What Will The Poultry Healthcare Market Look Like In 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 poultry healthcare market report forecasts the poultry healthcare market size to grow to $11.8 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.
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Poultry Healthcare Market Size Forecast
The global poultry healthcare market is expected to grow from $7.01 billion in 2022 to $7.73 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. 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 poultry healthcare market size is expected to grow to $11.8 billion in 2027 at a CAGR of 11.2%.
North America held the largest poultry healthcare market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Poultry Healthcare Market Driver – Increase In The Prevalence Of Disease Outbreaks In Poultry Animals
According to the World Organization for Animal Health, in November 2021, various subtypes of high pathogenicity avian influenza have been reported by more than 40 countries over the last six months. Since May 1, 2021, outbreaks of high pathogenicity avian influenza (HPAI) have been confirmed in 41 countries in various regions in poultry and wild birds. Approximately 16,000 cases of HPAI in domestic and wild birds were reported in the month of October. Therefore, the increasing prevalence of disease outbreaks is driving the growth of the poultry healthcare market.
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Key Poultry Healthcare Market Trend – Technological Advancement
These technological advancements include innovations in vaccines and other treatments. For example, in October 2020, Boehringer Ingelheim, a Germany-based human, animal, and poultry healthcare company, launched a new poultry vaccine, VAXXITEK HVT+IBD. It is a single-shot, innovative recombinant vaccine, ensuring life-long protection for all types of production chickens, namely broiler, layer, and breeder. The vaccine offers protection from infectious laryngotracheitis, Marek’s Disease, and Infectious Bursal Disease.
Poultry Healthcare Market Segment
1) By Product: Vaccines, Parasiticides, Anti Infectives, Medical Feed Addictives
2) By Test: ELISA, PCR, Molecular Diagnostic test, Laboratory Test
3) By Application: Farm, House
Poultry Healthcare Market Major Players and Strategies
Major players in the poultry healthcare market are Ceva, Zoetis, Venkys India, Phibro Animal Health Corporation, Merk and Co Inc., Boehringer Ingelheim, Hester Biosciences Limited, ROMVAC COMPANY S.A., Eli Lilly and company, Bayer AG, Merial Animal Health, Indovax, Affini Tech Ltd., Bimeda Inc., and Indexx.
In August 2020, Merck Animal Health, a US-based manufacturer and developer of a high and broad range of veterinary medicines and other services, acquired IdentiGEN for an undisclosed amount. The acquisition is expected to strengthen Merck’s portfolio with an evidence-based animal traceability solution for livestock and aquaculture to accurately and precisely trace beef, seafood, pork, and poultry that is verifiable from farm to table while making sure of a sustainable supply of quality food in order to protect public health. IdentiGEN is an Ireland-based poultry healthcare company that provides DNA-based solutions for producers, processors, and retailers of meat, poultry, and seafood products.
The Poultry Healthcare Global Market Report 2023 covers regional data on poultry healthcare market size, poultry healthcare market trends and drivers, opportunities, strategies, and poultry healthcare market competitor analysis. The countries covered in the poultry 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.
Poultry healthcare refers to services that provide healthcare solutions for poultry, including eliminating sick birds, timely vaccinations, managing health care resources, and poultry management such as cleanliness, feeding and feed supply, housing, and others. Domesticated birds such as chickens, turkeys, ducks, geese, quails, and others are served by these services.
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