Thursday 23 November 2017, Amsterdam
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.
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