Market Trends of Global Foot and Mouth Disease Vaccines Industry
This section covers the major market trends shaping the Foot & Mouth Disease Vaccines Market according to our research experts:
Cattle Segment is Expected to Witness Significant Growth Over the Forecast Period
The growth of the cattle segment is mainly attributed to the high population of cattle across the world and the dominance of cattle farming as a major income source for people in many countries. For example, in countries such as China and Mexico where the livestock population is high, the chances of getting an infection would be higher. According to the Food and Agriculture Organization (FAO) in September 2021, India's national cattle herd to reach 306.7 million animals in 2022, increasing by 1.2 million head from the 2021 Italy cattle count.
Additionally, the launch of vaccination programs for cattle by various organizations is also expected to drive the growth of the studied segment. For instance, in August 2020, the Prayagraj animal husbandry launched a massive drive to inoculate the vaccines in cows and other cattle from foot and mouth disease.
The awareness about cattle diseases and zoonosis is currently growing due to the high demand for improved and healthy meat. Hence, these factors are anticipated to have a positive impact on the market in the coming years.
North America is Expected to Dominate the Foot and Mouth Disease Vaccines Market
North American region is among the major contributor to the foot and mouth disease vaccines market, owing to the implementation of animal healthcare benefits across the region. The market is growing rapidly due to the presence of advanced animal healthcare programs coupled with awareness regarding animal health is projected to drive the regional market growth.
Moreover, the rising disease burden in animals is further pushing the need for effective and quick treatment options which is expected to propel the growth of the market, over the forecast period. For instance, the article titled "Foreign animal disease concern: foot and mouth disease" published in December 2021 mentioned that Foot and mouth disease was a reportable disease in the United States. Foot and mouth disease devastates the United States livestock industry and causes catastrophic losses, hitting both the economy and animal welfare. Such impact on animal welfare by foot and mouth disease is expected to drive the demand for effective vaccination.
Also, the increasing product developments by various market players are expected to drive the growth of the market in this region. For instance, in August 2020 Zoetis, Inc applied for a petition to the Animal and Plant Health Inspection Services to approve the manufacture of foot and mouth disease vaccine in the United States.
Thus the above-mentioned factors are expected to drive the growth of the market in this region during the forecast period.
