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Generating Immense Growth: Global Farm Animal Drugs Market Set to Rise to $26.85 Billion by 2029 at a CAGR of 6.7%
Farm Animal Drugs Market Size
What Is The Projected Market Size Of The Global Farm Animal Drugs Market And Its Growth Rate?
The global farm animal drugs market exhibits robust growth:
- The market rose from $19.41 billion in 2024 to $20.71 billion in 2025, displaying a CAGR of 6.7%.
- The growth is attributed to rising consumer demand for animal products, increase in zoonotic diseases, intensification of livestock farming, and global population growth.
- The market is forecasted to reach $26.85 billion in 2029, showing the same CAGR of 6.7%.
- Future growth is expected from rising awareness of antimicrobial resistance, climate change impacts on livestock health, increase in alternative proteins, and various other factors.
What Is Driving The Growth In The Farm Animal Drugs Market?
The palpable growth in the farm animal drugs market is driven primarily by the continued rise in meat consumption globally. In an age when meat intake is ever-increasing, farm animal drugs, which expedite animal development and enhance the meat production process, are in high demand. In 2023, data from the United States Department of Agriculture (USDA) reported an uptick in consumption of beef, pork, and chicken meat compared to 2021 and 2022. This consumption surge undeniably propels the growth of the farm animal drug market.
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Who Are the Key Players Driving Farm Animal Drugs Market Growth?
The major players contributing to the growth of the farm animal drugs market include:
- Eli Lilly and Company
- Boehringer Ingelheim GmbH
- Zoetis Inc.
- Elanco Animal Health Incorporated
- Hester Biosciences Limited
- Ceva Santé Animale SA
- Virbac SA
- Huvepharma Inc
- Phibro Animal Health Corporation
- Dechra Pharmaceuticals plc
- Laboratorios Hipra S.A.
- Norbrook Laboratories Ltd.
- Neogen Corporation
- Ouro Fino Saude Animal Participacoes SA
- Eco Animal Health Ltd
- Biogenesis Bago SA
- Laboratorios Calier S.A.
- Laboratorios Syva S.A.
- Jurox Pty Ltd
- Kepro B.V.
- Kyoritsu Seiyaku Corp.
- Merck Animal Health
- Vetoquinol SA
- Nippon Zenyaku Kogyo Co. Ltd.
- SeQuent Scientific Limited
- Agrovet Market Animal Health
- Orion Pharma Animal Health
- Zydus Animal Health and Investments Limited
What Are The Key Trends In The Farm Animal Drugs Market?
Key trends shaping the farm animal drugs market include:
- Technological advancements in veterinary medicine
- Progress in precision livestock farming technologies
- Use of blockchain technology for supply chain transparency
- Integration of AI and machine learning in animal health management
What Are The Segments Of The Global Farm Animal Drugs Market?
The global farm animal drugs market can be categorized based on:
- Product: Anti-Infective, Parasiticides, Anti-Inflammatory, Anesthetics, Analgesics, Hormones And Related Product, Other Products
- Route Of Administration: Oral, Parenteral, Topical, Other Routes
- Distribution Channel: Veterinary Hospitals, Veterinary Clinics, Pharmacies And Drug Stores, Other Channels
- Animal: Livestock Animals, Equine
Which Region Leads The Farm Animal Drugs Market?
Asia-Pacific emerged as the largest region in the farm animal drugs market in 2024. Additionally, the regions covered in the report include Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Farm Animal Drugs Market Global Market Report?
- Market Size Analysis: Analyze the Farm Animal Drugs Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Farm Animal Drugs Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Farm Animal Drugs Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Farm Animal Drugs Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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