Foot and Mouth Disease (FMD) is infectious disease, which majorly affects cattle, sheep, goats and swine. It is highly prevalent in regions such as Asia pacific, Latin America, Africa, Middle East and Eastern Europe. Foot and mouth diseases are gaining significant traction due to its economic impact on food industry, as it affects milk and meat production. Therefore, FMD vaccine play important role in the prevention of disease. Both oil-based and aluminum hydroxide adjuvants variety are available. However, oil-based vaccine hold dominant position in the FMD vaccine market
Furthermore, inorganic strategies adopted by key players for enhancing their distribution network and offering best products in the market is expected to drive the market growth. For instance, in May 2018, Cellmid Limited entered into an agreement with Beijing Fukangren Bio-pharm Tech Co Ltd. for distribution of its products across People’s Republic of China.
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Outbreak of the foot and mouth disease and associated economic loses are important driver for the growth of the FMD vaccine market. According to World Organization for Animal Health (OIE), around 23 countries from Asia Pacific, Latin America and Africa reported FMD outbreak in the 2016. According to journal Acta Tropica published in May 2017, prevalence of FMD in Ethiopia ranges from 5.6% to 42.7% in cattle and from 4% to 11% in small ruminant and in 30% in ungulate wildlife. Five of seven serotypes, namely serotype O, A, C, SAT1 and SAT2 are most commonly observed. This hampers animal rearing and trade practice at significant extent. Government initiatives to combat FMD outbreak would be another important driver for growth of FMD vaccine market. In March, 2007, Argentina, Brazil, and Paraguay government committed to intensive vigilance for FMD in a shared zone encompassing a small area along both sides of their common borders. The agreement became effective due to joint evaluation mission by OIE.
Although adult animals can recover from disease, mortality is high among young animals, as immunity is not well developed due to which foot and mouth disease vaccination is essential. Disease is characterized by the fever and blistery sore on tongue, lips and oral cavity. Foot and mouth disease is best preventable by vaccinating the livestock. There are total seven strains (A, O, C, SAT1, SAT2, SAT3, and Asia1) of virus that affects animals, symptoms produced are similar in each strain and they can be distinguished only through laboratory tests. Various regions around world are affected by different set of viral strain therefore each strain requires specific vaccine to prevent the infection. Inactivated vaccines are available to prevent animals from being infected by FMD.
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The global foot and mouth disease market size was valued at US$ 1,567 million in 2017, and is expected to witness a CAGR of 9.4% over the forecast period (2018 – 2026).
Foot and Mouth Disease (FMD) causes repetitive outbreak around world thereby causing economic and social damage. Preventing foot and mouth disease is the only sustainable and viable options, which can be done only though the vaccination for FMD, which is expected to drive growth of the foot and mouth disease vaccine market. According to paper published by the Food and Agricultural Organization (FAO) and World Organization for Animal Health (OIE), in 2012, foot and mouth disease accounted for annual loss of US$ 5 billion worldwide.
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