The global foot and mouth disease vaccines market is highly competitive in nature with several local and global players operating worldwide, stated a new market intelligence study that has been published by Transparency Market Research. The major players in the market are likely to emphasize on the research and development activities, which is projected to support the growth of the overall market in the next few years. The increasing investments and the development of innovative drugs are projected to generate potential growth opportunities for the market players in the next few years. The leading players operating in the foot and mouth disease vaccines across the globe are Inova Biotecnologia, Brilliant Bio Pharma Ltd, Agrovet Co., Bayer AG, Biogenesis Bago, and Indian Immunologicals Ltd. The rising collaborations and mergers and acquisitions are predicted to enhance the competitive environment of the overall market throughout the forecast period.
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As per the market research study by Transparency Market Research, in 2013, the global market for foot and mouth disease vaccines was worth US$0.51 bn and is projected to reach a value of US$0.95 bn by the end of 2020. The market is further predicted to register a healthy 8.80% CAGR between 2014 and 2020.
Asia Pacific to lead Global Hand and Mouth Disease Vaccines Market
The global foot and mouth disease vaccines market has been categorized on the basis of geography and among the key segments, Asia Pacific is projected to hold a major share of the market in the next few years. The rapid development of the healthcare sector and the rising awareness among consumers are some of the key factors that are projected to encourage the growth of the foot and mouth disease vaccines across Asia Pacific in the next few years. The rising contribution from China, Hong Kong, Pakistan, South Korea, Bangladesh, and India is another major factor that is predicted to enhance the growth of the market in the near future. Furthermore, North America is likely to witness a healthy growth throughout the forecast period.
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On the basis of vaccine type, the global foot and mouth disease vaccines market has been classified into emergency vaccines and conventional vaccines. The conventional vaccines segment is predicted to lead the market with a large share of the global market in the next few years. The rising adoption of the routine vaccinations in order to control or eradicate the disease spread is projected to accelerate the growth of the convection vaccines market throughout the forecast period.
Advent of New Drugs and Vaccines to Enhance Market Growth in Near Future
The rapid development of the healthcare sector and the launch of new drugs and vaccines are considered as the key factors that are projected to encourage the growth of the global foot and mouth disease vaccines market in the next few years. In addition to this, the rising awareness among consumers regarding the availability of vaccines and the advent of new drugs and vaccines are further predicted to enhance the growth of the overall market in the coming few years. On the flip side, the increasing government intervention regarding the purchase of vaccines by consumers is estimated to hamper the growth of the global foot and mouth disease vaccines market throughout the forecast period.
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