Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The Global Foot and Mouth Disease Vaccine Market, by Vaccine Type (Conventional Vaccine (Aluminum Hydroxide-based Vaccine and Oil-based Vaccines) and Emergency Vaccines), By Animal Type (Cattle, Swine, Goat and Sheep, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 1.5 billion in 2017, and is estimated to exhibit a CAGR of 9.4% over the forecast period (2018-2026).
Foot and mouth disease (FMD) is transboundary disease, which affects cattle, swine at a higher rate, whereas it affects sheep, goats, and other animals relatively at a lower rate, and this leads to increasing demand for vaccination, as this disease affects food industry economically. Infected animals cannot be slaughtered for meat, skin, and dairy products, owing to stringent regulations for food and dairy products.
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Moreover, FMD in cattle affects milking quantity up to 80%, which thereby shortens domestic milk supply and hampers income opportunity for farmers especially in emerging economies such as India, where livestock sector contributed around 4.5% in 2015-16 through dairy and other products (As per National Dairy Development Board data) to national GDP. FMD outbreak prevention and related strategies are major factors driving growth of the FMD vaccine market.
Furthermore, increasing number of livestock in different regions is increasing vulnerability for FMD outbreak. For instance, Guizhou a provenience in China confronted FMD incidence in January 2018, which majorly affected Swine producers in region. China has high number of swine headcount and it is major consumer for pork. Moreover, in June 2017, India had total bovine headcount of 200.3 million as per National Dairy Development Board update, therefore it is also highly susceptible to FMD. For instance, according to statistics by Food and Agricultural Organization, 2012, India reports economic losses of US$ 85 billion annually due to FMD outbreak, which is expected to propel demand for vaccination considering food security related aspect of livestock, worldwide.
Additionally, increasing number of government initiatives to curb the FMD is one of the major factors, which is expected to fuel growth of the FMD vaccine market over the forecast period. For instance, United Nations (UN) announced food security as sustainable development goal number 2 in 2015 which to be achieved by 2030, majority of which could be achieved only with healthy livestock population. Similarly, India Government launched a program in 2015, to end the FMD presence in country by 2020, that involves extensive vigilance and vaccination in most vulnerable 53 districts in India and free diagnostic kit availability. Furthermore, South-East Asia and China FMD campaign (SEACFMD) established in 1997, are helping member economies to eradicate FMD. SEACFMDC consist of 11 members and 30% of world population with animal production that is FMD-susceptible
In addition, major market players are focusing on expanding their FMD vaccine production, in order to cater to increasing demand for FMD vaccine. For instance, in 2014, India Immunological Ltd started a new vaccine production facility in India, especially for FMD vaccine production, which is expected to produce 360 million doses annually.
Browse 35 Market Data Tables and 30 Figures spread through 200 Pages and in-depth TOC on “Foot and Mouth Disease Vaccine Market, by Vaccine Type (Conventional Vaccine (Aluminum Hydroxide-based Vaccine and Oil-based vaccines) and Emergency Vaccines), by Animal Type (Cattle, Swine, Goat and Sheep and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global forecast to 2026”
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Key Takeaways of the Foot and Mouth Disease Vaccine Market:
- The global foot and mouth disease vaccine market is expected to exhibit a CAGR of 9.4% over the forecast period, attributed to increasing number of FMD outbreak and economic losses that FMD imparts. Furthermore, increasing demand for pork, dairy products, and meat by global population, requires supply of healthy animals, which could be achieved through vaccination.
- Among vaccine type, conventional vaccine segment is expected to account for major market share in the market over the forecast period. Moreover, majority of manufacturer manufacture oil-based vaccine (oil as adjuvants). Aluminum hydroxide-based vaccines are expected to gain significant traction over the forecast period.
- Amongst animal type, cattle segment is expected to hold a dominant position in the FMD vaccine market over the forecast period, owing to rising demand for dairy products, beef, and meat demands, across the globe. Furthermore, swine would be second most dominating animal in FMD vaccine market considering large consumption and global headcount of swine in countries such as China.
- Among regions, Asia Pacific is expected to hold dominant position in the global foot and mouth disease vaccine market, followed by Latin America over the forecast period. The growth in Asia Pacific is attributed to recent FMD outbreak that has been reported from the Asia Pacific in February 2018, especially in larger economies such as India and China, which has largest population of cattle and swine. For instance, according to the Food and Agricultural Organization of United Nations, in 2017, China has biggest population of swine in the world with headcount of 433.25 million.
- Major players operating in the global 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.
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