Summary - A new market study, titled “Farm Animal Health Market, 2012 to 2023 ” has been featured on WiseGuyReports.
Farm animals are the domesticated animals adopted for the production of milk and meat products. Generally adopted farm animals include cattle, poultry, aqua, swine, and sheep among others. The various diseases occur to farm animals include foodborne diseases, parasitic diseases; infectious diseases are due to the lack of nutrition fortified feed. Vaccines are commonly administered to the farm animals for the prevention of diseases and improve the immunity of the animals
The global farm animal healthcare market is growing at a healthy CAGR due to increase in the adoption of farm animal. Increase in the population preferring for healthy meat and dairy products, rise in the prevalence of foodborne diseases in animals, increase in the research and development in animal health medicine, and rise in the income for pet owners might fuel the farm animal healthcare market over the forecast period. In addition, increase in the demand for the animal source protein, the rise in the awareness about farm animal health, favourable government initiations to promote animal health, an increase in the expenditure on animal welfare might bolster the farm animal healthcare market in the future. However, stringent regulatory policies for the approval of veterinary medicines such as vaccines, high cost for the diagnosis and treatment of diseases, and strict regulations for the use of antibiotics in the animal might hamper the farm animal healthcare market over the forecast period.
The farm animal healthcare market is segmented on the basis of product type, route of administration, animal type, and distribution channel
Based on the product type, farm animal healthcare market is segmented into the following:
Medicated feed additives
Based on the route of administration, farm animal healthcare market is segmented into the following:
Based on the animal type, farm animal healthcare market is segmented into the following:
Based on the distribution channel, farm animal healthcare market is segmented into the following:
The farm animal healthcare market is in the developing stage with several local and international players are actively engaged in the development of veterinary vaccines, feed, and other pharmaceutical formulations to treat various diseases. Increasing the preference of healthy meat and dairy products and pet owners focus on the high production of meat and dairy products might fuel the farm animal healthcare market. Most of the companies focus on the research and development activities, product launchings, acquisitions and merging, and collaborating with competitors for increasing their product portfolio and share in the farm animal healthcare market. For instance, in November 2015, Zoetis acquired PharmaQ for the development and innovation of new vaccines in the aquaculture. In addition, in November 2014, Merck Animal Health launched Finadyne, a transdermal non-steroidal anti-inflammatory drug for cattle. Similarly, in September 2015, Ceva Sante Animale launched a vaccine in Europe to prevent Mycoplasma hyponeumoniae which causes respiratory disease in swine.
Geographically, farm animal healthcare market is segmented into the following regions Viz. Europe, Asia Pacific, Middle East & Africa, North America, and Latin America. North America holds a major share in farm animal healthcare market owing to increase in the research and development activities for veterinary vaccines, rise in the prevalence of various infectious diseases in farm animals, an increase in the preference for healthy meat and dairy products. In addition, favourable initiations from the government for the animal welfare, rise in the income per capita and increase in the awareness about the vaccines for farm animals also propel the farm animal healthcare market in North America region. Europe holds a key share in farm animal healthcare market, which is attributed to increasing in the prevalence of zoonotic and foodborne diseases in animals, (according to European Food Safety Authority (EFSA), approximately 320,000 cases of zoonotic and foodborne diseases occur every year in Europe countries), rise in the research and development activities, production of large amount of aquatics such as fish and prawns majorly in Norway, Ireland, U.K., and increase the expenditure on animal welfare are the key factors bolstering the farm animal healthcare market in Europe. Asia Pacific is an emergent market owing to increase the consumption of healthy meat and dairy products, rise in the awareness about animal diseases, an increase in the income per capita might fuel the farm animal healthcare market growth.
Some of the players in farm animal healthcare market are Alltech Inc. (U.S.), Boehringer Ingelheim GmbH (Germany), Zoetis, Inc. (Pfizer) (U.S), Virbac AH Inc. (France), Elanco (Eli Lilly and Co.) (U.S.), Bayer HealthCare LLC, (Bayer AG) (Germany), Merck Animal Health (Merck & Co. Inc.) (U.S.), Dechra Pharmaceuticals (U.K.), and Ceva Sante Animale S.A. (France) to name a few.
In January 2017, Ceva Sante Animale acquired diversified portfolio of cattle and swine vaccines and multispecies non-steroidal anti-inflammatory from Boehringer Ingelheim
In March 2016, Zoetis and Merial collaborated to market the drugs and vaccines for the cattle in India
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