The foot and mouth disease vaccine market comprises vaccines that offer protection against foot and mouth disease (FMD), a highly contagious viral disease that primarily affects cloven-hoofed animals including livestock such as cattle, pigs, sheep, goats, and deer. Foot and mouth disease vaccines provide immunity by stimulating the body's immune system to recognize the virus and fight against it if exposure occurs.
FMD causes fever, decreased appetite, and blisters inside the mouth and on the feet that heal quickly but leave the animals vulnerable to other diseases. While the disease rarely affects humans, it can cause significant production losses in farm animals. Estimates suggest the global foot and mouth disease vaccine market is valued at US$ 5.6 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2031. Key Takeaways Key players operating in the foot and mouth disease vaccine market are Banner Engineering Corporation, Rockwell Automation Inc., Pepperl+Fuchs SE, Emerson Electric Company, Panasonic Industry Europe GmbH (Panasonic Corporation), Honeywell International Inc., Sick AG, Yokogawa Electric Corporation, Omron Corporation, ABB Ltd., General Electric Company, Schneider Electric SE, and Siemens AG. These key players are involved in new product launches and expansions to strengthen their market position. The growing livestock industry across the globe is fueling Foot And Mouth Disease Vaccines Market Demand. Foot and mouth disease poses a significant threat to international trade in cloven-hoofed animals and their products. Therefore, vaccines serve as an essential tool for countries to gain FMD-free status and facilitate trade. The global expansion of leading foot and mouth disease vaccine manufacturers through partnerships and collaborations with governments is further supporting the market growth. Growing meat consumption along with population and economic growth in emerging nations is driving international players to expand their presence in Asia Pacific, Middle East, and Africa. Market Key Trends One of the major trends in the foot and mouth disease vaccine market is the development of thermostable vaccines. Conventional vaccines require cold chain maintenance from manufacturing to administration, which is challenging for tropical countries and developing regions. New thermostable vaccines not requiring refrigeration are easier to transport and administer, improving vaccination programs globally. Companies are investing in research to extend the thermostability of vaccines at elevated temperatures for more than thirty days without refrigeration. This development is expected to boost vaccination coverage against foot and mouth disease worldwide.
Porter’s Analysis Threat of new entrants: The threat is low as setting up vaccine manufacturing facility requires huge capital investments and regulatory approvals. However, growing demand is attracting new players. Bargaining power of buyers: Buyers have moderate to high bargaining power. Drug are essential for livestock so farmers can compare prices. Governments are major buyers. Bargaining power of suppliers: Foot And Mouth Disease Vaccine Companies have moderate bargaining power due to presence of multiple suppliers of raw materials and outsourcing opportunities. Threat of new substitutes: No substitutes currently exist for Foot and Mouth Disease Vaccine. Competitive rivalry: High as major companies compete intensely on manufacturing capacities and pricing. The geographical region where the Foot and Mouth Disease Vaccine market is concentrated in terms of value currently is Asia Pacific. Countries like China, India, and others witness a high prevalence of foot and mouth disease in livestock. These countries represent the major demand globally. The fastest growing region for the Foot and Mouth Disease Vaccine market currently is Europe. Countries like the UK, Germany, France implement mandatory vaccination programs against the disease which is boosting the regional market growth. Rising awareness about economic losses from the disease outbreaks is also driving the adoption of vaccination in Europe.
About Author-
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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