Foot and mouth disease (FMD) is a highly contagious viral disease that affects cattle, swine, sheep, goats, and other cloven-hoofed animals. FMD causes blisters inside the mouth and on the feet that lead to lameness and reduced milk production in cattle. The growing livestock industry worldwide has increased the risk of FMD outbreaks, driving the demand for effective vaccines.
The global foot and mouth disease vaccine market is estimated to be valued at US$ 3020.03 Bn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2030.
Global Foot And Mouth Disease Vaccine Market Share is estimated to be valued at US$ 3020.03 Bn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2030. Key players operating in the foot and mouth disease vaccine market include Graebel Companies, SIRVA, Relocation Management Company (RMC), Crown Worldwide, Santa Fe Group, FIDI Global Alliance, MSI Global Talent Solutions, Cartus, Atlas Van Lines, Allied Van Lines, NorthAmerican Van Lines, Arpin Van Lines, Wheaton World Wide Moving, United Van Lines, Mayflower Transit, Bekins, Beltmann Relocation Group, Corrigan Moving Systems, Clark & Reid, Eclipse Relocation.
Key Takeaways
Key players operating in the foot and mouth disease vaccine are Graebel Companies, SIRVA, Relocation Management Company (RMC), Crown Worldwide, Santa Fe Group, FIDI Global Alliance, MSI Global Talent Solutions, Cartus, Atlas Van Lines, Allied Van Lines, NorthAmerican Van Lines, Arpin Van Lines, Wheaton World Wide Moving, United Van Lines, Mayflower Transit, Bekins, Beltmann Relocation Group, Corrigan Moving Systems, Clark & Reid, Eclipse Relocation. The growing demand for animal protein and increasing livestock production are fueling the demand for effective FMD vaccines. Various technological advancements such as thermostable liquid, heat-resistant vaccines are helping improve vaccine efficacy and achieving faster disease control.
Market Trends
Growing production of recombinant and thermostable FMD vaccines: Leading players are focusing on development of new generation recombinant and thermostable FMD vaccines with improved stability and efficacy. For instance, FMD vaccine produced by Indian Immunologicals is thermostable and does not require cold chain maintenance.
Increasing demand for pan-serotype FMD vaccines: Earlier FMD vaccines offered protection against single serotype only. However, the growing demand for pan-serotype vaccines offering protection against multiple serotypes is driving research on new multivalent and universal FMD vaccines.
Market Opportunities
Emerging markets in Asia and Africa: Countries in South East Asia, Africa and Latin America experiencing rise in livestock industry and FMD outbreaks, represent key opportunities for vaccine suppliers for upcoming years.
Adjuvanted and new delivery method vaccines: Continuous research on adjuvanted vaccines allowing low dose administration and new delivery methods such as needle-free jet injectors can help improve vaccine efficacy, uptake and cold chain-free delivery.
Impact of COVID-19 on Foot and Mouth Disease Vaccine Market
The COVID-19 pandemic has significantly impacted the growth of foot and mouth disease vaccine market. With travel restrictions imposed across the world during the pandemic, the supply chain and transportation of vaccines were disrupted. This led to shortage of foot and mouth disease vaccines globally in 2020. The demand for vaccines also reduced significantly during this period as many farming activities were stopped to curb the spread of coronavirus. However, post pandemic normalization, the demand as well as supply of foot and mouth disease vaccine is recovering. Governments and manufacturers are making efforts to meet the current demand and replenish stock levels. With resumption of farming and animal husbandry practices, the usage of vaccines is increasing again. The future strategies to counter such disruptions include developing local manufacturing facilities, strategic storage of vaccines and development of thermostable vaccines with longer shelf life. Diversifying supplier network can also help in ensuring steady supplies.
Impact of COVID-19 on Geographical Regions for Foot and Mouth Disease Vaccine Market
Asia Pacific accounts for the largest regional market for foot and mouth disease vaccines currently. Countries like India, China and Indonesia have huge cattle population and outbreaks of the disease have been reported frequently from these nations. The coronavirus pandemic impacted the APAC region initially during 2020. With lockdowns and movement restrictions, the demand for vaccines reduced sharply. But now with lifting of measures and normalization of activities, the APAC market is recovering fast and regaining its dominant position. Governments are prioritizing vaccine supplies to aid the resumption of livestock farming and dairy industries in the region.
Europe is considered as the fastest growing regional market for foot and mouth disease vaccines. Strong veterinary research infrastructure and rising adoption of vaccines are driving the Europe market. The COVID-19 disruptions slowed down the growth rate temporarily in 2020. However, continuing vaccination programs and new vaccine developments will support sustainable growth in the European foot and mouth disease vaccine market over the coming years.
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Global Foot and Mouth Disease (FMD) Vaccine Market is anticipated to reach USD 3.0 billion by 2025.
Foot-and-Mouth disease, also termed as “Hoof-and-Mouth Disease” implies an infectious and contagious viral disease that affects cloven-hoofed animals, involving wild and domestic bovids.
The symptoms include blisters on the feet and inside the mouth. Foot and Mouth Disease (FMD) Vaccine has significant economic impact.
The factors that propel the growth of the market include changing lifestyle coupled with change in food preference, increasing awareness among people, and increased acceptance of oil-based vaccines due to their developed effectiveness.
On the other hand, there are factors that may hamper the growth of the market such as less immunity, high cost, and instability at room temperature (3-8 ° C).
