farm animal healthcare market
Veterinary Healthcare

Global Farm Animal Healthcare Market Opportunities And Strategies 2023

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s farm animal healthcare market report forecasts the farm animal healthcare market size to grow to $26.92 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

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Farm Animal Healthcare Market Size Forecast
The global farm animal healthcare market is expected to grow from $18.7 billion in 2022 to $20.31 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The farm animal healthcare market size is expected to grow to $26.92 billion in 2027 at a CAGR of 7.3%.

North America held the largest farm animal healthcare market share.

Key Farm Animal Healthcare Market Driver ­– Increase In Livestock
For instance, according to a report published by the US Department of Agriculture in 2022, India’s national herd of cattle increased from 1.2 million in 2021 to 306.7 million in 2022. Therefore, the growing livestock population will propel the farm animal healthcare market.

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Key Farm Animal Healthcare Market Trend – Rapid Developments In Technology
Major companies in the farm animal healthcare sector are focused on developing new technologies to meet consumer demand and strengthen their position. For instance, in January 2020, Boehringer Ingelheim, a Germany-based pharmaceutical company, launched the VAXXITEK HVT+IBD+ND vaccine based on trojan horse vaccine technology to protect poultry from three types of diseases. This vaccine technology is similar to a trojan horse in that it protects against disease by employing a non-pathogenic substance as a vector to carry pathogen-protective genes VAXXITEK HVT+IBD+ND builds a solid immune foundation and provides enhanced protection against marek’s disease, infectious bursal disease (classic and variant kinds), and newcastle disease.

Farm Animal Healthcare Market Segment
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

Farm Animal Healthcare Market Major Players and Strategies
Major players in the farm animal healthcare market are Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health, Elanco, Merck, Merial (Sanofi), Virbac, Zoetis Animal Healthcare, Vetoquinol, Norbrook, Alivira Animal Health Limited, Phibro Animal Health, Intas Pharmaceuticals Ltd., Hester Bioscience, and Eli Lilly and Company.

In April 2020, Heska Corporation, a US-based advanced veterinary diagnostic and specialty products company, acquired Scil Animal Care Company for $110 million. Through this acquisition, Heska Corporation aimed to expand the company with veterinarians and point-of-care analyzers to serve companion animals. Scil Animal Care Company is a US-based company that specializes in animal health laboratories and imaging diagnostic products and services.

The Farm Animal Healthcare Global Market Report 2023 covers regional data on farm animal healthcare market size, farm animal healthcare market trends and drivers, opportunities, strategies, and farm animal healthcare market competitor analysis. The countries covered in the farm animal healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The farm animal healthcare refers to a proactive service that outlines steps for disease prevention, identification, and management in order to promote the health and wellbeing of farm animals. It ensures that disease, injury, and mortality among farmed animals are kept to a minimum.

View More Reports Related To The Farm Animal Healthcare Market –
Animal Medicine Global Market Report 2023
Animal Growth Promoters And Performance Enhancers Global Market Report 2023
Livestock Monitoring Global Market Report 2023

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