerging infectious diseases are spread from animals. So, it is evident that these diseases are major public health problems worldwide.

Thus, the above-mentioned factors are expected to drive the growth of the market during the forecast period. However, high storage costs for vaccines are expected to hamper the growth of the market over the forecast period.

Key Market TrendsCattle Segment is Expected to Witness Significant Growth Over the Forecast Period

The growth of the cattle segment is mainly attributed to the high population of cattle across the world and the dominance of cattle farming as a major income source for people in many countries. For example, in countries such as China and Mexico where the livestock population is high, the chances of getting an infection would be higher. According to the Food and Agriculture Organization (FAO) in September 2021, India's national cattle herd to reach 306.7 million animals in 2022, increasing by 1.2 million head from the 2021 Italy cattle count.

Additionally, the launch of vaccination programs for cattle by various organizations is also expected to drive the growth of the studied segment. For instance, in August 2020, the Prayagraj animal husbandry launched a massive drive to inoculate the vaccines in cows and other cattle from foot and mouth disease.

The awareness about cattle diseases and zoonosis is currently growing due to the high demand for improved and healthy meat. Hence, these factors are anticipated to have a positive impact on the market in the coming years.

North America is Expected to Dominate the Foot and Mouth Disease Vaccines Market

North American region is among the major contributor to the foot and mouth disease vaccines market, owing to the implementation of animal healthcare benefits across the region. The market is growing rapidly due to the presence of advanced animal healthcare programs coupled with awareness regarding animal health is projected to drive the regional market growth.

Moreover, the rising disease burden in animals is further pushing the need for effective and quick treatment options which is expected to propel the growth of the market, over the forecast period. For instance, the article titled "Foreign animal disease concern: foot and mouth disease" published in December 2021 mentioned that Foot and mouth disease was a reportable disease in the United States. Foot and mouth disease devastates the United States livestock industry and causes catastrophic losses, hitting both the economy and animal welfare. Such impact on animal welfare by foot and mouth disease is expected to drive the demand for effective vaccination.

Also, the increasing product developments by various market players are expected to drive the growth of the market in this region. For instance, in August 2020 Zoetis, Inc applied for a petition to the Animal and Plant Health Inspection Services to approve the manufacture of foot and mouth disease vaccine in the United States.

Thus the above-mentioned factors are expected to drive the growth of the market in this region during the forecast period.

Competitive Landscape

The foot and mouth disease vaccines market are moderately fragmented in nature due to the presence of a few companies operating globally as well as regionally. The global players in the foot and mouth disease vaccines market are – Biogénesis Bagó, Boehringer Ingelheim GmbH, Brilliant Bio Pharma Pvt Ltd, China Animal Husbandry Group, Indian Immunologicals Limited, Limor de Colombia, Merck & Co. Inc., VECOL S.A and VETAL Animal Health Products.

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