FMD Disease Market Size, Share, Growth Analysis, By Technique(Conventional Vaccines (Aluminum Hydroxide/Saponin-based Vaccines, Oil-based Vaccines), and Emergency Vaccines), By Animal Type(Cattle, Sheep and goat, Pigs, and Others (antelope), By Region - Industry Forecast 2024-2031

FMD Disease Market size was valued at USD 2.39 Billion in 2022 and is poised to grow from USD 2.58 Billion in 2023 to USD 4.82 Billion by 2031, at a CAGR of 8.1% during the forecast period (2024-2031).

The competitive landscape of the foot-and-mouth disease (FMD) market is highly fragmented, with several players operating in the market. The market is dominated by a few major players, including multinational pharmaceutical companies and vaccine manufacturers, as well as several regional and local players. The FMD market is expected to witness significant growth in the coming years, with a strong focus on research and development of advanced vaccines and therapeutics for the treatment and prevention of FMD. The market is likely to witness increased competition in the future, with a growing number of players entering the market and offering innovative products and services. 'MSD Animal Health', 'Zoetis', 'Boehringer Ingelheim', 'Bayer AG', 'Indian Immunologicals Ltd.', 'Biogenesis-Bago', 'Ceva Santé Animale', 'China Animal Husbandry Co., Ltd. (CAH)', 'Guangdong Dahuanong Animal Health Products Co., Ltd.', 'Heska Corporation', 'Indian Immunologicals Limited', 'Lanzhou Veterinary Research Institute', 'Limor de Colombia S.A.', 'Merial (Sanofi)', 'Minnesota Veterinary Diagnostic Laboratory', 'PVT-Polish Veterinary Pharmaceuticals Ltd.', 'RAKARB Veterinary Biotech.', 'Vecol S.A.', 'Vétoquinol', 'Bioveta a.s.'

The growing demand for animal protein and dairy products is a key driver of the FMD market, as FMD can cause significant losses in the livestock industry.

Increasing demand for FMD vaccines: The increasing demand for FMD vaccines, particularly in developing countries, is a key market trend. Governments around the world are taking initiatives to control and prevent FMD outbreaks, which is driving the demand for FMD vaccines.

Asia Pacific is anticipated to grow at a faster CAGR that is substantially higher throughout the projected period due to the increasing number of livestock animals, continued initiatives by market participants to commercialize veterinary vaccines, and increased investment in research and development in the region. In Africa, the Middle East, and Latin America, the vaccine for foot-and-mouth disease (FMD) is still in its infancy; nonetheless, it is projected that unmet vaccine demand will drive market expansion in these countries.