Foot and Mouth Disease Vaccines Market (Types- Conventional (Aluminum Hydroxide/Saponin and Oil Based Vaccines) and Emergency Vaccines; Application- Cattle, Pigs, Sheep and Goat and Others - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
Albany, NY -- (SBWIRE) -- 05/27/2015 -- Transparency Market Research has released a new report on the global foot and mouth disease (FMD) vaccines market, which forecasts the growth of the overall FMD vaccines market at a CAGR of 8.8% during the period from 2014 to 2020. The FMD vaccines market was valued at US$0.51 billion in 2013. Due to the increasing frequency of FMD outbreaks, the report projects that the market will reach a worth of US$0.95 billion by the end of 2020. The report is titled 'Foot and Mouth Disease Vaccines Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020'.
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Caused by Aphthovirus, FMD is highly infectious viral disease which affects cloven-hoofed animals and leads to high mortality rate among the young stock such as lambs and piglets. The high prevalence of FMD across the globe affects the international trade in livestock products. The report provides an overview of the overall global FMD vaccines market and evaluates the growth drivers and restraints. Favorable government initiatives to control FMD outbreaks have boosted the growth of the global FMD vaccines market. Also, rising consumption of meat and dairy products demands healthy livestock, which has further fuelled the need for FMD vaccines. The report mentions that the involvement by various governments in purchasing FMD vaccines will lead to the dip in cost which will negatively affect the global FMD vaccines market in terms of revenue. FMD is caused by seven different types of serotype and the current vaccines are serotype-specific. Unpredictable serotype outbreaks can hamper the growth of the global FMD vaccines market. The report indicates that DNA vaccines will open new opportunities for the market during the forecast period.
Depending upon the type of vaccines, the report segments the global FMD vaccines market into conventional vaccines and emergency vaccines. The conventional vaccines have been further categorized into aluminum hydroxide or Saponin based vaccines, and oil-based vaccines. In 2013, oil-based FMD vaccines dominated the global FMD vaccines market with a market share of 63%, owing to its high efficiency and longer effect in treating the disease.
On the basis of application on the livestock, the global FMD vaccines market has been divided into cattle, pigs, sheep and goats, and others. To meet the increasing demand for milk and meat, cattle are reared the most across the globe, owing to which it has emerged as the largest application segment of the global FMD vaccines market. In Middle-east, as pork consumption is prohibited, the cattle segments contribute significantly to the FMD vaccines market of the region. The report predicts that the cattle segment will exhibit the fastest growth during the forecast horizon.
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Geographically, the global FMD vaccines market has been segmented into four key regions: Europe, North America, Asia Pacific, and Rest of the World. As the disease is non-existent in North America and Europe, the scope of the growth of the vaccines market in these regions is negligible. Due to frequent outbreaks of FMD in Asia Pacific region, the global FMD vaccines market has been dominated by this region with more than 70% share. The report documents the market revenue in China, India, Malaysia, South Korea, and rest of APAC during the forecast period. The report profiles some of the key vendors of the global FMD vaccines market such as Indian Immunologicals Ltd., Bayer AG, Agrovet Co., and Brilliant Bio Pharma Ltd.
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