The global Foot And Mouth Disease Vaccine Market is estimated to be valued at US$ 2621.55 Mn in 2023 and is expected to exhibit a CAGR of 9.4%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Foot and mouth disease vaccine contains inactivated virus strains that help the body develop immunity against foot-and-mouth disease. It is mostly administered to cloven-hoofed animals. The vaccine provides protection from direct virus exposure and reduces the severity of symptoms in infected animals.

Market key trends:
One of the key trend in the foot and mouth disease vaccine market is the increasing demand for thermostable vaccines. The conventional Foot and Mouth Disease (FMD) vaccines need a cold chain during transportation and storage to maintain their potency and efficacy which makes handling and distribution difficult especially in tropical countries. However, development of thermostable FMD vaccines which can withstand higher temperatures without any loss of potency has allowed flexible delivery and ease of use in remote areas.

For example, the new thermostable FMD vaccine developed by Indian Immunologicals maintains efficacy even after undergoing temperature variations between 2°C to 40°C for over a month. This makes transportation and storage under tropical conditions feasible. This has spurred the demand for thermostable FMD vaccines globally.
SWOT Analysis
Strength: The Global Foot And Mouth Disease Vaccine Market Size  has strong presence of established players who have significantly invested in R&D to develop safe and effective vaccines. Wide availability of different types of vaccines like Clover, Conventional, and Emergency vaccines to cater different needs.
Weakness: High costs associated with vaccine production and regulatory approvals. Outbreak of new strains can undermine effectiveness of existing vaccines.
Opportunity: Growth opportunities in developing regions of Asia and Africa due to increasing livestock and rising awareness. New advanced vaccines in pipeline against difficult-to-control strains can drive future growth.
Threats: Easy spread of the disease across borders poses risks. Environmental factors or mutations can aid virus resistance against vaccines over time.
Key Takeaways
The global Foot And Mouth Disease Vaccine market is expected to witness high growth, exhibiting CAGR of 9.4%  over the forecast period, due to increasing meat consumption and risk of outbreaks. Asia Pacific region is expected to dominate the market owing to large livestock population and increasing adoption of vaccines in countries like India and China. Key players operating in the Foot And Mouth Disease Vaccine market are Agrovet, Indian Immunologicals Ltd., MSD Animal Health, Vallee SA, Bayer HealthCare, Brilliant Bio Pharma Ltd., Intervet, Biovet, Merial, China Animal Husbandry Co., Ltd., VETAL Animal Health Products S.A., and Vecol S.A.

Regional analysis
The Asia Pacific region dominated the Foot And Mouth Disease Vaccine market in 2023 due to large livestock population in China and India which are highly susceptible to the disease. Increasing adoption of vaccination practices and awareness among farmers in the developing nations is expected to drive market growth over the forecast period. North America and Europe are also significant markets though outbreaks are sporadic, supported by stringent regulations around livestock imports.

Key players
Key players operating in the Foot And Mouth Disease Vaccine market include Agrovet, Indian Immunologicals Ltd., MSD Animal Health, Vallee SA, Bayer HealthCare, Brilliant Bio Pharma Ltd., Intervet, Biovet, Merial, China Animal Husbandry Co., Ltd., VETAL Animal Health Products S.A., and Vecol S.A. Major players are focused on expanding their product portfolio and global footprint through collaborations with regional players.

Read More: https://businessinmyarea.com/latest/the-adoption-of-recombinant-vaccine-technology-is-anticipated-to-openup-the-new-avenue-for-foot-and-mouth-disease-vaccine-market