Foot and mouth disease (FMD) might have a comparatively low mortality rate, but the economic burden of this disease is significant. An outbreak of the disease not only dents meat and milk production, but also compels governments and healthcare agencies to spend sizeable sums on curbing its spread. Thus, the focus on not just preventing, but entirely eradicating this highly contagious disease has only grown deeper in recent years.
These eradication programs have provided a boost to the demand for foot and mouth disease vaccines market. This will result in demand for foot and mouth disease vaccines to hold steady in the coming years. As the consumption of meat and dairy products continues to grow, there is more pressure on the livestock industry to take preventative measures against the outbreak of FMD. The global FMD vaccines market is projected to have a valuation of US$0.95 bn by 2020.
Here’s a lowdown on trends that will have a tangible effect on the global FMD vaccines market in the near future:
Demand for Conventional Vaccines Expected to Rise as Eradication Programs Come into Force: The two types of vaccines that are most widely used are: conventional and emergency vaccines. Oil-based vaccines, classified as a type of conventional vaccine, are widely used to control FMD. Sales of oil-based vaccines have been high in recent years, acting as a major driver for the global foot and mouth disease vaccines market. A number of countries have allocated budgets for the eradication of foot and mouth disease. As these countries implement routine vaccination programs, demand for conventional vaccines is expected to hold steady over the next few years.
Demand for FMD Vaccines for Cattle Projected to Remain High: The foot and mouth disease primarily affects cloven-hoofed animals such as cattle, goat, sheep, and pigs. However, other animals such as deer, giraffe, elephants, and camel can also contract the aphthovirus, which causes the foot and mouth disease. The demand for FMD vaccines is the highest for use on cattle because of the high cattle population worldwide. The demand for foot and mouth disease vaccines for cattle is expected to remain steady because cattle rearing is on the rise in keeping with the growing demand for animal protein.
Entering Countries where FMD is Endemic Identified as Major Opportunity: Currently, the market for FMD vaccines is characterized by fragmentation as several local players compete with global companies to improve sales. Recognizing the gravity of an outbreak of the disease, several countries where FMD is endemic have established their own vaccine manufacturing facilities. This prevents global players from being able to establish a strong presence in such countries. The most preferred way for larger companies to make inroads into such regional markets, thus, is by acquiring smaller companies to leverage the latter’s existing portfolio.
Browse the full Foot and Mouth Disease Vaccines Market report at http://www.mrrse.com/foot-mouth-disease-vaccines
Currently, Asia Pacific holds a sizeable share in the global foot and mouth disease vaccines market, and will continue to remain an important market for companies in the global foot and mouth disease vaccines market. Countries in the Rest of the World and Africa are exhibiting greater demand for FMD vaccines, making these lucrative markets worth investing in.