Foot and Mouth Disease Vaccine Market accounted for US$ 1.96 billion in 2020 and is estimated to be US$ 4.04 billion by 2030 and is anticipated to register a CAGR of 7.50%. Foot and mouth disease (FMD) is highly contagious viral disease of livestock with significant economic impact. It is most serious livestock disease affecting cloven-hoofed animals including cattle, buffalo, sheep, camel, goat, deer, and pigs. Livestock infected with FMD, reported to effect on trade in livestock and livestock products. According to Department of Agriculture and Water Resources of Australia, 2017 data estimates, a small FMD outbreak, controlled in 3 months, accounted to cost US$ 5.54 billion, while a 12 month outbreak would cost and an around US$ 12.4 billion. Vaccination is used a protective measure in controlling FMD; however, they do not necessarily prevent animals from being infected. Vaccine are still used in various countries to control endemic situation. Moreover, complete eradicate the FMD virus through complementary control measures such as cleaning and disinfection are essential to eradicate disease.
The report " Global Foot and Mouth Disease Vaccine Market, By Vaccine Type (Conventional Vaccine, Aluminum Hydroxide based vaccine, Oil based vaccines, and Emergency Vaccines), By Animal Type (Cattle, Sheep, Goat, Swine, and Others) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - Trends, Analysis and Forecast till 2030”
Key Highlights:
· The National Animal Disease Control Programme is a step launched by Prime Minister Narendra Modi in September 2019, for ensuring hundred percent vaccination of cattle, buffalo, sheep, goat and pig population against fatal diseases like FMD and Brucellosis.
· In 2021, Vaxart, Inc. (Nasdaq: VXRT), a clinical-stage biotechnology company developing oral recombinant vaccines that are administered by tablet rather than by injection, today announced that it has signed an exclusive worldwide licensing agreement with Altesa Biosciences, Inc. to allow Altesa to develop and commercialize Vaxart’s patented formulation of the capsid-binding VapendavirTM, a clinical-stage broad spectrum antiviral.
Analyst View:
Increasing number of animal population density, repetitive outbreak of FMD in animals around world thereby negatively impacting economy is major factor driving growth of the global foot and mouth (FMD) disease.There were various types of FMD virus serotypes (A, O, C, SAT1, SAT2, SAT3, and Asia1), which further divided into 60 strains. However, protection against one serotype will not protect against infection with another serotype. Moreover, ineffectiveness of vaccination in controlling the outbreak of FMD infection owing to presence of different types of virus serotypes, could limit growth of the global foot and mouth disease vaccine market.
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Key Market Insights from the report:
The Global Foot and Mouth Disease Vaccine Market accounted for US$ 1.96 billion in 2020 and is estimated to be US$ 4.04 billion by 2030 and is anticipated to register a CAGR of 7.50%. The global foot and mouth disease vaccine market has been segmented on the basis of vaccine type, animal type, and region.
· By Vaccine Type, the market is segmented into conventional vaccine, aluminum hydroxide based vaccine, oil based vaccines, and emergency vaccines.
· By Animal Type, the market is segmented into cattle, sheep, goat, swine, and others.
· By Region, the Global Diabetic Neuropathy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific foot and mouth disease vaccine market is expected to dominate in the global market over the forecast period. This is attributed to increasing headcount of animals in the countries of this region.
Competitive Landscape:
Some of the prominent players operating in the global foot and mouth disease vaccine market Indian Immunologicals Ltd., Godrej Agrovet Ltd., MSD Animal Health Srl., Vallee S.A., Bayer HealthCare LLC, Brilliant Bio Pharma Ltd., Intervet Inc., Biovet Inc., Merial Inc., China Animal Husbandry Co., Ltd., Biogenesis Bago S.A., and Vecol S.A.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
