FMD Vaccine Market - Shield against Economic Loss
Foot and Mouth Disease (FMD) is infectious disease in domestic animals caused due to viral strain Aphtovirus of the family picornaviridae. It majorly affects cloven hooved livestock such as cattle, goat, sheep, swine, and other animals. It can spread through both direct and indirect modes. Foot and mouth disease causes high morbidity in animals and results into significant economic loss due to decreased milk productions, permanent hoof damage, and chronic mastitis.
Although adult animals can recover from disease, mortality is high among young animals, as immunity is not well developed due to which foot and mouth disease vaccination is essential. Disease is characterized by the fever and blistery sore on tongue, lips and oral cavity. Foot and mouth disease is best preventable by vaccinating the livestock. There are total seven strains (A, O, C, SAT1, SAT2, SAT3, and Asia1) of virus that affects animals, symptoms produced are similar in each strain and they can be distinguished only through laboratory tests. Various regions around world are affected by different set of viral strain therefore each strain requires specific vaccine to prevent the infection. Inactivated vaccines are available to prevent animals from being infected by FMD
The global foot and mouth disease market size was valued at US$ 1,567 million in 2017, and is expected to witness a CAGR of 9.4% over the forecast period (2018 – 2026).
Figure 1. Global FMD Vaccines Market Value (US$ Mn), by Region, 2017
Source: Coherent Market Insights (2018)
Repetitive outbreak of FMD in animals negatively affecting economy is driving growth of the foot and mouth disease vaccine
Foot and Mouth Disease (FMD) causes repetitive outbreak around world thereby causing economic and social damage. Preventing foot and mouth disease is the only sustainable and viable options, which can be done only though the vaccination for FMD, which is expected to drive growth of the foot and mouth disease vaccine market. According to paper published by the Food and Agricultural Organization (FAO) and World Organization for Animal Health (OIE), in 2012, foot and mouth disease accounted for annual loss of US$ 5 billion worldwide.
FMB outbreaks affects food industry as it negatively impacts the export of milk, meat, and other animal products due to viral infection. 23 countries from Africa, Asia Pacific, Europe and Middle East reported outbreak of the FMD to the World Organization for Animal Health (OIE) in 2015 - 16. In India, annual loss of more than US$ 85 billion is reported each year due to FMD outbreak, which is negatively affecting dairy sector GDP of India.
Although foot and mouth disease is eradicated from North America and Western Europe, various economies of Asia Pacific, Africa and Latin America witnessed high incidences of epidemic in recent past, which is propelling demand for vaccines against foot and mouth disease in these regions. Various economies such as China, India, Brazil, Thailand etc. are at high risk of FMD outbreak, according to Monthly Report- Foot and Mouth Disease Situation by Food and Agricultural Organization published in February 2018.
However, vaccination against FMD may not prove to be effective by the antigenic diversity of the virus, the short-lived nature of protective immunity developed after vaccination and the temperature sensitivity that alters stability of FMD vaccines, which may restrain growth of the FMD vaccine market.
Figure 2. Revenue Share by Animal Type in FMD Vaccine market, 2017
Source: Coherent Market Insights (2018)
Increasing number of animal headcount worldwide is expected to drive growth of the foot and mouth disease vaccine market
High animal density and increasing population of livestock animal is expected to be major impetus for the growth of FMD vaccine market. According to U.S. Department of Agriculture data in 2017, India has cattle in number around 300 million, followed by Brazil and China. According to the factsheet by United Nations Food and Agriculture Organization (UN-FAO), worldwide there is close to one billion headcount of swine. China has highest number of swine headcount numbering 455 million. Infected animals can transmit infection to other animals if their movement is not restricted. Vaccination of animals for FMD prevents future risks and creates sustainable growth for animal population worldwide especially in a region, which are prone to FMD outbreak.
Key players operating foot and mouth disease vaccine market include Indian Immunologicals Ltd., Agrovet, MSD Animal Health, Vallee SA, Bayer HealthCare, Brilliant Bio Pharma Ltd., Intervet, Biovet, Merial, China Animal Husbandry Co., Ltd., Biogénesis-Bagó S.A, Vetal Animal Health Products S.A.VETAL Animal Health Products, and Vecol S.A.
Foot and Mouth Disease (FMD) is infectious disease, which majorly affects cattle, sheep, goats and swine. It is highly prevalent in regions such as Asia pacific, Latin America, Africa, Middle East and Eastern Europe. Foot and mouth diseases are gaining significant traction due to its economic impact on food industry, as it affects milk and meat production. Therefore, FMD vaccine play important role in the prevention of disease. Both oil-based and aluminum hydroxide adjuvants variety are available. However, oil-based vaccine hold dominant position in the FMD vaccine market
Outbreak of the foot and mouth disease and associated economic loses are important driver for the growth of the FMD vaccine market. According to World Organization for Animal Health (OIE), around 23 countries from Asia Pacific, Latin America and Africa reported FMD outbreak in the 2016. According to journal Acta Tropica published in May 2017, prevalence of FMD in Ethiopia ranges from 5.6% to 42.7% in cattle and from 4% to 11% in small ruminant and in 30% in ungulate wildlife. Five of seven serotypes, namely serotype O, A, C, SAT1 and SAT2 are most commonly observed. This hampers animal rearing and trade practice at significant extent. Government initiatives to combat FMD outbreak would be another important driver for growth of FMD vaccine market. In March, 2007, Argentina, Brazil, and Paraguay government committed to intensive vigilance for FMD in a shared zone encompassing a small area along both sides of their common borders. The agreement became effective due to joint evaluation mission by OIE
Key features of the study:
Global Foot and Mouth Disease Vaccine Market, By Vaccine Type
Global Foot and Mouth Disease Vaccine Market, By Animal Type
Global Foot and Mouth Disease Vaccine Market, By Geography
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 35 market data tables and 30 figures on "Foot and Mouth Disease Vaccine Market” - Global forecast to 2026”.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.