The global foot and mouth disease (FMD) vaccines market was valued at US$0.51 billion in 2013 and is predicted to be valued at US$0.95 billion by 2020. Rising cases of FMD in countries such as India, Malaysia, China, Africa, South Korea, and Algeria will allow the global foot and mouth disease vaccines market to grow at a CAGR of 8.8% from 2014 to 2020.
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Asia Pacific Driving Global Foot and Mouth Disease Vaccines Market
The growing number of people suffering from foot and mouth disease has resulted in the steady growth of the global foot and mouth disease vaccines market. The global FMD vaccines market is geographically segmented into Europe, Asia Pacific, North America, and other countries from around the globe. Asia Pacific drives the global foot and mouth disease vaccines market geographically. Holding a 70% share in the global market, the APAC market is led by countries such as China, India, Pakistan, Bangladesh, Hong Kong, and South Korea. Nonetheless, Europe and North America are expected to have some influence on the foot and mouth disease vaccines market in the forecast period.
Lately, a high number of FMD cases was recorded in countries from Rest of the World. Viral FMD, commonly seen in children, was recorded in some regions, equally prevalent among babies and adults.
FMD in babies is frequently seen in daycares due to frequent diaper changes. Most of the children affected by foot and mouth disease were from daycares, where viral illnesses can easily spread. According to Dr. Jay Marque, associated with Lake Charles Urgent Care, if any rashes, burns, blisters, or sores are seen on feet, face, or hands, it is a clear sign of foot and mouth disease. As foot and mouth disease is viral, antibiotics don’t provide quick relief. Thus the growing importance of FMD vaccines. Increasing frequency of FMD around the globe has resulted in the growth of the global foot and mouth disease vaccines market.
High prevalence of foot and mouth disease, especially in Asian countries, Latin America, and the Middle East, has led to growth of the global foot and mouth disease FMD vaccines market. Agrovet Co., Brilliant Bio Pharma Ltd., Intervac Pvt. Ltd., Biogenesis Bago, and Merial are some of the leading players in the global foot and mouth disease FMD vaccines market.
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Global Foot and Mouth Disease Vaccines Market Driven by Oil-based Vaccines
In 2013, the global FMD vaccines market was driven by oil-based vaccines. 63% of the total market was accounted for by oil-based vaccines. The global foot and mouth disease vaccines market is also segmented on the basis of geography and application. On the basis of application, the global foot and mouth disease FMD vaccines market is divided into pigs, cattle, goats, sheep, and others. Rise in the frequency of foot and mouth disease in livestock has directly affected the meat and dairy industries. As a result, the meat and dairy industries will contribute heavily towards the growth of the global foot and mouth disease vaccines market.