The global Foot And Mouth Disease Vaccine market overview is the market for vaccines that immunize cattle and other cloven-hoofed animals against foot-and-mouth disease (FMD). FMD is a highly contagious viral disease of livestock and wildlife that causes illness characterized by fever and blisters inside the mouth and on the feet. The virus infects cattle, pigs, sheep, goats, deer, and other hoofed mammals. FMD vaccines are beneficial as they help protect livestock from the disease and related production losses.
The global Foot And Mouth Disease Vaccine market is estimated to be valued at US$ 5.6 Bn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the Foot And Mouth Disease Vaccine market are Banner Engineering Corporation, Rockwell Automation Inc., Pepperl+Fuchs SE, Emerson Electric Company, Panasonic Industry Europe GmbH (Panasonic Corporation), Honeywell International Inc., Sick AG, Yokogawa Electric Corporation, Omron Corporation, ABB Ltd., General Electric Company, Schneider Electric SE, and Siemens AG. These players are engaged in developing and providing advanced vaccines to immunize livestock against FMD.
The demand for FMD vaccines is growing due to the rising concern of outbreaks of FMD in livestock. Various countries have made vaccination mandatory to control the spread of the virus. The increase in animal agriculture and livestock population globally is also fueling the need for immunization.
The Foot And Mouth Disease Vaccines Market Demand is witnessing expansion in international trade of animals and animal products. This has increased the risks of FMD transmission across borders. Many regions and countries are focusing on vaccination programs to support global export of livestock and obtain FMD-free status from bodies like OIE. This is driving players to develop more effective and affordable FMD vaccines.
Market Drivers
A major market driver is the rising global livestock population due to the growing demand for meat and animal products. Increased consumption of dairy and meat in developing countries is boosting livestock rearing. This has significantly raised the risk of FMD outbreaks which is creating heightened need for vaccination programs. According to FAO, the world population of cattle is estimated to rise to 1.7 billion heads by 2050 from 1.5 billion currently. The larger livestock base expands the target audience for FMD vaccines.
Impact of geopolitical situation on Foot and Mouth Disease Vaccine market growth
The current geopolitical instability across various regions is negatively impacting the growth of the foot and mouth disease vaccine market. Geopolitical conflicts and economic sanctions have disrupted international trade and supply chain networks. This poses challenges for importing raw materials and finished products. Manufacturers now face delays and uncertainties in procuring critical components. They have to rely more on local sourcing, impacting productivity and cost efficiencies.
The outbreak of conflicts also drives migration of populations across borders. This increases the risk of the foot and mouth disease virus spreading to new regions. Governments need stronger cross-border coordination and cooperation to control disease outbreaks. Vaccine makers should explore partnering with local Foot And Mouth Disease Vaccine Companies in strategically important markets. This would make their supply more resilient to geopolitical disruptions. Overall, reduced cross-border collaboration poses hurdles for expanding vaccination programs to meet global eradication targets.
Geographical Regions
The foot and mouth disease vaccine market in terms of value is highly concentrated in South Asia and East Asia. These regions account for over 60% of the global market revenue. This is due to the large cattle population and prevalence of outbreaks in major markets like India, China, Indonesia and Vietnam. Low vaccination rates in many South Asian countries continue to put large livestock at risk. In countries like India, the government’s disease control programs heavily rely on routine mass vaccination drives. East Asia is also focusing on vaccination-based strategies to manage recurring outbreaks. Manufacturers find these densely populated regions with agrarian economies as lucrative market opportunities.
Fastest growing region for Foot and Mouth Disease Vaccine market
Africa is expected to witness the fastest revenue growth in the foot and mouth disease vaccine market during the forecast period. While African nations currently represent a small share of the global market, demand is rising sharply due to increasing government initiatives. There is a growing focus on boosting vaccination coverage across borders to curb transnational spread. Regional economic groupings like AU are also collaborating to strengthen regional vaccine supply chains. Population growth is further driving demand for animal proteins in many African countries. This is propelling investments towards commercial livestock farming and modernization of the veterinary healthcare sector. If control measures are sustained well, Africa holds promising future prospects.
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About Author-
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice’s dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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