The demand within the global foot and mouth disease (FMD) vaccines market is slated to grow at a sound pace in the years to follow. The changing attitudes of the masses towards animals, reflective of compassion and care, has played a key role in market growth. Foot and mouth diseases can be extremely painful for grazing animals if they persist for a long period of time. Besides, the pain and discomfort caused by foot and mouth diseases has also led vets to endorse premium treatments for suffering animals. Henceforth, the total volume of revenues within the global foot and mouth disease vaccines market is slated to grow at a sound pace. The growing sophistication of the veterinary healthcare industry has created fresh opportunities for market growth.
Transparency Market Research (TMR), in its report, finds that the global foot and mouth disease vaccines market would grow at a stellar CAGR of 8.80% over the period between 2014 and 2020. The total value of the global foot and mouth disease market is expected to reach a value of US$0.95 bn by 2020-end, rising up from a value of US$0.51 bn in 2013. The relevance of medical research within veterinary analysis has been the primary driver of market demand.
Breeding and Nourishment of Farm Animals
The next decade is expected to witness advancements in the field of agriculture and farming. Besides, breeding of farm animals has also become a prominent trend across several regional entities. For this reason, the global foot and mouth disease vaccines market is at an important juncture that could lead the vendors to optimal growth. The medical industry is making efforts to reduce the incidence of endemics and plagues that can affect a genus of animals. This trend, coupled with advancements in medical experiments and research, has paved way for increased market revenues.
Increasing Demand for Meat and Dairy Products
Meat and dairy products have witnessed an increase in demand in recent times. This has in turn created the need to nourish and care for dairy cows, goats, and sheep. The large number of farms that breed cattle has created new opportunities for expansion within the global foot and mouth disease vaccines market. Animal rights activists have, time and again, focused on the need to institute proper treatment lines for farm and dairy animals. This factor has created a plenitude of avenues for the market vendors to capitalise upon in the years to follow.
Some of the leading vendors operating in the global foot and mouth disease vaccines market are Brilliant Bio Pharma Ltd, Inova Biotecnologia, Agrovet Co., Biogenesis Bago, Bayer AG, and Indian Immunologicals Ltd. The leading players in the global foot and mouth disease market are expected to focus on informing animal farm owners about the importance of vaccination.
The global foot and mouth disease market can be segmented on the basis of:
- Conventional Vaccines
- Aluminum Hydroxide/Saponin
- Oil Based
- Emergency Vaccines
- Conventional Vaccines
- Sheep and Goats
- North America
- South Korea
- Rest of APAC
- Rest of the World
- Latin America
- South Africa
- Rest of Africa
- Rest of RoW