Press release
Livestock Healthcare Market: Insights on Market Size, 7.5% CAGR, Key Drivers, and Future Trends
Livestock Healthcare Market Outlook
What Is The Projected Market Size Of The Global Livestock Healthcare Market And Its Growth Rate?
The global livestock healthcare market is experiencing robust growth:
- Market size is projected to grow from $54.45 billion in 2024 to $58.54 billion in 2025, a compound annual growth rate of 7.5%
- The growth is attributed to increasing livestock population, intensification of livestock farming, rising demand for animal products, and globalization of the livestock industry
- A rapid growth is anticipated in the next few years, reaching $87.47 billion in 2029 with a CAGR of 10.6%
- Major growth drivers in the forecast period include evolving disease landscape, focus on antibiotic reduction, growing awareness of zoonotic diseases, adoption of precision livestock farming, and sustainable livestock practices
What Is Driving The Growth In The Livestock Healthcare Market?
The increase in food-borne and zoonotic diseases significantly drives the growth of the livestock healthcare market. The need for livestock healthcare products escalates as these diseases are increasing. Livestock healthcare aids in the detection, prevention, and treatment of diseases transmitted between animals and humans. For instance, in December 2023, according to the European Food Safety Authority, the European Union experienced a 44% rise from the previous year in foodborne outbreaks, increasing the demand for livestock healthcare products.
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Who Are the Key Players Driving Livestock Healthcare Market Growth?
Major participants in the livestock healthcare market include:
- Merck & Co Inc.
- Boehringer Ingelheim International GmbH
- Zoetis Inc.
- Elanco Animal Health Incorporated
- Alltech Inc.
- Virbac SA
- Ceva Santé Animale
- Phibro Animal Health Corporation
- Avivagen Inc.
- Dechra Pharmaceuticals plc
What Are The Key Trends In The Livestock Healthcare Market?
The following trends are shaping the livestock healthcare market:
- Introduction of 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
What Are The Segments Of The Global Livestock Healthcare Market?
The livestock healthcare market is segmented by:
- Product Type: Vaccines, Pharmaceuticals, Feed Additives, Diagnostics, Other Types
- Livestock Animal: Poultry, Swine, Cattle, Sheep And Goats, Horse, Other Animals
- End User: Reference Laboratories, Point-of-care Testing or In-house Testing, Veterinary Hospitals and Clinics, Other Users
Which Region Leads The Livestock Healthcare Market?
North America was the largest market for livestock healthcare in 2024. The regions covered in this market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Livestock Healthcare Market Global Market Report?
- Market Size Analysis: Analyze the Livestock Healthcare Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Livestock Healthcare 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 Livestock Healthcare Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Livestock Healthcare Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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