Foot and Mouth Disease Vaccines Market
Market Overview:
During the forecast period, 2018-2023, the Foot and Mouth Disease FMD vaccines are expected to record a growth rate of nearly 7.4%. Foot and mouth disease is present in the animal population of livestock and poses a severe danger worldwide. Increasing demand for animal products and increasing zoonotic diseases coupled with growing livestock are the key factors that boost market growth.
Increasing Zoonotic Diseases:
Zoonosis are the infectious diseases that can be transferred between humans and animals. Adverse climatic changes and rapid globalization are the major factors that have increased livestock and zoonotic disease cases over the past decades. Asian and African regions reported 55,000 people dying with rabies, according to the World Health Organization WHO . Moreover, WHO states that in 2003, 50,000 cases of human brucellosis were reported by countries around the Mediterranean Sea.
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With regard to the increasing burden of zoonotic diseases coupled with the associated financial burden, governments are taking various initiatives to mandate safe practices in the health care of animal breeding for livestock and companion animals. Therefore, it is expected that the above factors will boost market growth.
Rising government intervention:
Increasing public interventions in FMD vaccines are anticipated to hinder market growth. Some governments buy the FMD vaccines in bulk from manufacturers and supplies at a subsidized rate to various farms, veterinary clinics and animal husbandries. These low rates hamper manufacturers substantial profit. For example, Indian government institutions such as FMDCP, ASCAD, and others are producing and supplying livestock owners with FMD vaccines. As a result, rising government intervention in FMD vaccines restricts market growth.
Asia-Pacific Region to Dominate Foot and Mouth Disease Vaccines Market:
Asia-Pacific region captures the biggest market share due to the existence of nations with a bigger population of animals and the existence of significant players in the region. Due to intensive farming systems and naive susceptible animal populations, the East Asian region experienced a major FMD outbreak in 2000 and 2010. It is expected that many such cases and the associated risks associated with the presence of large livestock populations will propel market growth. Moreover, market growth is expected to be driven by increasing investment in R&D and market players constant efforts to market veterinary vaccines. But the urgent need to control this diseases high incidence is expected to boost the regions market growth.
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Foot and mouth disease vaccines market Key developments:
June 2018 — Chandigarh Zoo authorities are to vaccinate more than 100 animals for foot and mouth disease in the Mahendra Chaudhary Zoological Park, popularly known as the Chhatbir Zoo, and will vaccinate more than 100 animals in the months ahead.
May 2018– A new strain of an FMD virus has been identified by scientists at the National Agricultural Research Organization: a Southern African Territory 3 SAT 3, which attacks animals and causes mouth and sore feet lesions and subsequently inhibits the ability of animals to eat or move.
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