Albany, NY -- (SBWIRE) -- 10/16/2017 -- The key players in the global foot and mouth disease vaccines market, as stated in a research report, hold small shares in a highly fragmented competitive landscape. The market is largely taken up by a high volume of regional players, a lot of whom are backed by governments and private investors. This has created an intense competitive landscape in the global foot and mouth disease vaccines market which is likely to remain the case over the coming years. The report puts players such as Inova Biotechnologia, Bayer AG, and Brilliant Bio Pharma Ltd., as the leading entities in the global foot and mouth disease vaccines market for 2014.
TMR's report suggests that the global foot and mouth disease vaccines market will demonstrate an encouraging 8.8% CAGR within the forecast period from 2014 to 2020. The market is therefore predicted to rise from its 2013 evaluation of US$0.51 bn to US$0.95 bn by the end of 2020.
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APAC Demand for FMD Vaccines Continues to Skyrocket
The global foot and mouth disease vaccines market's regional analysis, as given in the report, shows a strong dominant nature of demand coming from Asia Pacific. This region led the market in 2014 and is expected to continue its lead till the end of the report's forecast period. This is because foot and mouth disease has historically taken a severe toll on the animal husbandry industry of this region. Asia Pacific also holds the leading dairy and dairy products industries, a force perpetually pushing for the use of advanced treatment methods in animal husbandry.
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Rising Dairy and Meat Consumption Directly Impacts FMD Vaccine Demand
"The majority of the vaccines available in the global foot and mouth disease vaccines market are meant for animals, usually cattle, pigs, goats, and sheep. The demand for FMD vaccines for cattle were significantly higher than any other segment in 2013, a testament to the massive demand already present for cattle food products. Over the coming years, this consumption rate of meat as well as dairy products is very likely to rise at a swift pace, thanks to the surging population in all regions, and the increasing number of consumers choosing meat. The related animal husbandry industry, therefore, keen on making these products as safe as possible when it comes to preventing the growth of bacteria and/or deadly pathogens. For the global foot and mouth disease vaccines market, this spells a massive surge in demand, which is expected to continue being the case of the coming years," states a TMR analyst.
Future opportunities in the global foot and mouth disease vaccines market could heavily rely on the developments of the currently niche DNA vaccines. These vaccines are shown to hold massive potential and players are increasing investments and focus on their development. However, the larger players are negatively impacted by the rising government intervention in the global foot and mouth disease vaccines market, in terms of providing concessions on the purchase of vaccines by consumers.
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Oil-based FMD Vaccines Expected to Gain Favor
Conventional vaccines are expected to be increasingly popular over the coming years. One of the sub-categories in conventional FMD vaccines, the oil-based version – is expected to show massive potential over the coming years. This segment already dominated the global market, taking up 63% of it in 2013. The increasing adoption of routine vaccination programs to eradicate or control the disease spread will help the segment of conventional FMD vaccines to gain increased demand in the near future.
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