The global foot and mouth disease vaccines market is expected to exhibit a higher CAGR during the forecast period. Vaccine is one of the effective methods to manage or eradicate the disease when applied properly and with a desirable composition. Foot and mouth disease remains a common problem across the world and any FMD epidemic can lead in potential hazards on farmers leaving an adverse effect on production income, livestock assets, nutrition and consumption.
The costs incurred in keeping the disease within the control is much higher as compared to the total expense of the FMD control, hence it is very essential for farmers to assess the vaccine and vaccination effectiveness before deploying. Foot and mouth disease vaccines market is driven by high prevalence of zoonotic diseases in animals and preventive measures undertaken by the government to eradicate the disease. Healthy initiatives undertaken by NGOs and government mandate for safer healthcare practices for livestock is more likely to propel the market growth during the forecast period.
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Rise in demand for animal products such as eggs, meat, chicken and other products coupled with technological developments are stirring the market growth. In addition, rise in animal husbandry in developing and developed economies are significant. By technique, the market is segmented as emergency and conventional vaccines. Animal type segmentation for foot and mouth disease vaccines market comprises goat, pigs, cattle and sheep.
Geographical segmentation for foot and mouth disease vaccines industry spans North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific market are most likely to propel the market growth during the forecast period due to medication and vaccination facilities to preserve the livestock population. North America’s foot and mouth disease vaccine market is likely to lead the market growth due to stringent rules and regulations for international shipping of animal products have helped in lessening the risk of foot and mouth disease.
European market is more likely to witness a higher growth due to stringent policies and framework for animal diagnosis. Government initiatives are more likely to stimulate the market growth during the forecast period in Europe. MEA regions are likely to exhibit an unprecedented growth due to significance of animal rearing and vaccination. The key players profiled in the foot and mouth disease vaccines market report are Biogenesis Bago, Empresa Colombiana De Productos Veterinarios S.A., Veterinary Serum, Indian Immunologicals Limited, FMD Center, Limor De Colombia and FGBI.
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