Foot and Mouth Disease Vaccine Market Is Predicted To Grow Swiftly Due To Increased Adoption Of Oil-Based Vaccines Till 2025: Grand View Research, Inc.
The
global foot and mouth disease (FMD) vaccine market is
expected to reach USD 3.0 billion by 2025, according to a new report by Grand
View Research, Inc. Increase in incidence of FMD and their socioeconomic impact
over international trade of animal products are propelling the demand for FMD
vaccines. In addition, effectiveness for lower time period propels repeat
purchase of vaccines.
This
market is highly competitive and various government entities intervene for bulk
purchase of vaccines. There has been a dynamic growth in the global livestock
population over the past few decades. In developing countries, the demand for
livestock products is increasing owing to which concern for healthy livestock
population is increasing.Rising demand for animal products has revolutionized
the global livestock production. In addition, factors such as change in food
preferences owing to changing lifestyle coupled with growing population are
anticipated to boost the demand for livestock products.
Increased
adoption of oil-based vaccines owing to their higher efficacy is expected to
contribute to the largest share of conventional vaccines. Available
conventional vaccines are effective in the prevention of clinical diseases;
however, they offer protection for a shorter duration. Hence, as a prophylactic
measure, frequent vaccination becomes necessary.
Browse full research report on Foot and
Mouth Disease (FMD) Vaccine Market: http://www.grandviewresearch.com/industry-analysis/foot-mouth-disease-fmd-vaccine-market
Further key findings from the study
suggest:
- Conventional
vaccines emerged as the largest segment because of increasing approvals of
vaccines and higher efficacy
- The
cattle segment accounted for the largest share in the animal type segment
owing to increase in domestic livestock population and number of outbreaks
- Sheep
and Goat segment is expected to grow at the fastest rate over the forecast
period owing to rising incidence of FMD infection in sheep population and
the need for reducing slaughter of infected animals.
- Asia
Pacific dominated the market with the largest share in 2016. Rise in
incidence of FMD and increase in demand for livestock products are
facilitating dominance of the region during the forecast period.
- Key
players including Agrovet Co.; Biogénesis Bago; Empresa Colombiana de
Productos Veterinarios S.A. Vecol S.A.; FGBI - Federal Centre for Animal
Health ; Indian Immunologicals Limited ; Merial (France); Veterinary Serum
and Vaccine Research Institute; FMD Center; and Limor de Colombia are
leading the global FMD vaccine market.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-foot-mouth-disease-fmd-vaccine-market
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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