Hyderabad, Aug. 03, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Farm Animal Healthcare Market Report (2023-2028)," the market is estimated at USD 21.34 billion in 2023. It is expected to register a CAGR of 5.12% during the forecast period.
Farm animals are referred to as those which are raised domestically and kept for agricultural purposes. This list of animals includes cows, chickens, and horses. This market deals with the treatment and prevention of various diseases in farm animals.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 21.34 billion |
| Market Size (2028) | USD 27.40 billion |
| CAGR (2023-2028) | 5.12% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing initiatives by government and animal welfare associations. |
| Growing innovations in animal healthcare. |
Who are the Top Companies in the Farm Animal Healthcare Market?
The farm animal healthcare market is highly competitive, with established local and international players who are adopting initiatives like partnerships, agreements, and collaborations to expand their market presence.
Significant players in the farm animal healthcare market are,
- Boehringer Ingelheim International GmbH
- Ceva Animal Health Inc.
- Elanco
- Hester Biosciences Limited
- Merck & Co. Inc.
- Phibro Animal Health
- Vetoquinol
- Zoetis Inc.
- Intas Pharmaceuticals Ltd
- Norbrook
- Alivira Animal Health Limited
Other Reports That Might Be of Your Interest:
- Animal Sedative Market Report - The animal sedative market is expected to register a CAGR of 5.10% during the forecast period (2023-2028).
- Animal Ortho-Prosthetics Market Report - The animal ortho-prosthetics market is expected to register a CAGR of 7.10% during the forecast period (2023-2028).
Key Highlights from the Farm Animal Healthcare Market Report:
Demand for Vaccines to Drive the Market
- Vaccines are used to treat several diseases in farm animals, like clostridial diseases, fowl pox, and fowl cholera. Advanced vaccines containing genetically engineered components are being manufactured to protect farm animals and increase their productivity.
- The vaccine segment is expected to witness growth due to the rising prevalence of zoonotic diseases, growing awareness of animal health, and increasing product launches.
North America is Likely to Occupy Significant Market Share
- Government initiatives and investments in various projects for developing effective medicines for farm animals in the United States are expected to fuel the market’s growth.
- The high prevalence of various diseases in farm animals in the region is increasing the demand for effective vaccines to protect them.
What are the Latest Developments in the Farm Animal Healthcare Market?
- In January 2023, Purina Animal Nutrition launched Purina EnduraSow feed additives and Purina Endura Pig feed additive to enhance sow performance and increase the reproductive efficiency of pigs, respectively, in the United States.
- In November 2022, ADM launched two products in its SUCRAM series to enhance the palatability of feed for younger animals, especially for weaned pigs.
Mordor Intelligence has Segmented the Farm Animal Healthcare Market Based on Technology, Animal Type, and Geography:
- By Technology (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Live Attenuated Vaccines
- Inactivated Vaccines
- Toxoid Vaccines
- Recombinant Vaccines
- Other Technologies
- By Animal Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Dogs
- Cats
- Other Animal Types
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Argentina
- Rest of South America
- North America
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Farm Animal Healthcare Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Swine Healthcare Market Report - The swine healthcare market is expected to register a CAGR of 8.20% during the forecast period (2023-2028).
- Poultry Healthcare Market Report - The poultry healthcare market is expected to register a CAGR of 8.50% during the forecast period (2023-2028).
- Companion Animal Vaccine Market Report - The companion animal vaccine market size is estimated at USD 3.38 billion in 2023. It is expected to reach USD 4.53 billion by 2028, with a CAGR of 6.02% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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