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Future of the Farm Animal Healthcare Market: Strategic Analysis and Forecast to 2034
Farm Animal Healthcare Market
Farm Animal Healthcare Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of farm animal healthcare has seen significant expansion in the past few years. It is predicted to escalate from $21.02 billion in 2024 to $22.38 billion in 2025, marking a compound annual growth rate (CAGR) of 6.5%. The growth during the historic period can be credited to factors such as disease outbreaks, regulatory backing, a rise in livestock population, and enhanced levels of awareness and education.
Farm Animal Healthcare Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for a robust expansion in the farm animal healthcare market size over the next several years. By 2029, it is forecasted to reach a total value of $29.89 billion, exhibiting a compound annual growth rate (CAGR) of 7.5%. Factors contributing to this anticipated increase during the forecast period include growing global food demand, trends in preventive healthcare, precision farming technologies, environmental considerations, and economic elements. Dominant trends predicted for the forecast period encompass digital health solutions, advancements in biotechnology, sustainable practices, functional feed and nutraceuticals, as well as collaborations and partnerships.
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What Are the Drivers Transforming the Farm Animal Healthcare Market?
The growth of the farm animal healthcare market is projected to be propelled by the expanding livestock population. Livestock, an agricultural term for animals such as cows, horses, and pigs that are raised and utilized by people, necessitates an increasing demand for healthcare services as their numbers rise. These services are critical in shielding animals from diseases such as swine flu and avian flu which can also affect humans, agricultural laborers, and veterinarians. To illustrate, The United States Department of Agriculture predicted in September 2023, that there will be a rise in cattle production by 1% in 2023. Additionally, it is anticipated that the rates of cattle slaughter will grow in 2023 and 2024, and beef production will see an increase of eight per cent in 2023 followed by a boost of two per cent in 2024. Brazil is set to uphold its status as the leading exporter of beef, pegging export rates at 3.35 MMT CWE in 2023 and 3.40 MMT CWE in 2024. This represents 30% of Brazil's total production. Consequently, the escalating populations of livestock are fuelling the expansion of the farm animal healthcare market.
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What Long-Term Trends Will Define the Future of the Farm Animal Healthcare Market?
The surge in technological advancements is a prominent trend gaining traction in the farm animal healthcare market. Leading companies in this sector are directing their efforts towards creating new technologies to cater to consumer needs and fortify their market position. An example of this is the launch of INNOVAX-ILT-IBD, a dual-construct HVT vaccine for poultry healthcare, by Merck & Co., Inc. in June 2023. This product provides continued protection against infectious bursal disease (IBD), infectious laryngotracheitis (ILT), and Marek's disease (MD). It incorporates two, instead of one, ILT glycoprotein inserts. Clinical trial findings show that immunity towards INNOVAX-ILT-IBD manifests early and has longevity. The vaccine, which can be administered subcutaneously (at day-old) or in Ovo (post approximately 18 days of incubation), aids in boosting early-life protection in layers, breeder flocks, and broiler chickens in hatcheries.
Which Segments in the Farm Animal Healthcare Market Offer the Most Profit Potential?
The farm animal healthcare market covered in this report is segmented -
1) By Product: Vaccines, Parasiticides, Anti-Infectives, Medical Feed Additives, Other Products
2) By Application: Cattle, Swine, Poultry, Fish, Sheep
3) By End User: Reference Laboratories, Point-Of-Care Testing Or In-House Testing, Veterinary Hospitals And Clinics, Other End Users
Subsegments:
1) By Vaccines: Live Attenuated Vaccines, Inactivated Vaccines, Subunit Vaccines, Recombinant Vaccines
2) By Parasiticides: Endoparasiticides (internal parasites), Ectoparasiticides (External Parasites), Combination Products
3) By Anti-Infectives: Antibiotics, Antifungals, Antivirals
4) By Medical Feed Additives: Probiotics, Prebiotics, Nutraceuticals, Enzymes
5) By Other Products: Hormones, Pain Management Products, Diagnostic Products
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Which Firms Dominate the Farm Animal Healthcare Market by Market Share and Revenue in 2025?
Major companies operating in the farm animal healthcare market include Bayer AG, C. H. Boehringer Sohn AG & Co. KG, Ceva Santé Animale, Merck & Co. Inc., Virbac Corporation, Zoetis Inc., Vetoquinol Animal health pvt. Ltd., Norbrook Laboratories, Alivira Animal Health Limited, Phibro Animal Health, Intas Pharmaceuticals Limited, Hester Biosciences Limited, Elanco Animal Health Incorporated, Biogenesis Bago SA, Animalcare Limited, Bimeda Inc., Eco Animal Health Pvt. Ltd., Dechra Pharmaceuticals PLC, Hipra, Huvepharma Inc., Indian Immunologicals Limited, Jurox Pty Ltd., Kyoritsu Seiyaku Corporation, Neogen Corporation, Phytobiotics Futterzusatzstoffe GmbH, Vaxxinova International BV, Wedgewood Pharmacy, Orion Pharma Animal Health, Kane biotech Inc.
Which Regions Offer the Highest Growth Potential in the Farm Animal Healthcare Market?
North America was the largest region in the farm animal healthcare market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the farm animal healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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