The global foot and mouth disease (FMD) vaccine market will expand by 11.22% from US$7.285 million in 2016 to an estimated US$12.241 million by 2021. This is due to renewed demand, new vaccine research, development investment projects, and increased competition between suppliers, a new market research report has revealed.
In a report titled Foot and Mouth Disease (FMD) Vaccines Market that was released late in December, BIS Research said that although the global FMD vaccine industry didn’t do well over the past 4 years, it has maintained a “relatively optimistic” growth rate.
“BIS Research analysts believe that in the next few years, the global FMD vaccines market size will be further expanded. We expect that by 2021, the market size will reach US$12.241 million, driven by a strong trend of new research and development investments in the FMD vaccines industries.
“Other growth drivers include the need to curtail vaccine costs, growth and the increased use of shifting commodity prices, a strengthening of private label brands, and increased competition from new players in the FMD vaccines market,” the report said.
The FMD vaccines market analysis covered all countries in North and South America and the Asian nations of China, Japan, India and South Korea. In Europe, the analysis covered Germany, the United Kingdom, France and Italy. Several countries in Africa and the Middle East were also analysed.
US companies are expected to dominate the market, with the most popular products set to include O type inactivated, O type “synthetic peptide”, inactivated, bivalent inactivated and trivalent inactivated FMD vaccines.
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