Global Foot and Mouth Disease Vaccines Market: Overview
Foot and mouth disease (FMD) vaccines are one of the critical control actions taken during an FMD epidemic outbreak. Such control measures are dependent on the views of policymakers, status of the nation, and local epidemiological situation. FMD has attracted a lot of attention since years due to its contagious viral nature striking pigs, sheep, cattle, and other livestock species and effect on a nation’s economy. Livestock in countries such as European, Canada, and the U.S. could be susceptible to viral FMDs because of their non-vaccination policies.
Global Foot and Mouth Disease Vaccines Market: Key Trends
The world FMD vaccines market is prognosticated to rise at a close to double-digit CAGR during the forecast period 2017–2025. Participants operating in the world FMD vaccines market are expected to gain a telling traction as governments and other regulation bodies find it significant to avoid the burst of FMDs affecting livestock production. The elevating demand for livestock products on a global platform is anticipated to set the growth bar of the world FMD vaccines market.
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Vendors functioning in less developed regions of the world FMD vaccines market could be benefited with impressive growth opportunities as the total demand for animal products is predicted to double by 2030. The inflating disposable incomes of emerging countries could be attributed for the magnification of demand for pork, egg, meat, and other higher value offerings. Furthermore, emerging nations consider animal products as the second leading source of calories. In addition to that, developing regions are mostly endemic for FMDs, which could be another factor surging the growth of the world FMD vaccines market therein.
Global Foot and Mouth Disease Vaccines Market: Market Potential
The Uttarakhand state of India will spend around INR 3.35 crore for an FMD vaccination program under the project Rashtriya Krishi Vikas Yojana (RKVY). The month-long program will vaccinate around 29.5 lakh cattle in Uttarakhand. This program is expected to be a crucial move in eliminating the INR 20,000 crore losses incurred every year in India due to FMD, as estimated by the Indian Council of Agricultural Research. Cows and buffaloes in every household across towns and villages in the hill state will be primarily targeted by several teams of the animal husbandry department.
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Global Foot and Mouth Disease Vaccines Market: Regional Outlook
India and China are prophesied to be amongst the superior nations driving a substantial growth in the Asia Pacific FMD vaccines market. In the coming years, the international FMD vaccines market in Asia Pacific is foreseen to continue with its domination in 2015. In November 2014, Qiannan, Guizhou Province, China had experienced a series of FMD outbreaks which lasted in May 2016. All of the FMD episodes had involved a cattle farm in the Chinese autonomous prefecture. Hong Kong, South Korea, Bangladesh, Sri Lanka, and Pakistan are other regions that could bolster the growth of the international FMD vaccines market due to endemic episodes witnessed therein.
Global Foot and Mouth Disease Vaccines Market: Competitive Landscape
On account of a small number of cemented players possessing a substantial share, the worldwide FMD vaccines market could hold a moderately consolidated nature. Developments in technology, new serotypes and strains, and pricing are foretold to be some of the critical aspects shaping the competitive landscape of the worldwide FMD vaccines market. With a view to enlarge their expertise and presence in the worldwide FMD vaccines market, participants could take to inorganic as well organic strategies. As a result, the worldwide FMD vaccines market is predicted to considerably drive profitability and growth.
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