Foot and Mouth Disease (FMD) Vaccines Market Future Lies In Oil-Based Vaccines, Expected To Reach US$0.95 bn by 2020

A new Transparency Market Research report states that the global foot and mouth disease (FMD) vaccines market was valued at US$0.51 bn in 2013 and is predicted to reach US$0.95 bn by 2020. The market is projected to expand at a CAGR of 8.80% from 2014 to 2019. The title of the report is “Foot and Mouth Disease Vaccines Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

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Foot and mouth disease (FMD) is a highly contagious disease and is caused by the virus called Aphthovirus from the family Picornaviridae. The virus can result in high fever for about two to six days, which is followed by blisters on the feet and inside of the mouth of the animal. This disease is infectious and can sometimes also prove fatal for animals. This viral disease is common in cloven-hoofed animals such as wild and domestic bovid.

As per the report, the rising consumption of dairy products and meat by humans is a key factor fuelling the market for foot and mouth disease vaccines. In addition, the increasing number of initiatives taken by governments globally is also augmenting the growth of the foot and mouth disease vaccines market. Furthermore, the prime growth opportunity in the market is the proliferation of DNA vaccines holding great potential in the cure of foot and mouth diseases in animals. On the other hand, the intervention of governments in vaccine purchasing has resulted in decreased costs of these vaccines, hence posing a negative impact on the growth of the market.

In terms of type, the report segments the market into emergency vaccines and conventional vaccines. The segment of conventional vaccines include aluminum hydroxide/ Saponin and oil-based vaccines. Amongst these, the demand for conventional vaccines is poised to rise in the coming years due to the rising adoption of routine vaccination strategy for controlling or eradicating the spread of foot and mouth disease. Amongst conventional vaccines, the segment of oil-based FMD vaccines held the largest share in the market in 2013.

The foot and mouth disease vaccines are used majorly on animals such as pigs, cattle, sheep and goats, and others. These vaccines can be also administered to certain species of deer, camels, and giraffe. Amongst these, the segment of cattle led the market in 2013 due to the rising presence of cattle globally. In addition, this segment is also fuelled by the increasing dependency of humans on animal proteins such as meat and milk globally.

In terms of geography, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, Asia Pacific holds the largest share in the market due to the presence of key FMD epidemic countries in this region. These countries are India, China, South Korea, Hong Kong, Bangladesh, and Pakistan. On the other hand, North America, majority of the Western European region, New Zealand, and Australia are FMD free, thus the growth of the market is predicted to be minor or nil within these regions and countries in the forecast horizon.

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Bayer AG, Brilliant Bio Pharma Limited, Inova Biotechnologia, Intervac (Pvt.) Ltd., and Merck Animal Health (MSD), among others are the major players operating in the market, as per this report.

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This release was published on openPR.