Categories: Market Research

Foot And Mouth Disease Vaccine Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Foot-and-mouth disease (FMD) vaccines are a medication used to boost the immune system’s defenses in animals against foot-and-mouth disease. FMD is a severe and highly infectious disease affecting all cloven-hoofed animals, including cattle, sheep, goats, camelids, deer, and pigs. Animals with the foot-and-mouth disease have a high body temperature, followed by blisters, primarily on the feet and in the mouth.

Sizing and Forecast
The foot and mouth disease vaccine market size has grown strongly in recent years. It will grow from $2.4 billion in 2023 to $2.63 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to development of multivalent vaccines, prevalence of foot and mouth disease, government initiatives for disease control, focus on food security, economic impact of fmd outbreaks, research and development investments..

The foot and mouth disease vaccine market size is expected to see strong growth in the next few years. It will grow to $3.82 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to climate change impact on disease spread, emergence of new fmd strains, one health approach, digitalization of vaccine distribution, enhanced vaccine cold chain infrastructure, continuous improvement in vaccine safety, integration with precision livestock farming, international aid for vaccination programs.. Major trends in the forecast period include global fmd eradication initiatives, development of multivalent vaccines, public-private partnerships, diagnostics and surveillance technologies, biotechnological innovations, genomic surveillance, adoption of marker vaccines..

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Segmentation & Regional Insights
The foot and mouth disease vaccine market covered in this report is segmented –

1) By Vaccine Type: Conventional Vaccines, Oil Based Vaccines, Aluminium Hydroxide/Saponin Based Vaccines, Emergency Vaccines
2) By Animal Type: Cattle, Pig, Sheep and Goat, Other Animals
3) By Distribution Channel: Government Organizations, Distributors/ Pharmacies, Private Vet, Other Distribution Channels

Asia-Pacific was the largest region in the foot and mouth disease vaccine market in 2023. The regions covered in the foot and mouth disease vaccine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing livestock population is driving the foot and mouth disease vaccine market. Livestock is farm animals housed, reared, and utilized by humans, including cows, horses, and pigs. There is a rise in the livestock population because of an increase in demand for animal products. As livestock increases, there is a chance of the prevalence of foot and mouth disease that can lead to market growth. For instance, according to a report published by the US Department of Agriculture in 2022, India’s national herd of cattle increased from 1.2 million in 2021 to 306.7 million in 2022. Therefore, the growing livestock population will propel the foot and mouth disease vaccine market.

Key Industry Players
Major companies operating in the foot and mouth disease vaccine market report are Godrej Agrovet Limited, Biogénesis Bagó S.A., Indian Immunologicals Limited, Limor de Colombia, Merck & Co. Inc., Brilliant Bio Pharma Ltd., Intervet India Private Limited, Biovet Private Limited, China Animal Husbandry Group, C.H. Boehringer Sohn AG & Co. KG, VECOL S.A, VETAL Animal Health Products Inc., The Spirit Jinyu Biological Pharmaceutical Co. Ltd., Careside Co. Ltd., Dong Bang Co. Ltd., FGBI‑ARRIAH, NAVETCO NATIONAL VETERINARY JOINT STOCK COMPANY, vetvaco national veterinary joint stock company, Ceva Santé Animale, MEVAC, Agrovet Market S.A., Alivira Animal Health Limited, Anicon Labor GmbH, Southern Cross Group, SPIC Gene Science Technology Development Co. Ltd., SRI International, Syngenta Animal Health, Vemedim Corporation, Veterinary Laboratories Agency, Zoetis Inc.

The foot and mouth disease vaccine market report table of contents includes:

1. Executive Summary

2. Foot And Mouth Disease Vaccine Market Characteristics

3. Foot And Mouth Disease Vaccine Market Trends And Strategies

4. Foot And Mouth Disease Vaccine Market – Macro Economic Scenario

5. Global Foot And Mouth Disease Vaccine Market Size and Growth
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31. Global Foot And Mouth Disease Vaccine Market Competitive Benchmarking

32. Global Foot And Mouth Disease Vaccine Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Foot And Mouth Disease Vaccine Market

34. Foot And Mouth Disease Vaccine Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players: