The top three players in the global Foot and Mouth Disease (FMD) such as Merial, MSD Animal Health (Merck), and Bayer AG account for 74.6% of the overall market. However, the global FMD market is highly fragmented due to the presence of many local players, reports Transparency Market Research (TMR) in a new study. Some of the local players are Agrovet, Brilliant Bio Pharma Ltd., Centro Diagnóstico Veterinario, Intervac (PVT) Ltd., Inova Biotecnologia Saúde Animal Ltda., Razi Vaccine Serum Research Institute and Indian Immunologicals Limited.
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“The manufacturers are competing not only with private players, but also governments of many countries who have set up their own FMD vaccines manufacturing units,” says the author of the report.
Growing Consumption of Meat in European Countries Boosts the Demand for FMD Vaccines
India, China, and Hong Kong are the top three countries of Asia involved in the export of beef and pork. Denmark, France, and Spain import most of their meat products from Asia. Thus, augmenting export of meat products increases the requirement of healthy livestock, thereby fueling the demand for FMD vaccines.
Countries in Asia and Africa encounter FMD outbreaks at an alarming rate. The governments of these countries are, thus, taking certain initiatives to control FMD outbreaks. Hence, favorable government initiatives are likely to accentuate the demand of FMD vaccines. A latest trend observed in the FMD vaccines market is the development of DNA vaccines. These vaccines provide better results and have a longer lasting effect than the conventional vaccines. Therefore, manufacturers are financing these vaccines in order to generate more revenue.
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Government Intervention in Distribution Reduces the Cost of Vaccine
Governments play a vital role in the distribution of FMD vaccines. They purchase vaccines directly from manufacturers in bulk and supply it to various farms, vet clinics, and animal husbandries at a reduced rate. For instance, Government of India buys FMD vaccines from manufacturers in bulk during outbreaks and supplies it in different regions of the country.
There are seven different types of serotypes that can cause FMD. The FMD vaccines presently available are antigen specific and are ineffective on any other serotypes. As a result, increased outbreak of a particular type can challenge the growth of the market of remaining serotypes.
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Increasing use of Conventional Vaccines in FMD-endemic Countries Benefits Growth of FMD Vaccines Market
The global foot and mouth disease vaccines market was valued at USD 513.6 million in 2013 and is anticipated to reach US$954.5 mn in 2020. By type, the market is segmented into conventional vaccines and emergency vaccines. “Conventional vaccines are more prevalent than emergency vaccines due to their augmented use in FMD-endemic countries,” says TMR analyst. In 2015, the valuation of conventional vaccines was US$414.6 mn and is expected to rise at US$313.4 mn in 2020. Conventional vaccines are further segmented into aluminum hydroxide/saponin-based vaccines and oil based vaccines.
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By application, the cattle segment is the leading as well as the fastest growing segment by revenue in the global FMD vaccine market. Due to the presence of a large number of cattle in the FMD-endemic countries, the segment is expected to retain the leadership till 2020.
By geography, Asia Pacific held the largest market share by revenue and is anticipated to maintain the leadership by the end of 2020.
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