Foot and mouth disease (FMD) is a highly contagious disease that has significant economic impact. Virus named, Aphthovirus of the family Picornaviridae causes foot and mouth disease. Seven different types of strains namely O, A, C, Southern African Territories (SAT) 1, SAT 2, SAT 3 and Asia1 of Aphthovirus cause FMD in livestock. Outbreak of FMD causes negative impact on the economy of the country owing to resulting losses in milk and meat production industry. Therefore, governments of FMD endemic countries are aiming to eradicate the disease from the country by creating awareness about the disease. Increasing awareness is resulting in augmenting the adoption of routine vaccination of the livestock in FMD endemic countries. Therefore, rising awareness coupled with growing FMD outbreaks are the major factors driving the FMD vaccines market globally.
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Presently, two major types of vaccines namely, conventional vaccines and emergency vaccines are available in the market. In 2013, oil based FMD vaccines which is one of the sub-segment of conventional vaccine segment accounted for the largest market share in the global FMD vaccines market. Further, increasing adoption of routine vaccination strategy to eradicate or control the disease spread is anticipated to fuel the growth of conventional vaccines market during the forecast period.
FMD vaccines have application in cattle, pigs, goat and sheep and other animals since; the disease mainly affects cloven hoofed animals. Other animals include some species of camels, elephants, deer and giraffe. Cattle segment accounted for the largest market share in the year 2013 owing to the presence of large number of cattle worldwide. Furthermore, rising dependency on animal proteins such as milk and meat is anticipated to drive the growth of the cattle segment during the forecast period from 2014 to 2020.
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Presently, Asia Pacific is leading the global FMD vaccines market owing to presence of major FMD endemic countries such as China, India, Hong Kong, South Korea, Pakistan, and Bangladesh. Furthermore, the FMD vaccines market in major countries in Rest of the World (Brazil and Egypt) and countries in Africa (mainly Sudan) are expected to witness rapid growth in the near future. Growth of the FMD vaccines market in Rest of the World (RoW) is attributed to frequent outbreaks of FMD in the region. North America, Australia, New Zealand and majority of Western European countries are FMD free countries with no vaccination. As a result, FMD vaccines market is anticipated to have low or no growth potential in these countries during the forecast period from 2014 to 2020.
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FMD vaccines market is a fragmented market with many local players competing with global players. In addition, governments of many FMD endemic countries have their own vaccine manufacturing facilities which are restraining the growth of the global players present in the market. Therefore, major market players aim to expand their regional reach and product portfolio by mergers and acquisitions of small and local players. In addition, major players are also trying to enter FMD endemic countries to expand geographically and thereby expand their market share in the global market. For instance, in October 2013, Biogenesis Bago, Argentina based FMD vaccine manufacturer received approval from the Chinese health department to install a FMD vaccine production unit named Yangling JINHAI Biotechnology Co in the Shaanxi province. This move would help Biogenesis Bago to enhance its product offerings in Asia and thereby expand its geographic presence.
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