Livestock Healthcare Market Insights, Industry Growth, Trends, Forecast Analysis 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2673

The Business Research Company presents an extensive market research report on the Livestock Healthcare Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The livestock healthcare market size has grown strongly in recent years. It will grow from $50.74 billion in 2023 to $54.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to increasing livestock population, intensification of livestock farming, rising demand for animal products, globalization of the livestock industry, government initiatives for livestock health.

The livestock healthcare market size is expected to see strong growth in the next few years. It will grow to $79.39 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to evolving disease landscape, focus on antibiotic reduction, growing awareness of zoonotic diseases, adoption of precision livestock farming, sustainable livestock practices. Major trends in the forecast period include biosecurity measures for disease prevention, genetic selection for disease resistance, remote consultation and veterinary services, focus on animal welfare and stress reduction, emergence of personalized medicine for livestock.

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Key Market Players:

Major companies operating in the livestock healthcare market report are The Archer-Daniels-Midland Company, Merck & Co Inc., Boehringer Ingelheim International GmbH, Bayer Healthcare AG, Zoetis Inc., Elanco Animal Health Incorporated, IDEXX Laboratories Inc., Alltech Inc., Virbac SA, Ceva Santé Animale, Phibro Animal Health Corporation, Avivagen Inc., Neogen Corporation, Dechra Pharmaceuticals plc, Huvepharma AD, Vetoquinol SA, Laboratorios Hipra S.A., Anpario plc, Kemin Industries Inc., Norbrook Laboratories Ltd., Alivira Animal Health Limited, Intas Pharmaceuticals Ltd., Jurox Pty Ltd., Hester Biosciences Limited, BioChek BV, Vets Plus Inc., Phytobiotics Futterzusatzstoffe GmbH, Delacon Biotechnik GmbH, Bimeda Holdings plc, Inovet (V.M.D. NV/sa)

Market Drivers:

The increasing prevalence of food-borne and zoonotic diseases is expected to propel the livestock healthcare market going forward. Foodborne refers to infectious diseases caused by the consumption of food or water contaminated by pathogenic microorganisms such as bacteria, parasites, and viruses. Zoonotic diseases are illnesses that are transmitted between animals and humans. Livestock healthcare helps to detect, prevent, and treat diseases from animals through vaccines and medications, so increasing food-borne and zoonotic diseases increases the demand for livestock healthcare products. For instance, in December 2022, according to the European Food Safety Authority, an Italy-based decentralized agency of the European Union, in Europe, there were 127,840 recorded cases of zoonotic diseases in 2021. Therefore, the increasing prevalence of food-borne and zoonotic diseases drives the livestock healthcare market.

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The livestock healthcare market covered in this report is segmented -

1) By Product Type: Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Other Types
2) By Livestock Animal: Poultry, Swine, Cattle, Sheep And Goats, Horse, Other Animals
3) By End User: Reference Laboratories, Point-of-care Testing or In-house Testing, Veterinary Hospitals and Clinics, Other Users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

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