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Foot and Mouth Disease Vaccine Market To Witness Robust Expansion By 2026 With Top Players Agrovet, MSD Animal Health, Vallee SA, Bayer HealthCare, Brilliant Bio Pharma Ltd
Foot and Mouth Disease Vaccine
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Outbreak of the foot and mouth disease and associated economic loses are important driver for the growth of the FMD vaccine market. According to World Organization for Animal Health (OIE), around 23 countries from Asia Pacific, Latin America and Africa reported FMD outbreak in the 2016. According to journal Acta Tropica published in May 2017, prevalence of FMD in Ethiopia ranges from 5.6% to 42.7% in cattle and from 4% to 11% in small ruminant and in 30% in ungulate wildlife.
Five of seven serotypes, namely serotype O, A, C, SAT1 and SAT2 are most commonly observed. This hampers animal rearing and trade practice at significant extent. Government initiatives to combat FMD outbreak would be another important driver for growth of FMD vaccine market. In March, 2007, Argentina, Brazil, and Paraguay government committed to intensive vigilance for FMD in a shared zone encompassing a small area along both sides of their common borders. The agreement became effective due to joint evaluation mission by OIE
The global foot and mouth disease market size was valued at US$ 1,567 million in 2017, and is expected to witness a CAGR of 9.4% over the forecast period (2018 – 2026).
Repetitive outbreak of FMD in animals negatively affecting economy is driving growth of the foot and mouth disease vaccine
Foot and Mouth Disease (FMD) causes repetitive outbreak around world thereby causing economic and social damage. Preventing foot and mouth disease is the only sustainable and viable options, which can be done only though the vaccination for FMD, which is expected to drive growth of the foot and mouth disease vaccine market. According to paper published by the Food and Agricultural Organization (FAO) and World Organization for Animal Health (OIE), in 2012, foot and mouth disease accounted for annual loss of US$ 5 billion worldwide.
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Increasing number of animal headcount worldwide is expected to drive growth of the foot and mouth disease vaccine market
High animal density and increasing population of livestock animal is expected to be major impetus for the growth of FMD vaccine market. According to U.S. Department of Agriculture data in 2017, India has cattle in number around 300 million, followed by Brazil and China. According to the factsheet by United Nations Food and Agriculture Organization (UN-FAO), worldwide there is close to one billion headcount of swine. China has highest number of swine headcount numbering 455 million. Infected animals can transmit infection to other animals if their movement is not restricted. Vaccination of animals for FMD prevents future risks and creates sustainable growth for animal population worldwide especially in a region, which are prone to FMD outbreak.
Key players operating foot and mouth disease vaccine market include Indian Immunologicals Ltd., Agrovet, MSD Animal Health, Vallee SA, Bayer HealthCare, Brilliant Bio Pharma Ltd., Intervet, Biovet, Merial, China Animal Husbandry Co., Ltd., Biogénesis-Bagó S.A, Vetal Animal Health Products S.A.VETAL Animal Health Products, and Vecol S.A.
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