Global Farm Animal Healthcare Market Size, Share, Trends And Drivers 2023-2032
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
North America held the largest farm animal healthcare market share in 2022.
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 market is expected to reach $26.92 billion in 2027 at a CAGR of 7.3%.
Major Driver In The Farm Animal Healthcare Market – Increase In Livestock
According to a report issued in 2022 by the United States Department of Agriculture, India’s national herd of cattle increased from 1.2 million in 2021 to 306.7 million in 2022. As a result, the increasing livestock population will drive the farm animal healthcare market.
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Key Farm Animal Healthcare Market Segments
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
Recent Farm Animal Healthcare Market Trend – Rapid Developments In Technology
For example, Boehringer Ingelheim, a German pharmaceutical company, launched the VAXXITEK HVT+IBD+ND vaccine in January 2020, based on Trojan horse vaccine technology, to protect poultry from three types of infections. This vaccination method, like a Trojan horse, guards against disease by using a non-pathogenic material as a vector to deliver pathogen-protective genes. VAXXITEK HVT+IBD+ND strengthens the immune system and protects against Marek’s disease, infectious bursal disease (classic and variant types), and Newcastle disease.
Farm Animal Healthcare Market Prominent Players
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.
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The Farm Animal Healthcare Global Market Report 2023 provides a comprehensive overview on the farm animal healthcare market size, trends and drivers, opportunities, strategies, and companies 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.
Farm animal healthcare is a proactive service that provides measures for disease prevention, identification, and management in order to promote farm animals’ health and well-being. It keeps sickness, damage, and mortality among farmed animals to a minimum.
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