How is the Farm Animal Healthcare Market Poised for Growth: Trends and Opportunities Through 2034
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What fueled the previous growth in the farm animal healthcare market?
In recent times, the market size of farm animal healthcare has seen robust growth. It is projected to increase from $21.02 billion in 2024 to $22.38 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.5%. Factors such as disease outbreaks, regulatory assistance, growth in livestock population, along with heightened awareness and education have contributed to this growth during the historical period.
What will be the farm animal healthcare market size in the future?
It is anticipated that the market for farm animal healthcare will experience robust expansion in the coming years. By 2029, the market is projected to reach a value of $29.89 billion, with a compound annual growth rate (CAGR) of 7.5%. This projected growth over the forecast period is due to a variety of factors, including global food demand, a trend towards preventive healthcare, advancements in precision farming technologies, ecological concerns, and economic factors. The forecast period is also likely to witness major trends like the adoption of digital health solutions, advancements in biotechnology, the implementation of eco-friendly practices, the growing use of nutraceuticals and functional feeds, and an increase in collaborations and partnerships.
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What main drivers are fueling expansion in the farm animal healthcare market?
Growth in the farm animal healthcare market is predicted to be fueled by an increase in livestock. Livestock includes all agricultural animals, such as cows, horses, and pigs, raised and used by humans. As the livestock population grows, so does the need for healthcare services for these animals, given these services are imperative for safeguarding these animals from diseases like swine flu and avian flu, which can also impact humans, workers, and veterinarians. For example, in September 2023, The United States Department of Agriculture, a US-based federal agency overseeing laws related to agriculture, forestry, rural economic growth, and food, projected that cattle production will rise by 1% in 2023. The rates of cattle slaughter are also predicted to surge in 2023 and 2024. Moreover, the production of beef is anticipated to grow by eight per cent in 2023 and by two per cent in 2024. Brazil is poised to retain its position as the largest global beef exporter, with exports reaching 3.35 MMT CWE in 2023 and 3.40 MMT CWE in 2024, which equals 30% of Brazil’s production. Thus, the growing population of livestock is a key force propelling the expansion of the farm animal healthcare market.
What key areas define the segmentation of the global farm animal healthcare market?
The farm animal healthcare market covered in this report is segmented –
1) By Product: Vaccines, Parasiticides, Anti-Infectives, Medical Feed Additives, Other Products
2) By Application: Cattle, Swine, Poultry, Fish, Sheep
3) By End User: Reference Laboratories, Point-Of-Care Testing Or In-House Testing, Veterinary Hospitals And Clinics, Other End Users
Subsegments:
1) By Vaccines: Live Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Recombinant Vaccines
2) By Parasiticides: Endoparasiticides (internal parasites), Ectoparasiticides (External Parasites), Combination Products
3) By Anti-Infectives: Antibiotics, Antifungals, Antivirals
4) By Medical Feed Additives: Probiotics, Prebiotics, Nutraceuticals, Enzymes
5) By Other Products: Hormones, Pain Management Products, Diagnostic Products
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Who are the dominant players expanding their reach in the farm animal healthcare market?
Major companies operating in the farm animal healthcare market include Bayer AG, C. H. Boehringer Sohn AG & Co. KG, Ceva Santé Animale, Merck & Co. Inc., Virbac Corporation, Zoetis Inc., Vetoquinol Animal health pvt. Ltd., Norbrook Laboratories, Alivira Animal Health Limited, Phibro Animal Health, Intas Pharmaceuticals Limited, Hester Biosciences Limited, Elanco Animal Health Incorporated, Biogenesis Bago SA, Animalcare Limited, Bimeda Inc., Eco Animal Health Pvt. Ltd., Dechra Pharmaceuticals PLC, Hipra, Huvepharma Inc., Indian Immunologicals Limited, Jurox Pty Ltd., Kyoritsu Seiyaku Corporation, Neogen Corporation, Phytobiotics Futterzusatzstoffe GmbH, Vaxxinova International BV, Wedgewood Pharmacy, Orion Pharma Animal Health, Kane biotech Inc.
How are evolving market trends shaping farm animal healthcare Strategies?
The quick pace of technological advancements has become a prevalent trend in the farm animal healthcare industry. Companies at the forefront of this sector are zeroing in on the creation of new technologies in response to consumer demands and to fortify their market standing. For instance, Merck & Co., Inc. introduced INNOVAX-ILT-IBD in June 2023. This is a double-construct HVT vaccine for poultry health, offering ongoing protection against infectious bursal disease (IBD), infectious laryngotracheitis (ILT), and Marek’s disease (MD). Instead of a single ILT glycoprotein insert, INNOVAX-ILT-IBD possesses two. Furthermore, evidence from clinical trials points to an early onset and prolonged immunity provided by INNOVAX-ILT-IBD. The vaccine can be administered either subcutaneously when a day old or in Ovo after approximately 18 days of incubation into layers, breeder flocks, and broiler chickens in hatcheries for enhanced early-life defense.
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Which regions are emerging as leaders in the farm animal healthcare market?
North America was the largest region in the farm animal healthcare market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the farm animal healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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