Expanding population base is stimulating high food demand, prompting an increase in livestock rearing to source animal-derived food products
Expanding population base is stimulating high food demand, prompting an increase in livestock rearing to source animal-derived food products
Fact.MR, Rockville MD: Award winning market research company Fact.MR is conducting an ongoing research study on the global cattle health market. As per its findings, a positive growth outlook is expected for 2021, primarily underpinned by growing demand for meat consumption and animal protein intake. Growth prospects for the upcoming decade are also optimistic, registering a noteworthy expansion rate until 2031.
According to Fact.MR, the market is poised to benefit immensely from increasing livestock farming. According to Farm4Trade, livestock systems presently occupy approximately 30% of the Earth. It is also one of the fastest expanding agricultural sectors in developing countries. Hence, advancing high quality cattle care is acquiring center stage.
Opportunities are prolific across the cow farming sector, as global demand for beef and milk consumption continues to rise. As per findings revealed by the Food and Agriculture Organization, developing countries are expected to account for over 80% of total production by 2029, with Argentina, Brazil, China, Pakistan, Turkey and sub-Saharan Africa comprising the bulk of the production levels. The figure is likely to be valued at 4% for developed economies. Hence, uptake of cattle care products to maintain the global cow fleet is likely to surge manifold.
“Prominent manufacturers are incorporating sustainable product additive solutions, mostly from natural sources, mindful of the detrimental impacts of excessive reliance on conventional pharmaceutical formulations on overall animal health,” says the Fact.MR analyst.
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Key Takeaways from Fact.MR’s Cattle Health Market Study
- By product, vaccine development to acquire high priority amid growing burden of viral and bacterial infections
- Veterinary hospitals & clinics to remain primary distribution channels for cattle health products
- US to witness aggrandizing sales, with over half of the products being pharmaceutical products
- High sales of endo-parasitic and ecto-parasitic medicines to spearhead the UK market growth
- Germany and France to witness high growth in the cow medicines segment, attributed to growing emphasis on milk production
- India to emerge as a promising cattle health products hub, owing to governmental initiatives promoting animal husbandry
Cattle Health Market- Prominent Drivers
- Expanding global population is stimulating food demand, leading to increased adoption of livestock, heightening the need for promoting animal care
- Manufacturers are incorporating herbal veterinary products in the wake of rising concerns over conventional antibiotics and antiviral drugs usage
- Proliferating vaccination campaigns to enhance cattle lifespans is stimulating cattle health products sales
Cattle Health Market- Key Restraints
- Limited awareness regarding the best cattle rearing practices in the developing world is restricting penetration
- Scarcity of arable land and water due to rapid urbanization is reducing cattle rearing activities, thus restraining growth
Discover more about the cattle health market with figures, data tables and the table of contents. You will also find detailed market segmentation on https://www.factmr.com/report/2854/cattle-health-market
Competitive Landscape
Key manufacturers operating in the global cattle health market include Abaxis Inc. (Zoetis), Bayer Healthcare, Boehringer Ingelheim, Ceva Animal Health Inc., Elanco, IDVet, Merck & Co., Virbac and Zoetis Animal Healthcare among others. Introducing new treatment approaches and developing effective drugs to combat infections is a key growth strategy adopted by the aforementioned players.
In January 2021, Zoetis expanded its vector vaccine portfolio by launching the Poulvac® ProcertaTM HVT-IBD which provides early protection against the contemporary infectious bursal disease (IBD) viruses which are prevalent among US broilers. The vaccine is imbued with the AL2 enzyme which inhibits viral growth.
Investing in sustainable production techniques also helps manufacturers cement their presence in the market. For instance, in 2018, Ceva Animal Health Inc. hosted the New Technology Summit to provide strong scientific evidence about the potential of optimal vaccination in creating a change in production performance. The summit included the release of a range of coccidiosis vaccines and a double insert vector vaccine against ND and IBD.
More Insights on the Cattle Health Market Report
In its latest report, Fact.MR offers unbiased analysis of the global cattle health market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of product type (vaccines, pharmaceuticals, feed additives & diagnostics) and distribution channel (veterinary hospitals & clinic pharmacies, retail pharmacies and online pharmacies) across seven regions (North America, Latin America, Western Europe, Eastern Europe, Japan, APEJ and Middle East & Africa)
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